Two Newly-Renovated Multifamily Properties in Colorado Springs Sell for $74.1M
Two newly-renovated multifamily communities, Park at Penrose and Park at Palmer, in Colorado Springs, have sold for a combined $74.1 million. Park at Penrose with 374 units, and Park at Palmer with 112 units, are located at 3802 and 3903 Half Turn Road, situated along N. Academy Boulevard near Austin …
Atwell Suites Denver Airport Sells for $18.8M
JC Hospitality LLC, a California investment group, has acquired the Atwell Suites located between 64th and 65th Avenue, just west of Tower Road in Denver. The all-suites contemporary concept hotel was constructed in 2022 and has 96 units. The property was sold on March 14 for $18.8 million, which equates to $195,833 per unit. …
Cushman & Wakefield Awarded Office Leasing Assignment for Cherry Creek West
Denver-based real estate and community developer East West Partners announced today that it has selected Cushman & Wakefield as the office leasing broker for Cherry Creek West, the mixed-use redevelopment on the 13 acres of land adjacent to Cherry Creek Shopping Center. The Cushman & Wakefield team of Nicholas Pavlakovich, Matthew Gautreau and Michael …
DMCAR Pays Tribute to CRE “Heavy Hitters” Including Broker of the Year
On March 16, DMCAR honored its top commercial real estate producers of 2022 at the association’s annual Heavy Hitters Awards. In addition, the association honored its Broker of the Year and introduced the inaugural winner of its DMCAR Project of the Year award, as well as office, retail and industrial deals of …
Embrey to Build 283-Unit Apartment Community on Leetsdale Drive
San Antonio-based Embrey, a diversified real estate investment company, has purchased 5231 Leetsdale, a 219,562-square-foot (5.04 ac) land property in Denver. A sale price was not disclosed. The site is home to a small retail strip building and a hardwood flooring company. Embrey plans to demolish the buildings and build a …
Land and Power Availability Drawing Data Center Developers to Aurora and Colorado Springs
According to a new report from CBRE, data center developers are targeting Aurora and Colorado Springs in their search for land, based on power availability and proximity to enterprise clients, aerospace and defense contractors, and military installations, Denver is one of the data center markets profiled in CBRE’s biannual report. …
State-of-the-Art Last-Mile Industrial Facility Breaks Ground in Centennial
CenterSquare Investment Management and Quannah Partners broke ground last week on The Point at Denver South, a two-building, 195,000-square-foot last-mile logistics industrial development at Chambers Rd. & Otero Ave., Centennial. Site work construction began in January 2023, with an anticipated project delivery by January 2024. The investment will comprise two buildings: Building …
Verdad Real Estate Trades Net Leased Starbucks & Shake Shack Properties in Greenwood Village
Dallas-based Verdad Real Estate Development & Construction Services has sold its drive-thru Starbucks and Shake Shack properties located at 7979-7999 East Arapahoe Road in Greenwood Village. The properties traded in individual transactions to separate buyers. Starbucks sold for $3,012,950 at a 4.07% cap rate while the neighboring Shake Shack property sold …
Denver Property Among Top 50 U.S. Industrial Asset Sales in 2022
As the industrial real estate sector is still going strong, investment giants continue to scoop up the best-in-class industrial real estate assets in select locations across the United States. With that in mind, using CommercialEdge market research data, CommercialSearch set out to identify the Top 50 U.S. Industrial Property Sales of 2022 in …
The Bascom Group Acquires Age-Restricted Apartment Community in Lakewood
Avenida Lakewood, a 230-unit, active aduly community that is restricted to residents age 55 or older, has sold to private equity firm The Bascom Group for an undisclosed price. Llocated at 11001 West 15th Place, Avenida Lakewood, designed by architecture firm KTGY, opened on July 4, 2019. The community features spacious one-and …