BrokerageIndustrial

Fully Leased Industrial Portfolio in Colorado Springs Sells for $54.3M

Denver-based Flywheel Capital (“Flywheel”) has sold its mission-critical Class A office/flex and industrial manufacturing/distribution portfolio in Colorado Springs to a private partnership for $54.3 million. The portfolio consists of two adjacent buildings totaling 289,018 square feet which Flywheel acquired in September 2018. Flywheel executed a significant capital improvement and repositioning program which …

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BrokerageRetail

The Shops at Riverfront Park in Denver Sells for $11.8M

The Shops at Riverfront Park in downtwon Denver has sold for $11.8 million, or approximately $370 per square foot. The sale of the 31,898-square-foot multi-tenant asset — located at the base of three condo buildings — included the entirety of the commercial/retail space located within the Riverfront Park neighborhood. The …

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Affordable HousingBrokerageHospitalityMultifamilySupportive Housing

Colorado Coalition for the Homeless to Convert Newly Acquired Hotel into Supportive Housing

In December, the Colorado Coalition for the Homeless acquired the former Clarion Inn, located at 200 W. 48th Avenue in Denver, for $24 million. The Colation will transform the hotel into 215 units of supportive and transitional housing by mid-2023, known as Renewal Village. The purchase came during same week that President Biden signed a 1.7T …

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BrokerageReports

High Interest Rates and a Recession Will Make 2023 Challenging for CRE

According to CBRE’s 2023 United States Real Estate Outlook, high interest rates and a recession will make 2023 a challenging year for commercial real estate. Though inflation eased in late 2022, it was still running at more than 7%. The Fed will continue raising rates until it sees a marked …

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BrokerageInvestmentMultifamilyRenovation

Garden-Style Apartment Community in Colorado Springs Provides Impressive ROI

Following the purchase and renovation of a 288-unit, garden-style apartment community in Colorado Springs, Texas-based Lynd Acquisitions Group (LAG) has sold the property for $67.5 million, surpassing investment goals three years sooner than anticipated. Lynd bought the Village at Lionstone in December 2020, at the height of the pandemic, for …

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BrokerageHospitality

Grange Hall Sells to Leading Adult Nightclub Operator

Houston-based RCI Hospitality Holdings, Inc. purchased Troy Guard’s Grange Hall, located at 6575 Greenwood Plaza Blvd. on Dec. 19, as part of RCI’s expansion in the greater Denver area. RCI paid $5.2 million, consisting of $1.875 million in cash and a 5-year, 6.67% bank financing note with a 25-year amortization, according to a …

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BrokerageHospitalityRetail

Buffalo Wild Wings in Castle Rock Sells for $2.5M

Marcus & Millichap recently brokered the sale of a Buffalo Wild Wings property strategically located at the Promenade at Castle Rock, adjacent to the Outlets at Castle Rock. The property sold for $2,525,000 or $399.46 per square foot. The property is a part of Buffalo Wild Wings’ new restaurant design, featuring a unique …

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BrokerageConstructionDevelopmentMultifamilyRetail

Trailbreak Partners Pays $12M for Future Site of 18-Story Residential Project

According to property records, Denver-based Trailbreak Partners has purchased commercial/retail property located on the northeast corner of East 8th Avenue and Lincoln Street at 808 N. Lincoln St., for $12.04 million. The site is currently home to LowDown Brewery & Kitchen and amounts to a total of 14,730 square feet. According to a September press release, Trailbreak …

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Affordable HousingBrokerageMultifamilyRenovationSenior Housing

Archway Communities Announces Acquisition of Montview Manor Senior Housing

Archway Communities, Inc., a faith-based affordable housing nonprofit, closed on the purchase of Montview Manor located at 1663 Steele Street, Denver, on December 14, 2022, adding the 13-story building to its existing portfolio of 10 properties. The 88-unit property is located half a block off of City Park and serves …

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BrokerageRetail

Two Art Concepts Join Boulder’s Pearl Street Mall

Two new art-themed organizations have joined Boulder’s famed Pearl Street shopping and dining district. Colorado Glass Works leased retail suite D at 1500 Pearl St., and The New Local leased an office suite at 741 Pearl St. “People come to Boulder’s Pearl Street from all over the country knowing they …

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