Transactions Report Week of 01.22.18
Transwestern Announces Sale of Fully Occupied Business Center in Southwest Denver
Transwestern’s Denver office announced the sale of a 42,380-square-foot flex property, located at 8022 Southpark Circle in Littleton. Transwestern’s Brad Cohen, Larry Thiel, Cori Helms and Lauren Quiram represented the seller, GCCFC 2005-GG5 South Revere Industrial LLC.
Built in 2001, High Pointe Business Center currently has 100 percent occupancy comprised of a diverse mix of stable, industry-leading tenants including Eaton Corp., AimLock and Beabout Brock Easley. The property is located within the Hilltop Business Centre at Southpark, a micro-market currently experiencing limited availability in flex and industrial product. The property was sold in the Ten-X auction process and involved several bidders.
“As its name suggests, the property sits elevated overlooking Highway 85, offering incredible views of the Front Range,” said Thiel. “The asset attracted more than 10 competitive bidders through the marketing process, resulting in a sales price that exceeded expectations.”
Greystone Unique Apartment Group Announces Sales in Fort Collins
Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., recently brokered the sale of a 24-unit multifamily asset located at 2419 Custer Drive in Fort Collins. The property sold for $6 million ($254,166 per unit).
Constructed in 2016, 2419 Custer Drive is a 3-story building. The property consists of 21 two-bedroom units and 3 three-bedroom units. The location provides residents easy access to Interstate 25, Fort Collins amenities and a wide range of outdoor activities. The buyer was attracted to the growing Fort Collins population, low vacancy rates and prime location.
Greystone Unique Apartment Group also announced the sale of Prospect Station, a 68-unit apartment complex and one commercial space located at 221 and 303 West Prospect Road in Fort Collins. The complex sold for $16.516 million. Phil Dankner of the Greystone Unique Apartment Group represented the buyer in this transaction.
Prospect Station was recently constructed with high end finishes. All units feature custom European frameless cabinets, granite slab countertops, balconies, in unit washer/dryer, contemporary paint and wood flooring. The assets include reserved covered parking, elevator access, fully secured buildings and a gathering space/picnic area.
Prospect Station is rented primarily to young professionals and faculty/staff of the neighboring Colorado State University. Located at the intersection of West Prospect Road and South College Avenue, the property is within walking distance to Colorado State University campus and Prospect Max station, providing access to midtown and downtown Fort Collins.
Marcus & Millichap announced the sale of Beauty Supply Warehouse, a 23,400-square-foot net-leased property located in Aurora, for $2.65 million. Brian C. Smith, CCIM, investment specialist in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was the tenant of the building.
Cushman and Wakefield announced Conscience Bay Company leased 139,417 square feet of industrial space, located at 20101 East 36th Drive in Aurora, to Lanter Delivery Systems, Inc. Tyler Smith, Alec Rhodes and Aaron Valdez of Cushman & Wakefield represented the landlord, Conscience Bay Company. Tom Stahl of Colliers International represented the tenant.
ARA Newmark announced the sale of 0.63 acres, 27,345 square feet, near Regis University for $1.133 million.
- SVN announced the sale of a 14,033-square-foot warehouse/storage space at 655 Academy Ct in Windsor. Jerry Chilson represented the buyer, HDE, LLC.
- SVN announced the sale of a 5,158 square foot retail space, located at 3500 Larimer Street in Denver. Michael Carnes represented the seller, KOCV Fund LLC.
Pinnacle Real Estate Advisors, LLC announced the sale of 9417 West 56th Place in Arvada. The duplex building sold for $510,000 ($255,000 per unit). Associate Advisor Erik Toll and Principals Jules Hochman and Justin Brockman represented the seller in the transaction.
- NavPoint Real Estate Group announced the sale of a 8,500-square-foot flex/industrial building at 130 S. Main Street in Brighton. Matt Call and Jason Mayer of NavPoint Real Estate Group represented the seller, CJTT, LLC. Tim Conarro of Summit Commercial Brokers represented the buyer, Boardwalk Edmond, LLC.