BrokerageMultifamily

Unique Properties Announces Three Metro Denver Transactions

DENVER— Unique Properties, Inc., recently announced the following metro Denver CRE sales: 1301 North Santa Fe Drive, Denver, sold for $1,650,000. The 3,303-square-foot, colorful building was marketed as a land development opportunity and sits on 12,000 square feet of prime Denver land. The C-MX-8 zoning, plus the UO-1 & UO-2 overlays, permit a multitude …

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BrokerageConstructionEducation

U.S. Labor Shortage Impacting CRE Industry, JLL Report Says

DENVER — A JLL report called “Where are all the workers?” states that the country’s current labor shortage is having a significant impact on the commercial real estate industry, resulting in higher vacancy rates, lower asking rents and greater concessions across markets. As of January 2018, roughly 6.3 million positions remained …

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BrokerageFeatureRetail

Strong Fundamentals Support Denver Retail in Overcoming Increased Headwinds

By Drew Isaac, First Vice President Investments and Ryan Bowlby, Senior Associate, Marcus & Millichap. Denver’s retail market is benefitting from healthy employment growth, rising incomes and fundamentally sound new developments. Employers in energy, telecom and IT are creating well-paying positions, leading to an increase in disposable income and a boost to local retailers. In 2017, retail …

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BrokerageRetail

7 Buildings in RiNo Sell for $50.86M

DENVER — EDENS, one of the nation’s leading retail real estate owners, operators and developers, recently announced its acquisition of nearly 120,000 square feet of retail in RiNo for $50.86 million. According to the Denver Business Journal, the buildings sold as follows: 2601 Walnut St. sold for $12,162,800. 1336 27th St. sold …

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BrokerageDevelopmentMultifamilyRetail

Land on Broadway Sells for $12M

DENVER— 99 South Broadway, a 2.36-acre land site on the northwest corner of Bayaud Avenue and Broadway in the Baker neighborhood has sold for $12M. Vancouver, Washington-based Holland Partner Group will build a 238-unit apartment community on the land that will be the first Class A residential project to be built on that …

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BrokerageIndustrialRetail

Majority of Denver’s Warehouse Inventory is Inadequate for E-Commerce, CBRE Says

DENVER — According to a new report from CBRE, momentum for additional construction of U.S. warehouses is not likely to wane because the vast majority of the country’s warehouse stock is decades old and ill-suited for the demands of e-commerce. Denver’s warehouse age is even older than the U.S. average, coming in …

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BrokerageMultifamily

Value-Add Multifamily Property in Broomfield Sells for $50M

DENVER – Willow Run Village multifamily community located at 12621 Zuni Street in Broomfield has sold for $50 million. According to CBRE specialist, continued investor interest in value-add multifamily opportunities is driving competition for available properties and strong pricing. CBRE’s Dan Woodward, David Potarf and Matt Barnett represented the seller, Griffis/Blessing of Colorado …

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BrokerageIndustrial

Commercial Millwork Provider Signs 65,000-Square-foot Lease at Colorado Trade Center

DENVER — Freelance Enterprises, a manufacturer of premium custom commercial millwork, has signed a 65,126-square-foot lease at the Colorado Trade Center, a 700,000-square-foot industrial complex located near the intersection of I-25 and I-70 in central Denver. The move to the new location at 5151 Bannock Street is approximately one mile east of Freelance Enterprises’ current …

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BrokerageIndustrialOfficeRetail

CBRE Release Q1 Reports for Metro Denver’s Industrial, Retail and Office Sectors

DENVER — CBRE just released their first quarter 2018 research reports covering the office, industrial and retail sectors for the metro area. The industrial market looks exceptionally strong. Five projects delivered in Q1 2018, adding 517,547 sq. ft. of new space to the Denver industrial market. Total sales volume exceeded $400 million. Denver’s office market posted 260,889 …

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BrokerageHospitality

Denver Hotel Sells for $11M

DENVER — It was announced today that Denver’s Best Inn & Suites, a 190-room hospitality property has sold for $11,000,000. Joshua S. Tammen and Gordon Allred, hospitality investment specialists in Marcus & Millichap’s Phoenix and Ontario offices, had the exclusive listing to market the property on behalf of the seller, a limited liability …

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