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JLL market update

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, 2017
Sloans 1525

Centre 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, 2017
Sakura

Hirschfeld, 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, 2017
2400 Trade Center Ave.

Balfour Pacific spends $69.6 million in Longmont

This post is only available to subscribers of the the Colorado Real Estate Journal. If you have a subscription, please log in to view this post. If you do not […]

Kris Oppermann Stern

June 19, 2017

Spaces 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, 2017

Tiffany 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, 2017
Citadel

Amstar 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, 2017
Boulder portfolio

Boulder 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, 2017
Comp of the Day handshake image

Denver 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, 2017
Comp of the Day handshake image

Denver 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