South Broadway retail building in Denver sells for $1.55 million

Comp of the Day handshake image

Denver County Property Location: 114-120 S. Broadway, Denver Property Description: 5,450-sf strip center YOC 1933, brick Land Size: 7,812 sf Sales Price: $1.55M, or $284.40 per sf Reception No.: 2017125447 Closing Date: 9/22 Grantor: 114-120 LLC., E.V. Kazazian, mgr., formerly of Denver, now Rancho Mirage, CA Grantee: S. Broadway Investment LLC, Judy Gaines, mgr. Financing:…

John Winslow

October 5, 2017

If Amazon HQ2 comes to Denver, where might it go?

Elitch/Pepsi Center

Steve Ferris, Founder and principal, Real Estate Garage, Denver This is a special edition of the series on Denver’s “Whale Sites,” defined as extremely prominent and underdeveloped land parcels whose size and location will define Denver’s future growth and development. Introduction. The early September announcement that Amazon issued a request for proposals for a second…

Steve Ferris

October 4, 2017

Trammell Crow fetches Village at Forest Trace strip center for $8.9 million

Comp of the Day handshake image

Arapahoe County Property Location: 23870-90 E. Smoky Hill Road, Aurora, “Village of Forest Trace” Property Description: 16,506-sf retail center (two buildings), YOC 2016 Land Size: 1.9 acres Sales Price: $8.9M, or $539.20 per sf Reception No.: D7105471 Closing Date: 9/15 Grantor: Forest Trace Holdings LLC, Marc Cooper, mgr. Grantee: CH Retail Fund II Denver Forest…

John Winslow

October 4, 2017

Crossroads signs leases for 290,742 square feet

Crossroads Building 2

An electrical supply company growing by leaps and bounds in the Denver market and another large, expanding building products firm leased the last available spaces in a new 376,598-square-foot industrial building at Crossroads Commerce Park. Graybar Electric Inc. signed a lease for 238,194 square feet of warehouse/distribution space in Crossroads Building 2 at 480 E.…

Jill Jamieson-Nichols

October 2, 2017

Google purchases soon-to-open Boulder campus for $130.09M

tryba's google campus

The developers of Google’s new 200,000-square-foot Boulder campus sold the property to the tech giant for $130.09 million. Google initially signed a 15-year lease for the campus at 2920 Pearl St., which will open before the end of the year. “It wasn’t our intention to sell, but things fell into place for both parties, and…

Jill Jamieson-Nichols

October 2, 2017

Denver is nation’s seventh-greenest city, says CBRE

Green Building Adoption Index shows more green in cities with benchmarking laws For the fourth year in a row, Denver ranked among the top 10 U.S. cities for the percent of its office space qualified as green-certified, according to the annual Green Building Adoption Index study by CBRE and Maastricht University.[vc_column width="1/3"][vc_column width="1/3"]

CREJ

July 12, 2017

CBRE: Construction remains active in Denver’s industrial market

Several new projects will break ground this quarter, totaling 1.6 million square feet. The trend is expected to continue throughout the year, and demand for large blocks of Class A space continues to grow.[vc_column width="1/3"][vc_column width="1/3"]

CREJ

July 12, 2017

CBRE: Office market holding steady at midyear

JLL market update

The average direct asking rate in the second quarter dipped slightly year over year. Despite the decline, the average direct asking rate remained 33.5 percent higher than its post-recession average, according to CBRE.[vc_column width="1/3"][vc_column width="1/3"][vc_column width="1/3"]

CREJ

July 12, 2017

JLL: Construction and availability swing pendulum toward office users

JLL market update

Despite positive total net absorption, total vacancy rose for the fifth consecutive quarter thanks to new deliveries with empty space. Newly built Colorado Center Tower III adds to the market 229,670 square feet, with no signed leases to date, plus One Belleview Station delivered 318,000 s.f., but tenants will not occupy until next quarter. [vc_column…

CREJ

July 7, 2017

CBRE: Suburban Denver tops office occupancy cost increases

JLL market update

With a 17.2 percent increase year over year, suburban Denver was the fourth-fastest-growing market globally Suburban Denver had the highest increase in prime office occupancy costs—which reflect rent, plus local taxes and service charges for the highest-quality, “prime” office properties—from first-quarter 2016 through first-quarter 2017 among the U.S. markets studied in CBRE Research’s latest annual…

CREJ

June 23, 2017