CBRE: Suburban Denver tops office occupancy cost increases
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, 2017Centre Point buys Sloans office building as area takes off
Centre Point Properties put a Sloan’s Lake office building under contract and saw occupancy jump by 30 percent by the time it closed the $11.05 million acquisition. The Sloan’s neighborhood is changing at a “mind-boggling” pace, said Centre Point President and founder Tucker Manion. Tucker Manion “Even when we went under contract 75 days ago…
Kris Oppermann Stern
June 21, 2017Hirschfeld, Nichols selected for Sakura Square
Sakura Square LLC and Tri-State/Denver Buddhist Temple have chosen the Nichols Partnership/Barry Hirschfeld Jr. team as their preferred developer for the redevelopment of Sakura Square and the temple in downtown Denver. Sakura Square covers one square block bordered by Larimer, Lawrence, 19th and 20th streets. “We are excited to enter into this next phase of…
CREJ
June 20, 2017Balfour Pacific spends $69.6 million in Longmont
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Kris Oppermann Stern
June 19, 2017Spaces nabs last spot in newest office building at Arista
Spaces is bringing co-working space to the U.S. Highway 36 corridor, taking the last block of office space in Arista’s newest speculative building. Spaces leased approximately 30,000 square feet on the first, second and fifth floors at 8181 Arista Place in Broomfield. It will have a small, highly visible presence on the first floor, which…
Kris Oppermann Stern
June 19, 2017Tiffany Square office property sells for $12.18 million
Initially plans call for the buyer to convert vacant space in Tiffany Square for UHaul’s occupancy and keep the existing tenants in place.
Jolene Wollett
June 18, 2017Amstar buys The Citadel office building
Denver-based Amstar has acquired The Citadel, a 131,000-square-foot office building in the Cherry Creek submarket. This acquisition marks Amstar’s first new investment in the U.S. after a focused asset management and disposition effort of its existing portfolio over the past 12 months. Amstar is familiar with the Denver market, having developed several residential properties throughout…
CREJ
June 16, 2017Boulder office building portfolio trades for $101.25 million
JP Morgan closed a blockbuster deal in downtown Boulder with the $101.25 million acquisition of three office buildings. The portfolio included 1050 Walnut, Canyon Center at 1881 19th St., and 1900 15th St. The seller was Blackstone Group, which spun off the buildings from an approximately $2 billion portfolio it bought last year. “This is…
Kris Oppermann Stern
June 13, 2017Denver office building investor adds 61,000 square feet to portfolio
Arapahoe County Property Location: 7009 S. Potomac St., Centennial Property Description: 61,804-sf, three-story office building, YOC 1984 & 2001 Land Size: 1.15 acres Sales Price: $3.95M, or $63.91 psf Reception No.: D7053725 Grantor: Centennial Professional Center LLC, Elizabeth L. Santangelo, mgr. Grantee: A13 Properties LLC, Peter Charczenko, mgr., 720-523-0462, Ext. 948 Closing Date: 5/11 Financing: $2.77M payable to…
John Winslow
June 13, 2017Denver Mansion near Colfax & Gaylord sells for $940,000
Denver County Property Location: 1547 Gaylord St., Denver Property Description: 6,423-sf, three-story office building (mansion), YOC 1921 Land Size: 6,250 sf Sales Price: $940,000, or $146.35 psf Reception No.: D7053725 Grantor: B&E Holdings LLC, Chuck Buie, mgr. Grantee: Education 1983 LLC Closing Date: 5/31 Comments: Listed by Paul Schneider, Mark Goodman & Chase Grimes of Pinnacle Real Estate…
John Winslow
June 12, 2017