7-Eleven sells for more than $1,000 per sf
A private investor picked up a newly built 7-Eleven at a price topping $1,000 per square foot. The buyer paid $3.34 million, or $1,089.48 per sf, for the 7-Eleven net-leased property at 3800 Tower Road, part of the Tower Business Center, in Denver. The build-to-suit for 7-Eleven features a 15-year, triple-net lease. It also has…
Jennifer HayesOctober 13, 2019
Cushman & Wakefield: ‘Denver is just freaking hip’
Is Denver cool or what? According to Cushman & Wakefield’s Cool Streets 2019 Report, Denver – and not just River North and Lower Downtown – is an “18-hour Cool Street City.” “Cool Streets” are urban neighborhoods with live-work-play environments rich in creative class workers, with great demographics - and where retail generally is thriving. Since Cushman & Wakefield published its first report in 2016, “Cool Streets” have continued to emerge in 24-hour cites like Boston, Chicago and San Francisco. “But now we are seeing the trend accelerate in places such as Boise, Charlotte, Denver, Nashville, Portland, Salt Lake City, Tampa and other metros global investors used to overlook,” the report said. “Affordable housing and employment are driving that acceleration.”
Jill Jamieson-NicholsOctober 10, 2019
Newly built Parker retail center trades for $7.7 million
A local buyer purchased a Parker retail property at a price topping $300 per square foot. The buyer, FDL LLC, paid $7.7 million, or $319.70 per sf, for Country Meadows Square, a multitenant retail center at 19539 Hess Road, at the northwest corner of Parker Road and Hess according to public records. Built in 2018,…
Jennifer HayesOctober 7, 2019
Roundhouse sells for $10.1 million to California group
A historic railway roundhouse-turned-retail-center recently sold for $10.1 million. CWC Income Properties 6 LLC, a California-based investment group, added to its Colorado holdings with the purchase of the Roundhouse at 600 S. 21st St. in Colorado Springs. Originally constructed in 1889 to service and store locomotives, the stone roundhouse was entirely repositioned and renovated in…
Jennifer HayesSeptember 30, 2019
Grand Prix Motor Sports bldg. trades for $6.3 million
An investment group revved up to a Littleton retail building to the tune of $6.3 million. The buyer, 1475 Mountain View LLC, paid $181.60 per square foot for the freestanding Grand Prix Motor Sports building at 3105 W. County Line Road, near the intersection of County Line Road, South Santa Fe Drive and C-470. The…
Jennifer HayesSeptember 22, 2019
Bowles Crossing to get new tenants, look
A number of new tenants are coming to Bowles Crossing. Phoenix-based Vestar, which purchased the retail property at the northeast corner of Wadsworth Boulevard and Bowles Avenue in Littleton, recently announced a number of new tenants joining the 454,062-square-foot center in addition to a refreshed exterior and multifamily development. “Bowles Crossing looks and feels very…
Jennifer HayesAugust 30, 2019
Iconic southeast Denver property sells for $8.3 million
Totaling 86,600 improved square feet on 4.8 acres, it is best known as the Sheplers Western Wear building, visible from Interstate 25.
Jennifer HayesAugust 26, 2019
So, you want to be a mixed-use developer?
As the population grows and land gets more expensive to develop, mixed-use projects are going to be the means of new development in the future.
CREJAugust 9, 2019
Shadow-anchored center in Northglenn sells for $5.22M
A Safeway shadow-anchored center in Northglenn recently sold for $5.22 million. A local, private buyer purchased Washington Point, a 36,442-square-foot retail center at 540 E. 120th Ave. in Northglenn. Constructed in the late 1990s, Washington Point was 92% occupied at the time of closing. The largest tenant at the center is ARC Thrift, which occupies…
Jennifer HayesAugust 4, 2019
The Great Recession, the great expansion and Colorado retail investment real estate
Since the end of the Great Recession (2008-2009) and the start of the great expansion (second half 2009), anyone fortunate enough to count themselves a commercial real estate professional in Colorado has benefited.
CREJAugust 2, 2019