Joint Venture Receives Financing for S’PARK Railyards in Boulder
A joint venture between The John Buck Company, Kinship Capital and Element Properties, has secured $29.4 million in construction financing for S’PARK Railyards (Railyards), a 69,263-square-foot Class A office building in Boulder. JLL worked on behalf of a joint venture to secure the five-year, floating-rate construction loan through Wintrust Financial …
Collegiate Banks Opens 5th Location in DTC
Collegiate Peaks Bank, division of Glacier Bank, has opened a new branch location in the Denver Tech Center at 5450 Greenwood Plaza Blvd., Ste. 100. The bank has moved into the building’s approximately 6,500-square-foot main floor space. The new building was developed by Urban Esprit, a Colorado homebuilder since 1989. That company will occupy …
Union Terrace Office Building in Lakewood Sells for $11.3M
Bancroft Capital Advisors, Inc. of Manhattan Beach, Calif. has acquired Union Terrace office building, a four-story, 84,145-square-foot office building located at 12596 West Bayaud Avenue in Lakewood. According to CBRE, Bancroft plans to amenitize the asset and upgrade the property’s common area, enhancing the asset’s value and tenant demand. Patrick Devereaux, James Brady and Campbell …
Boulder Office Portfolio Refinanced for $69.5M
The WW Reynolds Companies, a development and professional property management and leasing firm, has received $69.5 million in refinancing for One Boulder Plaza, a three-building, Class A office portfolio totaling 234,000 square feet in downtown Boulder. Senior Director Leon McBroom and Senior Managing Director Eric Tupler with JLL worked on behalf of …
Landlords Can Create Inclusive and Profitable Tenancy Options
By Jason Shepherd, co-founder of Atlas Real Estate and REACTIV Commercial Real Estate (CRE) is on the cusp of profound change in vibrant markets like Denver. For too long, the norm has been to fill vacant space with yet another bank branch or chain restaurant rather than offering young creatives and entrepreneurs the …
Cherry Creek Plaza Fetches $54M
TerraCap Management LLC, a privately held investment firm out of Estero Florida, has acquired Cherry Creek Plaza in Glendale for $54 million. Cherry Creek Plaza is comprised of two thirteen-story office buildings totaling 335,000 square feet of Class A office with structured parking. The property features numerous amenities, including a newly renovated …
In-Demand Office Building Sells in Cherry Creek North
A 6,857-square-foot office building located at 180 Adams Street in Cherry Creek North has changed hands. With undeveloped sites few and far between in this submarket, existing office buildings with potential for redevelopment are in high demand. Monica Wiley and Jeff Wood with CBRE Capital Markets represented the seller, Pete Perry and …
Interest Rates Hit All-Time Low as Coronavirus Spreads
While the coronavirus will weigh on the U.S. economy in the first quarter, growth should be sustained. According to the Marcus & Millichap special report on the virus outbreak, expectations of weaker exports, reduced tourism and supply chain-related shortfalls will moderate the pace of economic growth. However, low unemployment and comparatively strong consumption levels should …
Office Property in Sought-After Bonnie Brae Neighborhood Sells for $1.5M
An office property located at 1280-1288 South Clayton Street in Denver’s Bonnie Brae neighborhood, has sold for $1.485 million. Monica Wiley and Jeff Wood with CBRE Capital Markets in Denver represented the seller, the Estate of Carol L. Bethune from Denver. Endo of Cherry Creek Properties, LLC, also from Denver, purchased the …
DMCAR Pays Tribute to “Heavy Hitters” in Commercial Real Estate
The Denver Metropolitan Commercial Association of REALTORS® (DMCAR) honored its top commercial real estate producers of 2019 in land, industrial, multi-family, office, investment, retail, and small office broker categories at the association’s annual Heavy Hitters Awards. In addition, DMCAR recognized its Young Broker of Denver, Top Landlord companies in the …