Transactions

Transactions Report Week of 01.29.18

Northstar Commercial Partners Purchases Iconic ‘Offices at The Art’ Building in Denver for $17.1 M

Denver-based commercial real estate firm Northstar Commercial Partners publicly announced its purchase of the iconic Offices at the Art building for $17.1 million.

Constructed in 2015, the ±52,000 SF 3-story office is Class AA space and is popularly known for its stunning architectural design along Broadway, with commanding floor to ceiling windows. Offices at the Art has key proximity to Denver’s most thriving areas and access points including Broadway, Speer Boulevard, Interstate 25, Cherry Creek, Capitol Hill and Downtown Denver.

Offices at the Art is currently leased by Four Winds Interactive, a long term, single-tenant with demonstrated commitment to the building. Four Winds Interactive has quickly become the industry-leader for enterprise communications software and has won a variety of prestigious awards and mentions including Forbes 2015 list of America’s Most Promising Companies and Top 100 Digital Employers in Colorado by Colorado Biz.

HFF Announces Closing of Joint Venture Equity for Multi-Housing Development in Parker

Holliday Fenoglio Fowler, L.P. (HFF) announced the closing of joint venture equity for the development of PDG Parker, a 255-unit, Class A multi-housing community in Parker. HFF worked on behalf of the developer, Price Development Group, to arrange joint venture equity through an institutional partner. The HFF equity placement team included Senior Director Mark Erland and Director Matthew Benson along with Managing Director Josh Simon and Director Leon McBroom.

PDG Parker will be located at South Pine and Tallman Drives just south of Twenty Mile Road and downtown Parker. The 22.3-acre site is adjacent to State Highway 83, which provides connectivity to the E-470 toll road offering residents convenient access into major employment centers around the Denver metropolitan area.

Upon completion in 2019, PDG Parker will consist of 255 luxury apartment units housed within two- and three-story garden-style buildings with attached garages. The property will offer 705-square-foot one-bedroom and 1,423-square-foot two-bedroom units featuring stainless steel appliances, custom cabinetry, granite countertops, large kitchen islands, hardwood-style flooring, in-unit washers and dryers, and patios or balconies. Common area features include a spacious clubhouse with fitness center, indoor golf simulator, business center, entertainment room with media center, kitchen area, pet spa, bike and ski repair shop and a covered patio adjacent to the community’s resort-style swimming pool. Other outdoor amenities include a grilling area, hot tub, fire pit, dog park, children’s playground and a walking path.

Additional Transactions:

  • SVN announced the lease of a 5,845-square-foot office space at 9250 E Costilla Ave in Greenwood Village. Aaron Chase and Brian McCririe represented the tenant.
  • SVN announced the sale of 9.28 acres of development land at SEC Firestone and Colorado boulevards in Firestone. Cobey Wess and Kim Meyer represented the seller.
  • Sheldon-Gold Realty Inc. announced KEPT GRANNIE LLC purchased a 8,475-square-foot office building, located at 7127 S. Alton Way in Centennial, for $1.220 million. The seller was World Market Leaders LLC, represented by Eric Gold of Sheldon-Gold Realty Inc. The buyer was represented by Jim Erpelding of Re/Max Professionals.
  • Sheldon-Gold Realty Inc. announced Y & M Real Estate LLC purchased a 3,849-square-foot office condominium at 1211 S. Parker Road for $415,000. The seller, Spragg Holdings LLC, was represented by Eric Gold of Sheldon-Gold Realty Inc. The buyer was represented by Doug Jennings of Re/ Max Commercial Alliance.
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