The Winslow Report 4-20-16

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Winslow Report

The Winslow Report, authored by John V. Winslow, CRE, is a compilation of transactions recently completed in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties. The information was gathered from county records and deemed to be reliable. Other sources of research include brochures and information verified by owners or listing/selling brokers. Winslow is president of WinComps LLC and has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

 

Adams County

Property Location: 12899 Grant St., Thornton, “Primrose School”

Property Description: 9,811-sf day care center, YOC 2005, masonry construction

Land Size: 1.37 acres

Sales Price: $2.9M, or $295.59 per sf

Reception No: 2016000025604

Closing Date: 4/4

Grantor: Hasta La Vista LLC, George Laycock, mgr., 770-442-5527

Grantee: Roots To Wings Thornton Development LLC, Beth Deasy, mgr., franchise owner, 303-279-0525

Financing: payable to Wells Fargo Bank, NA

Comments: Buyer purchased property from the developer/grantor. Grantee owns several franchises in the Denver area, including Primrose of Stapleton, 2501 Syracuse St. and Primrose of Reuion, 17050 E. 103rd Ave.

Property Location: 10439-59 Chambers Road, Commerce City, “Shops at Reunion”

Property Description: 4,926-sf retail building, YOC 2015, masonry construction

Land Size: 0.67 acres

Sales Price: $2.59M, or $525.78 per sf

Reception No: 2016000024564

Closing Date: 4/1

Grantor: Drake Chambers Shops Two LLC

Grantee: P&L Reunion LLC, Elizabeth Contos, mgr.

Comments: Three-tenant retail building including AT&T Wireless, Jimmy John’s & Little Caesars Pizza. Transaction was handled by SVN Denver Inc., Troy Meyer, 303-217-7008, & Kevin Matthews, 480-720-5103. Chris Saros, CCIM, of Dunton Commercial Real Estate, 303-758-3131, represented the buyer. Property sold on a 6.1% in-place cap rate. The developer (grantor) paid $300,000, or $10.26 per sf, for the site in December 2014.

Property Location: 15611 E. Colfax Ave., “Caliber Collision”

Property Description: 13,307-sf automotive center, YOC 1954, renovated in 2000, masonry construction

Land Size: 1.82 acres

Sales Price: $1.97M, or $148.15 per sf

Reception No: 2016000022532

Closing Date: 3/25

Grantor: Little Technical Center Ltd., Joseph A. Little, mgr.

Grantee: 1403 East 2nd LLC, Jay P. Bruton, mbr., 303-913-5328

Financing: $1.09M payable to Bank of Hays

Comments: Single-tenant building leased to Caliber Collison. Transaction was handled by SVN Denver Inc., Troy Meyer, 303-217-7008, & Kevin Matthews, 480-720-5103. Buyer purchased 7436 S. Eagle St. (Caliber Collision building) in March 2016 for $1.46M. The indicated going-in cap rate was 7.1%.

Property Location: S/S East 104th Avenue, ¼ mile east of Marion Street, Thornton

Property Description: Vacant retail land

Land Size: 2.54 acres

Sales Price: $1.3M, or $11.75 per sf

Reception No: 2016000025292

Closing Date: 4/4

Grantor: Broadstone Avena Investors LLC, by: Bascom Group,

Jerome Fink, mgr., 949-955-0888

Grantee: Wal-Mart Real Estate Business Trust

Comments: Lots 1-2 Broadstone at Thornton Sub. Listed by Jay Landt of Colliers International, 303-283-4569

Property Location: 11955-11965 Tower Road, Commerce City

Property Description: Residential and agricultural improvements

Land Size: 9.43 acres

Sales Price: $907,000, or $2.21 per sf

Reception No: 201600016206

Closing Date: 3/2

Grantor: Chase Partners LLC, Robert Smith, mgr.

Grantee: William C. Farmer

Financing: $728,000 payable to First National Bank of Santa Fe

Comments: Two separate parcels located on the southwest corner of Tower Road & East 120th Avenue in unincorporated Adams County, zoned agricultural but in the path of development. See APN: 01723-00-0-00-267 & 01723-00-0-00-268. Joe Krahn of Cushman & Wakefield represented the seller, while Carmon Hicks of JLL represented the buyer.

Property Location: S/S East 104Th Avenue, approx. 325’ east of Altura Street, Commerce City

Property Description: Vacant land

Land Size: 52,272 sf

Sales Price: $705,672, or $13.50 per sf

Reception No: 2016000024301

Closing Date: 4/1

Grantor: SW 104th LLC by: Southwestern Investment Advisors, Mark Campbell, pres., 303-534-1040, www.swinvest.com

Grantee: Brewer Envoy Commerce City LLC, Brewer Development, David Brewer, Dallas, TX 214-521-7707

Financing: See Deed of Trust 24303, payable to Spirit of Texas Bank SSB

Comments: Listed and sold by Jeffrey Hirschfeld, 303-454-5425, of Antonoff Co. Brokerage Inc. 10,600 sf, “Prestige Preschool Academy” will be developed. There will be 33 parking spaces, including two handicapped. The site also fronts the north side of East 103rd Place; ingress and egress will be via East 103rd Place only.

Arapahoe County

Property Location: 13696 E. Iliff Ave., Aurora, “DoubleTree Aurora”

Property Description: 248-room hotel with 186,678 sf, YOC 1982, brick/frame

Land Size: 6.15 acres

Sales Price: $14.8M, or $59,677 per room, or $79.28 per sf

Reception No: D6029977

Closing Date: 3/23

Grantor: Aurora Hotel Propco LLC, Sujit Suhadecvan, signatory, 1290 Avenue of the Americas, Suite 914, NYC, NY 10104

Grantee: Aurora Col Hotel Partners LLC by: O’Reilly Hospitality Management LLC, Tim O’Reilly, managing partner, 417-851-8700, Springfield, MO 65804

 

Property Location: 6021 S. Syracuse Way, Greenwood Village

Property Description: 82,659-sf, three-story office building, YOC 1982

Land Size: 4.56 acres

Sales Price: $10.05M, or $121.58 per sf

Reception No: D6032702

Closing Date: 3/31

Grantor: Syracuse Hill I LLC, Patrick Bailey, pres., Triton Inv. Co., 303-830-7848

Grantee: Melcor Syracuse LLC by: Melcor Developments Arizona LLC, Darin Rayburn, VP, 480-699-4687

Financial: Cash

Comments: Listed and sold by Dan Grooters & Riki Hashimoto of Newmark Grubb Knight Frank. Building has approximately 247 parking spaces. Property sold for $5.31M in December 2012.

 

Property Location: 8000 S. Lincoln St. & 300 E. Mineral Ave., Littleton

Property Description: 58,631-sf warehouse, YOC 1981, twin-tee & brick construction; 59,090-sf warehouse, brick with metal roof, YOC 1982; (117,721 sf)

Land Size: 7.88 acres

Sales Price: $7.95M, or $67.52 per sf

Reception No: D6030866

Closing Date: 3/25

Grantor: Mineral Center Colorado LLC by: RAIT General Inc., James Sebra, CFO

Grantee: Lincoln and Mineral LLC, WC Johnson, Bill Johnson & Charlie Johnson

Financial: $5.6M payable to Wells Fargo Bank, NA, due 4-10-25

Comments: Listed and sold by T.J. Smith, SIOR, Tim Shay & Cody Sheesley of Colliers International, 303-745-5800. 300 E. Mineral has approximately 22,400 sf available at $9.50 per sf NNN plus $3.51 per sf expenses. Buyer is local investor based out of Lakewood, 720-350-4680, www.wcjre.com. This property was 74% occupied at time of closing with an in-place cap rate of 7.1%.

 

Property Location: 16891 E. Quincy Ave., Aurora, “The Shops at Quincy Place”

Property Description: 6,302-sf multitenant retail building, YOC 2004, brick

Land Size: 34,848 sf

Sales Price: $3.8M, or $602.98 per sf

Reception No: D6032633

Closing Date: 3/29

Grantor: D&B Holdings LLC, Fisk Inv. LLC, Darren Fisk, mgr., 303-501-8860

Grantee: Moorpark Davita, 24692 El Camino Capistrano, Dana Point, CA 92629

Comments: Listed and sold by Dan Grooters & Riki Hashimoto of Newmark Grubb Knight Frank. Three-tenant building leased to Rubio’s, Panda Express and Game Stop. Lease rate average is estimated to be $33.25 per sf plus $3.50 CAM charges. Property sold on an in-place cap rate of 6.1%. Arapahoe County shows building size to be 6,716 gross building area. Seller is principal of Forum Real Estate Group in Denver, www.forumre.com

 

Property Location: 8006 E. Arapahoe Road, Centennial, “Urgent Care”

Property Description: 14,100-sf, two-story office/retail building, YOC 1996, block

Land Size: 33,106 sf

Sales Price: $3.91M, or $277.34 per sf

Reception No: D6032633

Closing Date: 3/31

Grantor: Arapahoe 8006 LLC, Bob Koontz, mgr., c/o Kelmore Dev. *303-779-1800

Grantee: BS Property Investments LLC, Bing Lao & Song Du, mbrs.

Financing: $2.65M payable to U.S. Bank, NA

Comments: Building was 100% leased and sold by CBRE Inc. *Donald E. Siecke is CEO of Kelmore Development Corp., the grantor. This is a multitenant building with Urgent Care as the anchor tenant, and Pup E Luv Dog Grooming and Print Connections located at rear of building, with Alpha Bicycle Co.y and AFC Urgent Care on the south end of the building.

 

Property Location: 2950 S. Umatilla St., Englewood

Property Description: 14,144-sf warehouse, YOC 1976, twin-tee construction

Land Size: 21,043 sf

Sales Price: $1.33M, or $94.32 per sf

Reception No: D6032287

Closing Date: 3/31

Grantor: Uhrig Holdings LLC, Craig Uhrig, mgr., 720-235-5700

Grantee: 1235 Delaware LLC, Jim J. Rivas, mgr.

Comments: Building contains two 16’x16’ drive-in doors with 2,544-sf office space on two floors. There is 6,000 sf of outside storage. Quoted lease rate is $8.50 per sf. Seller is with Specialty Metals Co. Property was listed by Unique Properties LLC-TCN Worldwide, Brad Gilpin, 303-512-1196 or bgilpin@uniqueprop.com. Buyer, who is the principal owner of Mac-Bestos Inc., 303-534-2767, acquired the building.

 

Property Location: 7201 S. Broadway, Littleton

Property Description: 9,137-sf, two-story office building, YOC 1979, brick/frame

Land Size: 34,848 sf

Sales Price: $1.1M, or $120.39 per sf

Reception No: D6030597

Closing Date: 3/28

Grantor: Foundation Holdings LLC, John D. Morgridge, mgr.

Grantee: Arapahoe Credit Union, 303-740-7063

 

Property Location: 15 Sable Blvd., Aurora

Property Description: Vacant land

Land Size: 2.23 acres

Sales Price: $715,000, or $7.36 per sf

Reception No: D6033422

Closing Date: 4/1

Grantor: Aurora Cityplace Ventures LLC

Grantee: Sable Properties 2016 LLC & Hendricks Communities LLC

Financing: $429,000 payable to Adams Bank & Trust

Comments: Property is located on the northwest corner of Sable Boulevard & East Ellsworth Avenue. Hendricks Communities LLC is the developing partner, 303-722-6088 or www.hendrickscommunities.com. It has developed several multifamily properties in the Denver metro area, especially properties financed with tax credits. No plans have been initiated for this property, but planners consider this site to be a TOD development as it will be one-quarter mile east of the proposed light-rail station at South Abilene & East Ellsworth Avenue. Debi Robertson is the developer contact for the buyer.

 

Boulder County

Property Location: W/S Renaissance Drive, north & south of Plateau Road, Longmont

Property Description: Vacant land, 199 lots planned

Land Size: 67.31 acres

Sales Price: $12,21M, or $4.16 per sf, or $61,343 per buildable lot

Reception No: 03509088

Closing Date: 3/30

Grantor: WS-SML LLC (Carl Nelson)

Grantee: KB Home Colorado, Matt Mandino, pres.

Comments: This site has not been fully entitled and was conveyed via metes and bounds. Somerset Meadows Filing No. 5, zoned R-1, city of Longmont, has been approved subject to city of Longmont but not recorded. This property was annexed 4-1-98.

Property Location: 404 Marshall Road, Superior, “Buffalo Wild Wings”

Property Description: 5,898-sf restaurant, YOC 2004, masonry

Land Size: 43,887 sf

Sales Price: $2.16M, or $366.03 per sf

Reception No: 03509746

Closing Date: 4/1

Grantor: Berlin LP, Terry A. Lawrence

Grantee: BL Buffalo LLC, 1839 N. Lincoln Ave., Chicago, IL 60614

Comments: This appears to be a long-term investment.

Property Location: 1830 55th, Boulder

Property Description: 13,920-sf, two-story warehouse, YOC 1974, twin-tee

Land Size: 27,380 sf

Sales Price: $1.8M, or $129.31 per sf

Reception No: 03508527

Closing Date: 3/28

Grantor: 1830 Holding LLC, Donald Reeser, mgr.

Grantee: Colorado Green Building Company LLC, John Paolella, mgr.

Comments: Chris Hansen & Danny Lindau of the Colorado Group represented the buyer, while Marc Lippitt of Unique Properties LLC-TCN Worldwide was the listing broker. The building was vacant at the time of sale and the buyer may use it for his business. 

Denver County

Property Location: 1875 Lawrence St., Denver

Property Description: 185,737-sf*, 15-story office building, YOC 1982, masonry construction with a 208-space underground parking garage

Land Size: 25,101 sf

Sales Price: $63.75M, or $339.21 per sf

Reception No: 2016037539

Closing Date: 3/23

Grantor: ROC II DPC 1875 Lawrence LLC, by: DPC Companies, Christopher King, 303-796-8288, & Justin Lutgen, director of acquisitions, 720-528-3349.

Grantee: UCP 1875 Lawrence LLC, by: Unico Properties, Austin Kane, VP & regional director, Denver, austink@unicoprop.com or 303-713-1900

Financing: $39.27M payable to Bank of America, NA, due 4-5-20

Comments: Kristen Whitworth is director of leasing for the seller, DPC. Grantor purchased the building from Behringer Harvard in May 2014 for $46.7M, or $251.43 per sf. Property manager for the grantee is Hunter Marr, 303-832-1660, Ext. 101. Buyer is a Seattle-based company and has purchased several buildings in the Denver-Boulder area. John Jugl, 303-515-8018, & Mary Sullivan, 303-515-8019, both of HFF, represented DPC Companies in the transaction. *Press release shows 192,541 sf while DPC website reflects 185,737 sf. The property increased in value by 1.43% per month, or 36.5%, since May 30, 2014.

 

Property Location: 7800-7900 E. Union Ave, Denver, “Denver Corp. Ctr. II, III”

Property Description: 375,314-sf, two 11-story office buildings, each with 187,657 sf, YOC 1982, masonry construction with a shared 331-space parking garage and 1,075 surface parking spaces.

Land Size: 13.57 acres

Sales Price: $40.54M, or $108.00 per sf

Reception No: 2016028751

Closing Date: 3/23

Grantor: Alecta Denver LLC, Martin Van Ardenne, CRE, 415-321-6113

Grantee: ROC III DPC Denver Corporate Center, by: DPC Companies, Christopher King, 303-796-8288, & Justin Lutgen, director of acquisitions, 720-528-3349.

Financing: $39.4M payable to BOKF, NA, aka Bank of Arizona

Comments: John Jugl, 303-515-8018, & Mary Sullivan, 303-515-8019, both of HFF, represented the parties in the transaction. Grantor is located in San Francisco and its website is www alecta.com. The building at 7800 E. Union Ave. was formerly occupied by URS Energy but was vacant at time of closing. The twin building located at 7900 E. Union Ave. has approximately 23,000 sf available for lease. The buyer plans to spend approximately $13M in upgrades for the vacant building. The buyer may also spin off two acres on the northeast corner of the site and/or build an additional parking deck for future expansion plans of the property.

 

Property Location: 3025 W. Floyd Ave., Denver, “Fielder’s Creek Apartments”

Property Description: 217-unit, three-story apartment, 9 buildings plus clubhouse, 163,174 sf, YOC 1983, frame construction

Land Size: 7.41 acres

Sales Price: $32.4M, or $312,500 per unit, or $339.21 per sf

Reception No: 2016037539

Closing Date: 3/23

Grantor: Foothills Apartments Investors LLC, Aukum Mgmt LLC, Jason M. Fuchs

Grantee: STAR Fielders Creek LLC, c/o Steadfast Asset Holdings Inc.

Financing: Cash

Comments: Buyer is based out of Irvine, California, 949-852-0700, with Rodney F. Emery as CEO & Ella Shaw Neyland as president. Seller can be reached at Aukum Management LLC, Jason M. Fuchs, 415-408-7447, or Linton Young Sr., 415-408-7446. Seller renovated the property in June 2011, shortly after closing for $15.65M. The renovations included new appliances, flooring, paint, hardware, countertops, electrical fixtures and kitchens. Washers and dryers also were installed for each unit. This transaction was negotiated by the CBRE Inc. multifamily team. The studio units contains 535 sf @ rents of $1.65 per sf; the one-bedroom unit contains 654 sf and rents for $1.37 per sf; while the two-bedroom/two-bath contains 928 sf and rents for $1.21 per sf.

Property Location: 3900 Joliet St., Denver

Property Description: 140,683-sf warehouse, 6 dock-high doors and 5 drive-in doors, fenced yard, with rail, YOC 1974, metal construction

Land Size: 7.16 acres

Sales Price: $4.21M, or $29.95 per sf

Reception No: 2016039089

Closing Date: 3/23

Grantor: Joliet Associates LPA, Sandra Lea Shapiro Friedland & Lorie Ann Hamermesh, mgrs., 29 Hillcrest Road, Berkeley, California 94705

Grantee: Colorado Salt Products LLC, Stoney Barton, CEO of FSTI Inc., 6300 Bridgepoint Pkwy., Building One, Suite 200, Austin, Texas 78730, 888-290-7548

Financing: $4.21M payable to JPMorgan Chase, due 3-28-33

Comments: See sublease between FSTI Inc. and KIK (Denver) LLC, aka KIK Custom Products Inc., 905-660-0444, 4-21-11, via Reception No. 2011043921 and master lease with grantor and FSTI Inc. dated 4-7-11, recorded 2011037927. The sublease to KIK Productions included approximately 56% of the building, or 78,284 sf. See buyer’s Houston address, 300 Jackson Hill, Houston, TX 77007. Original lease was for 10 years commencing March 25, 2011, and ending March 31, 2021, with two options to extend for five years each. Master Tenant (FSTI Inc.) exercised its option to purchase as recited in the memorandum of lease. FSTI (Colorado Salt Products LLC) occupies approximately 62,400 sf of industrial space at 3910 Joliet St.

 

Property Location: 5101 E. Yale Ave., Denver, “TOD site”

Property Description: 10,544-sf retail center, YOC 1974, (land value) proposed five-story, 112-unit apartment building

Land Size: 27,000 sf

Sales Price: $2.55M, or $94.44 per sf (land value), or $22,768 per buildable unit

Reception No: 2016039059 (two deeds combined)

Closing Date: 3/29

Grantor: JDM Equities LLLP & Senco Invmts., James De Sena, mgr., 303-722-3269

Grantee: JP Yale Street Station, Jay Perlmutter, mgr., 303-595-9919

Financing: Cash

Comments: According to information from sources deemed to be reliable, the existing property is currently 87.27% occupied @ an average of $14.91 per sf triple net, including $3.61 per square foot CAM charges. The property sold on an in-place cap rate of 6.2% , however, the building will be razed in the summer of 2016 and a 112-unit, five-story building will be constructed by early 2017. The property is strategically located at the northwest corner of East Yale Avenue & East Yale Circle, approximately 700’ west of Interstate 25. This property is located within 400 ‘of the Yale light-rail station. The land value indicated by the purchase price is $94.44 per sf. The seller was represented by Ron Allum, 303-312-4264, Cushman & Wakefield, & Bill Trinen, 303-481-6390, of Trinen Realty Partners & the buyer represented themselves.

 

Property Location: 1640 S. Federal Blvd., Denver, “Elm Creek Apartments”

Property Description: 40-unit, two-story apartment building w/30,176 sf, YOC 1961, brick construction, all two-bedroom, one-bath units

Land Size: 1.12 acres

Sales Price: $2.88M, or $72,000 per unit, or $95.44 per sf

Reception No: 2016036393

Closing Date: 3/21

Grantor: Jaman Solutions LLC, Steve B. Pham, mgr.

Grantee: Elm Creek Partners LLC, Carlos Trujillo, mgr., Denver

Financing: $2.16M @ 4.85% payable to FirstBank, due 3-5-26

Comments: Last sold for $2.12M in October 2013. See second parcel of vacant land containing 13,600 sf, APN: 05204-03-037 & 05204-03-039.

 

Property Location: 4979 W. 44th Ave., Denver

Property Description: 13,092-sf multitenant retail building, YOC 1926, masonry construction, historic theater contains 4,616 sf with off-street parking

Land Size: 23,392 sf zoned U-MX-2

Sales Price: $2.1M, or $283.62 per sf

Reception No: 2016036868

Closing Date: 3/23

Grantor: 4979 W. 44th Avenue LLC, Francis E. Schultz III

Grantee: 4979 W. 44th Ave. LLC, Kenneth J. Wolf, mgr.

Financing: $1.47M payable to MidFirst Bank

Comments: Listed by Dorit Fischer, 303-565-3025, & Hayden Hirschfeld, 303-565-3048 of NAI Shames Makovsky

 

Property Location: 2190 E. 18th Ave., Denver

Property Description: 1,637-sf retail building, YOC 1992 (land value)

Land Size: 12,500 sf, zoned C-MX-5

Sales Price: $1.5M or $120.00 per sf

Reception No: 2016036087

Closing Date: 3/22

Grantor: Jones 2190 LLC, Dr. Tony E. Jones, mgr., 303-388-3613

Grantee: Gaylord 52 LLC, Michael Mathieson, Kevin J. Larson & Matthew T. Dendorfer, mgrs., 4454 Tennyson St., Denver 80212

Financing: $900,000 payable to Collegiate Peaks Bank, due 3-22-17

Comments: Seller was president of Cornell Pharmacy until the company merged with Pencol Compounding Pharmacy. Multifamily development/townhome is planned.

 

Property Location: NWC W. 36th Ave. & Lipan Street (3601 Lipan St.), Denver

Property Description: Vacant land

Land Size: 15,625 sf

Sales Price: $1.43M, or $91.20 per sf

Reception No: 2016036173

Closing Date: 3/21

Grantor: 36 Lipan Group LLC, Jeff Palmquist, mbr.

Grantee: Sell Now Colorado LLC, James Loftus, mgr., 303-522-4819

Financing: Cash

Comments: The zoning for this property is U-TU-B2. The county assessor shows this to be vacant land but other sources show there are multifamily units constructed in 1962. It is unknown if these buildings have been razed.

 

Property Location: 1415 Yosemite St., Denver

Property Description: 16-unit, three-story apartment, 12,686 sf, YOC 1960, brick

Land Size: 9,375 sf

Sales Price: $1.25M, or $78,125 per unit, or $98.53 per sf

Reception No: 2016031794

Closing Date: 3/21

Grantor: Casa Christina LLC, Todd R. Walsh, mgr.

Grantee: B&A Exchange Facilitators LLC, John L. Brewerton III, mbr., 9940 Glen View Ave., Baton Rouge, LA 70809

Financing: $937,000 payable to BankFinancial FSB

Comments: The buyer was represented by Joe Hornstein & Scott Fetter of Pinnacle Real Estate Advisors LLC.

 

Property Location: 7701 E. First Place, Denver

Property Description: 2,997-sf office/medical building condominium, YOC 2006, brick construction

Land Size: 9,674 sf

Sales Price: $850,000, or $283.62 per sf

Reception No: 2016031306

Closing Date: 3/9

Grantor: KMTJ LLC (June Kelly Johnson, mgr.)

Grantee: International School of Denver Inc.

Financing: $2.5M payable to Equable Investment Corp, due 10-1-16


Property Location:
2265 Lawrence St., Denver

Property Description: 1,865-sf art deco, brick office building, YOC 1942

Land Size: 6,278 sf

Sales Price: $700,000, or $375.34 per sf

Reception No: 2016037063

Closing Date: 3/23

Grantor: 2265 Lawrence Street LLC, Andrew R. Toole, mgr.

Grantee: Stack Development LLC, Grant Barnes, Luke Stone & Michael Nulty

Financing: $580,000 payable to ANB Bank, due 9-23-18

Comments: Property was sold by Jamis Cos., Jay Soneff, 303-295-1815. Last sales price was $335,000 in February 2005.

 

Douglas County

Property Location: 675 Genoa Way, Castle Rock, “Bubbles Liquor World”

Property Description: 27,395-sf, single-tenant retail building, YOC 2004, masonry

Land Size: 2.94 acres

Sales Price: $12.8M, or $467.24 per sf

Reception No: 2016018644

Closing Date: 3/30

Grantor: Krier Investments LLC, Adam S. Krier, mgr.

Grantee: Genoa Way LLC, *Brandon Ruggieri, Boston attorney, signatory on deed of trust, 635 Massachusetts Ave., Suite 10, Arlington, MA 02476

Financing: $4.2M payable to Brookline Bank

Comments: Lease between grantor and tenant JFK Investments was dated 5-1-15 (Bubbles Liquor). Donna Levine is the owner of Bubbles Liquor World, 303-468-8100. The grantor (Adam Krier) was the owner of Bubbles Liquor World from June 2010 to May 2015. The property sold on a triple-net investment with lease for 10 years or more for an undisclosed cap rate.

Property Location: 9980 Trainstation Circle, Lone Tree

Property Description: Vacant land, plan for 215 apt. units

Land Size: 3.18 acres

Sales Price: $3.29M, or $23.71 per sf, or $15,279 per buildable unit

Reception No: 2016012516

Closing Date: 3/2

Grantor: Ridgegate Investments Inc., Keith Simon, 720-279-2581

Grantee: IMT Capital III RG LLC, Mike Hooks, mgr., 818-784-4700

Comments: Lot 6A, Ridgegate-Section 15 Filing No 17, 1st Amendment. Property is located on the southeast corner of Chatham Drive & Park Meadows Drive, and fronts on w/s Trainstation Cr. Press release on website www.imtcapital.com indicates site is designed for 219 units and deed shows 215 units planned.

Property Location: 12760 Stroh Ranch Way, Parker

Property Description: 17,474-sf, two-story office building, YOC 2001, masonry

Land Size: 1.21 acres

Sales Price: $1.85M, or $105.87 per sf

Reception No: 2016016473

Closing Date: 4/1

Grantor: York Partners LLC, Andrew Kienitz, mbr.,

Grantee: Harwal Inc., Judy L. Frank, pres.

Financing: $986,000 payable to Bank of the West

Comments: Mitch Trevey & Nick Nickerson of Trevey & Co. were the listing brokers, 303-841-1400. There was 2,547 sf available on the lower level for lease at $18-19 per sf; 14,927 sf is occupied, with spaces ranging from 610 sf to 1,886 sf and the largest space of 2,541 sf available. Property sold on a 7.75% in-place cap rate.

Property Location: 312 N. Wilcox St., Castle Rock “Shellabarger Building”

Property Description: 6,000-sf, two-story retail building, YOC 1923, brick

Land Size: 3,000 sf

Sales Price: $600,000, or $100 per sf

Reception No: 2016016473

Closing Date: 3/21

Grantor: Robert J. Kramsvogel

Grantee: Niebur Golf Development LLC, Joe Niebur, mgr., 719-527-0313

Comments: Ben Swanson is the development and acquisitions director with Troy Coats being the director of development for the buyer.

Jefferson County

Property Location: 6792 W. 19th Ave., Lakewood

Property Description: 192-unit, three-story apartment complex, with 8 buildings, 140,712 sf, YOC 1985, brick with frame construction

Land Size: 4.67 acres

Sales Price: $32M, or $166,667 per unit, or $227.42 per sf

Reception No: 2016029081

Closing Date: 3/30

Grantor: SL APTS LLC by: Goldman Sachs Asset Mgmt. LP, Joseph Sumberg

Grantee: Aukum-Sloan’s Lake Investors LLC, Jason Fuchs, pres., 415-408-7447

Financing: $22.4M payable to Grandbridge Real Estate Capital LLC, due 4-1-23.

Comments: This transaction was negotiated by the CBRE Inc. multifamily team. This property sold in April 2012 for $17M, or $88,542 per door. Buyer is based out of Larkspur, CA 94939. The signer on the deed of trust was Michael Gorham with Aukum Management, 415-408-7447. The property value increased 88.23% since the last sale, or 1.33% per month growth. The seller spent over $1.04M in capital improvements over the last 12 months, which included interior upgrades.

 

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