Office Sublease Remains Elevated, while Industrial Leasing Activity Underscores its Resilience
CBRE just released its Q2 reports on Metro Denver’s office and industrial property sectors. Office sublease availability remains elevated but a recent decline indicates signs of leveling off. At the same time, a robust industrial leasing activity underscores Denver industrial’s resilience. Q2 2023 Metro Denver Office Highlights After reporting record-breaking …
Denver-Based Hotel Investor Acquires Two Marriott Hotels in Clearwater Beach, FL
Denver-based Mission Hill Hospitality, a leading select service and extended stay hotel investor, has acquired two Marriott hotels located in Clearwater Beach, Florida: the 144-key AC Hotel Clearwater Beach and the 139-key Courtyard Clearwater Beach. Terms are undisclosed. These are the 30th and 31st properties added to the Mission Hill …
EverWest Sells Junction 23 Creative Redevelopment in Denver’s RiNo District
Leading real estate investment advisor EverWest Real Estate Investors has sold its creative workspace property Junction 23, a creative redevelopment completed by the company in the heart of Denver’s RiNo. Connecticut-based Ivy Realty paid $26.35 million, according to public records. Junction 23 is located at 2323 Delgany St., at the corner …
Seller of Apartment Property in Denver’s Cheesman Park Neighborhood Makes $2M Profit
Calibrate Real Estate, a Denver-based real estate brokerage firm, announced the listing and sale of a 3-story apartment building that consists of 18 units across 15,983 square feet in Denver’s Cheesman Park neighborhood. Located at 1220 North Gaylord Street, the property sold for $3.7 million ($205,556 per unit and $231.50 …
W.E. O’Neil Construction Acquires Downtown Littleton Building for its New Colorado Headquarters
W.E. O’Neil Construction Company has purchased 5800 S. Nevada Street in Littleton for $5.6 million. The building will serve as the company’s new Colorado headquarters. W.E. ONeil will occupy the facility in late 2023 and is currently offering its Denver location, 227-229 Vallejo Street, for sale or lease. RC Myles, …
Trion Properties Acquires Apartment Community in Aurora
Trion Properties, a multifamily real estate investment company based in Los Angeles, Calif. and Miami, Fla., has acquired Trailpoint on Highline, a 198-unit apartment community located in Aurora. Managing Director Nick Steele and Director Nate Moyer of Berkadia Denver represented the seller, Castle Hill Corporation, a private investment firm based …
Nearly 60% of Office Vacancy Concentrated in Just 10% of Buildings
JLL’s latest Chart of the Week reveals that nearly 60 percent of Denver’s office vacancy is concentrated in just 10 percent of buildings. Vacancy remains largely concentrated in a limited number of buildings. Despite headlines of widespread vacancy in the office sector caused by the pandemic and changing work habits, the …
Southeast Denver’s Greenwood Plaza Renews Kaiser Permanente in 120,979 SF Lease
Cushman & Wakefield announced that One & Two Greenwood Plaza has extended its lease term with Kaiser Permanente for 120,979 square feet of space at the Class A office campus in Englewood. Kaiser serves as the anchor tenant of the two-building project totaling 197,528 square feet. The suburban campus is …
Conscience Bay Company Acquires Seagate Campus in Longmont
Conscience Bay Company (“CBC”) and its partner, Battery Global Advisors (“BGA”), have acquired the Seagate campus — a 533,238-square-foot, state-of-the-art R&D facility situated on 40.5 acres in Longmont — from Seagate Technology Holdings, which leased back the R&D facility for 10 years. Essex Financial arranged a $58.5 million acquisition loan …
NexGen Properties Buys Boutique Office Building in Greenwood Village
Greenwood Village-based NexGen Properties, a private real estate acquisition, development, and investment firm, has purchased a 51,527-square-foot two-story, multi-tenant boutique office building located at 384 Inverness Parkway, in an all-cash transaction for an undisclosed price well below replacement cost. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller …