Transactions Report for Week of 06.19.17
Newmark Knight Frank Sell Denver Industrial Space for $7,248,462.
Newmark Knight Frank, one of the world’s leading commercial real estate advisory firms. recently announced the sale of 69,350-square-feet of industrial space located at 485 East 52nd Avenue Denver, for $7,248,462.
ARA Newmark Sells Marion Place Apartments, Denver.
ARA Newmark — the largest national full-service investment advisory brokerage firm in the nation that focuses exclusively on the multihousing industry — recently announced the sale of 1258 Marion Street, Denver, CO 80218 for $2,650,000.
“We were pleased to represent the seller of Marion Place, as ARA Newmark also brokered the sale of the property to them in 2014. The seller has since completed full renovations to the common spaces and units, which feature hardwood floors, quartz countertops and stainless steel appliances. The seller combined the former laundry room and a studio unit to create a large one-bedroom unit that added great value in the sale. The out-of-state buyer was seeking a strong cash-flowing property; Marion Place benefits from remarkably fast leasing due to its proximity to Cheesman Park, restaurants and nightlife, making it the ideal acquisition.”
Pinnacle Sells Wadsworth Arms Portfolio For $4,420,000
Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 6700 Wadsworth Boulevard in Arvada, Colorado. The 26-unit portfolio sold on June 19th with a contract price of $4,420,000; $170,000 per unit and $149.37 per square foot.
The property was constructed in 1957. Josh Newell, principal, represented the local seller in the transaction.
Pinnacle Lease of 3394 South Broadway in Englewood
Pinnacle Real Estate Advisors also announced the lease of 3394 South Broadway located in the up and coming Englewood neighborhood. Features include a renovated store front, ample parking and optimum visibility on the hard corner of Broadway and Englewood Parkway. The 2,000-square-foot retail building leased to a Tap House. Jamie Mitchell, principal, and Amanda Dorotik, associate advisor, represented the Landlord in the transaction.
“This was a great fit for the tenant who is going to set up a board-gaming tap house,” stated Mitchell. “This block has been transforming over the last few years with new restaurants and retail shops making it one of the most desirable areas for young Denverites.”
MARCUS & MILLICHAP SELLS PARKVIEW, A 14,400-SQUARE-FOOT RETAIL PROPERTY
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced this week the sale of Parkview, a 14,400-square-foot retail property located in Greeley, Colorado, according to Bob Kaplan, regional manager of the firm’s Denver office. The asset sold for $1,485,000.
Griffin D. McCarty, Bob Kaplan and Brandon Kramer, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor. “This was a great example of how the 1031 process keeps the market fluid,” said McCarty. “The local buyer paid cash to wrap up their exchange while the local seller exchanged into something bigger and better.”
Parkview is located at 109 E 22nd St in Greeley. The town lies 49 miles north-northeast of Denver, 20 miles southeast of Fort Collins and is home to roughly 100,000 residents. It is the most populous city within Weld County and the 12th most populous city in Colorado.
NavPoint Real Estate Group Sells 1.147 acres of land in Centennial for $285,000
NavPoint Real Estate Group is pleased to announce the sale of 1.147 acres of land at NWC Broncos Parkway & Cherokee Trail in Centennial. The seller was DRG Broncos Parkway, LLC. The buyer was Four Acres Broncos Parkway LLC. Heather Taylor and Matt Call of NavPoint Real Estate Group represented the seller. This deal successfully closed in June 2017. The property is conveniently located off Parker Road and Broncos Parkway located less than 1 mile north of E470.
NavPoint Real Estate Group is a comprehensive Commercial Real Estate Services Firm that handles a wide variety of investment assignments. The company provides services including Exclusive Brokerage Representation, Property/Asset Management, and Consulting, throughout Colorado and the Western US covering all Commercial Property types. NavPoint brings an experienced team to every assignment that has a broad understanding of the national Commercial Real Estate market, while also bringing acute local knowledge to each assignment.
NavPoint Real Estate Group is based in Castle Rock, Colorado. The firm handles commercial real estate sales, leasing and investment in all property types with market coverage through Colorado. The firm is currently involved in the exclusive brokerage or management of over 1,500,000 SF of commercial real estate.