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"]

The construction labor shortage crisis along the Front Range is poised to get worse. Commercial real estate industry officials anticipate needing about 50,000 more qualified people in the trades during the next year. “That’s pretty significant,” said Karla Nugent, chief business development officer at the Weifield Group. Construction workers last year are shown working on…

Denver County Property Location: 3200 Cherry Creek Drive South, Denver, “The Citadel” Property Description: 130,652-sf, seven-story office building, YOC 1987 Land Size: 1.576 acres Sales Price: $37.03M, or $283.39 psf Reception No.: 2017078693 Grantor: TR Citadel LLC by: LPC Realty Advisors I LP, Jenifer Ratcliffe, pres. Grantee: Amstar-Citadel LLC, Jason Lucas, pres., 303-534-6322, 1200 17th St.,…

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…

Denver County Property Location: 4545 Airport Way, Denver Property Description: 89,021-sf, five-story office building, YOC 2006 Land Size: 12.819 acres Sales Price: $14M, or $157.30 psf Reception No.: 2017073844 Grantor: Prologis, Megan C. Robert, SVP Grantee: Frontier Airlines Inc. Closing Date: 6/1 Financing: Cash Comments: This property was listed by Joe Heath, Andy Ross and Don Misner…

Donna Blair, the recently appointed chief operating officer of Continuum Partners, has a history with the Denver-based company that developed such high-profile development as Belmar years before she joined the company. “I’ve been dancing with the company for one way or the other for close to 20 years,” said Blair of Continuum, which also is tackling…

Amstar acquired its first new asset in the United States in a year with the $37.03 million purchase of a Cherry Creek office building. Denver-based Amstar bought the 130,652-square-foot Citadel at 3200 Cherry Creek South Drive from TR Citadel LLC. The building was 85 percent occupied. The acquisition follows a 12-month asset management and disposition…

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Adams County Property Location: 6800-6880 N. Broadway, Denver, “Clear Creek Business Center” Property Description: 187,865-sf industrial buildings, YOC 1985 (8 buildings) Land Size: 10.79 acres Sales Price: $18.1M, or $96.35 psf Reception No.: 47383 2017 Grantor: Clear Creek Business Park LLC, Etkin Johnson Real Estate Partners, Bruce H. Etkin, mgr. Grantee: WPC Clear Creek LLC, Honolulu,…