Transactions Report Week Ending 06.22.18
Thrive Workplace Sells
SVN | Denver Commercial announced the sale of the Thrive Workplace building located at 1415 Park Avenue in Denver. The team of Kevin Matthews, Troy Meyer and John Lutkewitte of SVN / Denver Commercial represented the buyer, BPD Partnership and B-22 Partners, LP. The seller was represented by NKF.
The property is a two-story office building that was recently renovated to fit the needs of the tenant, Thrive Workplace, which is a successful, local coworking community with two locations in Denver.
“The successful buyer purchased the property as an up-leg to their 1031 exchange that resulted from a disposition of a property portfolio in Pennsylvania,” said Kevin Matthews. “They were attracted to the location of the property just two blocks from Coors Field, the success of the coworking model in today’s economy, a creative build out, and annual rent increases. The buyer was able to close quickly, all cash.”
CareNow Arvada Sells
SVN | Denver Commercial announced the sale of the CareNow Urgent Care building located at 6413 West Fig Street in Arvada. The team of Kevin Matthews and Troy Meyer of SVN / Denver Commercial were the only brokers involved in the transaction.
The property is a brand new build to suit with a long-term triple net lease. The tenant is a subsidiary of the HCA Hospital System, which is the largest hospital operator in America.
“The successful buyer purchased the property as an upleg to their 1031 exchange that resulted from a disposition of a retail property in Parker,” said Kevin Matthews. “The buyer, Champa One, LLC, was attracted to the credit of the tenant, medical use in a retail setting, net lease with minimal responsibilities, and newly developed building. The buyer was very qualified and able to obtain attractive financing in a timely manner, which helped to motivate the seller.”
- Pinnacle Real Estate Advisors, LLC announced the sale of 117 Pennsylvania Street in Denver. The 7,594-square-foot multifamily building sold for $2.8 million ($369 per square foot). Principal Kevin Calame represented the buyer, LaMont Intrados, LLC. Leon and Sherrie Sutton were the sellers in the transaction.
ARA Newmark announced the sale of a 60,468-square-foot industrial space, located at 620 East 52nd Avenue in Denver, for $7,615,944. Newmark agents Mike Wafer, Timothy D’Angelo and Mike Wafer, Jr. represented the seller, TC Crossroads #7, LLC.
- Quantum Commercial Group has arranged the sale of a medical office building, located at 1699 Medical Center Point in Colorado Springs, for $2.9 million. The building features 9,585 square feet of medical office space. Kay Folan of Quantum Residential Group and Mary Frances Cowan of Quantum Commercial Group represented the seller, 1699 Medical Center Point LLC. Steve Ghirardo and Nick Ghirardo of Ghirardo Real Estate Group represented the buyer in the deal.