Transactions Report Week Ending 05.18.18
Northstar Commercial Partners Announces Children’s Hospital of Colorado Long-term Lease
Northstar Commercial Partners announced the signing of a long-term lease with Children’s Hospital of Colorado for space at 830 Potomac in Aurora. Brokers Matt Smith of Vector Property Services and Gabe Uhrig of Northstar Commercial Partners represented the ownership. Broker Bob Whittelsey of Colliers International represented the tenant.
“This building will allow Children’s Hospital the right office and medical space to meet their growing needs, while providing them with excellent signage and exposure on I-225 between Colfax and 6th Avenue, near the Fitzsimmons Medical Campus where Children’s Hospital already has a major presence,” said Brian Watson, Founder and Chairman of Northstar. “Northstar couldn’t be more eager for the opportunity to provide such space to Children’s Hospital.”
The move is expected to bring hundreds of jobs to the space, as well as over $27 million in value.
The 105,806-square-foot agreement will fill the remaining vacancy of a building that an investment entity created by Northstar acquired vacant over 2 years ago, bringing it to 100% occupancy.
Greystone Unique Apartment Group Represents Seller & Buyer of 27 Units in Denver
Greystone Unique Apartment Group recently brokered the sale of a 19-unit multifamily asset located at 1516 Perry Street in Denver. The property sold for $4.05 million ($213,157 per unit).
SloHI Flats is a three-story building with 13,950 rentable square feet. Constructed in 1962 and extensively remodeled in 2016, the property has a varied unit mix of a studio, six 1-bedroom units and twelve 2-bedroom units.
Prior to the sale, there were numerous property improvements including brand new kitchens, bathrooms, landscaping, stairs, electrical, roof and outdoor signage.
Pinnacle Announces Sale of 1575 Lafayette Street
Pinnacle Real Estate Advisors, LLC announced the sale of The Lafayette Apartments at 1575 Lafayette Street in Denver. The 41-unit Victorian apartment building sold for $9.525 million ($232,317 per unit; $387.77 per square foot). JB Hochman and Erik Toll represented the buyer and seller in the transaction.
“The seller refurbished the property in such a manner that preserved its classical feel, all the while offering tenants modern appliances and ample amenities,” stated Toll.
“The property’s central location and desirable unit mix rendered it an ideal acquisition candidate for the buyer, a Chicago-based REIT,” added Hochman. “It is a unique opportunity and we expect them to excel here.”
Pinnacle Announces Sale of 9100 West Jewell Avenue
Pinnacle Real Estate Advisors, LLC announced the sale of 9100 West Jewell Avenue located in Lakewood. The 8,900-square-foot office building sold for $1 million ($112.36 per square foot). Senior Advisor Eric Shaw represented the seller.
“This was an owner/user sale,” stated Shaw. “The buyer plans on putting their company, DL Engineering, into a portion of the building and lease the rest out. The property went under contract within approximately 30 days of being on the market and sold for 87% of list price.”
Pinnacle also announced the sale of 5359 South Elati Street in Littleton. The 8-unit building sold for $1.065 million ($133,125 per unit; $205.44 per square foot). Principal Josh Newell and Associate Advisor Barton Thompson represented the local seller.
Trevey Land and Commercial announced the sale of a 4,544-square-foot prime restaurant space at 9964 South Twenty Mile Road in Parker for $1.6 million. The seller, DCL-LM1 LLC, was represented by Trevey Land and Commercial’s Patrick McGlinchey and Mitch Trevey. The buyer, The Nguyen LLC, was represented by the Crosbie Real Estate Group’s Eli Boymel. The new owners intend to use the space for a new upscale restaurant to add to Parker’s expanding culinary scene.
Executive Vice President of Unique Properties, Inc., Phillip A. Yeddis has arranged a long-term, 10,110-square-foot lease on behalf of Global Connections, LLC at Park Place, located at 5690 DTC Boulevard. Yeddis represented the tenant.
- ARA Newmark announced the sale of a 10,000-square-foot retail property at 9200 E. 40th Avenue in Denver for $875,000. Newmark Knight Frank agents Michael Lindemann and Carolyn Martinez represented the buyer, New Horizon Real Estate Development – Colorado, LLP.
- ARA Newmark also announced the sale of a 20,000-square-foot retail property at 7950 E. Mississippi Avenue in Denver for $2.8 million. Newmark Knight Frank agents Riki Hashimoto and Daniel Grooters represented the buyers, Valentia Building, LLC and Bear Creek Plaza, LLC.
SVN | Denver Commercial announced the sale of the CareNow Urgent Care building located at 11551 West Ken Caryl Avenue in Littleton. The team of Kevin Matthews, Troy Meyer and John Lutkewitte of SVN / Denver Commercial were the only brokers involved in the transaction.
SVN | Denver Commercial also announced the sale of the AutoZone & Sherwin Williams Building located at 10155-10157 South Parker Road in Parker. The team of Kevin Matthews, Troy Meyer and John Lutkewitte of SVN / Denver Commercial were the only brokers involved in the transaction.