Transactions Report Week of 04.09.18
Marcus & Millichap Arranges Sale of 48-Unit Apartment Building
Marcus & Millichap announced the sale of Moline Apartments, a 48-unit apartment property located in Aurora, for $5.04 million. Peter Standley and Boomer Beatty, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
Situated on 0.96 acres, the subject property was originally constructed in 1973 and offers its tenants a mix of one and two-bedroom options. The unit mix consists of 24 one-bedroom units and 24 two-bedroom units.
The property, located at 1380 Moline Street, underwent recent improvements including a new roof on the north building and new hot water heaters. Residents at the Moline Apartments have access to community amenities including off-street parking, nearby bus stops, local restaurants and multiple parks.
- NavPoint Real Estate Group announced the sale of the 4,776-square-foot office/flex building at 7108 S. Alton Way Suite M in Centennial. Heather Taylor and Matt Kulbe of NavPoint Real Estate Group represented the seller, Sky Blue Real Estate Limited. Tim Shay of Colliers International represented the buyer, J.D. Steel Co Inc.
NavPoint also announced the sale of the 98,750-square-foot industrial building at 1211 Atchison Court in Castle Rock. Matt Call of NavPoint Real Estate Group represented the buyer, B2B Property LLC. Patrick Henry of Unique Properties Inc represented the seller, MCO Property Holdings, LLC.
Pinnacle Real Estate Advisors, LLC announced the sale of Zuma Lofts, located at 3455 West 38th Avenue in Denver. The 22,236-square-foot mixed-use building consists of two ground-level retail units and 18 multifamily units above. Zuma Lofts sold for $6.86 million ($309 per square foot). Principal Matt Lewallen represented the buyer, RLC Zuma, LLC, and the seller, Zuma Lofts, LLC.
- ARA Newmark announced an industrial sale at 8644 South Peoria Street, Building #5, in Englewood for $9,637,475. The 62,925-square-foot building was sold to Gordon Development II, LLC, represented by Hoff & Leigh Colorado Springs, LLC. ARA Newmark agents Jason Addlesperger, David Lee and Keith Bell represented the seller, IBC Concord IV, LLC.