Pinnacle Announces Sale of Multiple Restaurant Locations in Denver
Elizabeth Morgan, vice president, Cody Stambaugh, senior advisor, and Kyle Moyer, associate advisor, with The Morgan Stambaugh Group represented the buyer in the transaction. David Schneider of AXIO represented the seller.
Pinnacle Real Estate Advisors, LLC recently announced the purchase and lease assignment of multiple restaurant locations by Imperial Restaurant Group from SushiRama. The sale includes four Colorado locations including Arista in Broomfield, Belleview Station in DTC, The Forum in Fitzsimmons in Aurora and Lincoln Commons in Lone Tree. SushiRama in RiNo was not part of the sale.
“Imperial Restaurant will debut in these locations its fast-casual spinoff of the iconic Imperial Restaurant on South Broadway in Denver. These Imperial To Go locations will feature the most popular items found at The Imperial, offering high-quality ingredients and dishes in a more casual setting with a focus on pickup and delivery. After opening these locations, they plan to expand the concept throughout the market,” stated Elizabeth Morgan, senior advisor with The Morgan Stambaugh Group.
CBRE Secures Financing for Del Arte Townhomes in Aurora
CBRE has arranged a $15.44 million loan for Stratford Partners to purchase the 94-unit Del Arte Townhomes in Aurora.
Scott Peterson, Bill Chiles, Brian Cruz and Colby Matzke with CBRE Capital Markets’ Debt and Structured Finance team secured a five-year, interest-only Agency loan. CBRE’s Shane Ozment, Terrance Hunt, Andy Hellman and Justin Hunt in Denver facilitated the sale of the community.
“Given the scarcity of similar products in the surrounding area, Del Arte Townhomes is well positioned to be a strong investment for years to come,” said Mr. Peterson, vice chairman at CBRE.
The community is located at 11135 East Alameda Avenue in southwest Aurora. Del Arte Townhomes’s convenient location, connected to the greater Denver metro area, provides residents access to top employers and an abundance of amenities.
Built in 2001, the property has eight two-story buildings across 6.57 acres. The 94 townhomes average 1,096 sq. ft. and are either one- or two-bedroom floorplans. Each unit features washers and dryers and attached garages.
Stratford Partners is a private real estate investment company exclusively focused on the acquisition of multi-housing assets in the major metros of the West Coast. Stratford operates over 1,000 units across nine buildings in multiple submarkets throughout Colorado. The acquisition of Del Arte Townhomes will expand Stratford’s footprint across the state.
NorthPeak Commercial Advisors Brokers 15-Unit Multifamily Property in Denver for $3,575,000
NorthPeak Commercial Advisors announced the sale of 1301 E 33rd Ave., Denver.
Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the seller while Robert Lawson of Pinnacle worked with the buyer in this transaction.
“The seller has owned this property since 2009 and sought to reallocate his equity into a more passive investment,” stated Calame. “We listed the property and successfully secured an excellent sales price for him and will assist in transferring those funds into a property that offers a higher return with less active management.”
Digby Commercial Advisors Announces Sale of 6232 Beach Street, Denver
Digby Commercial Advisors, a Denver-based full-service commercial real estate brokerage firm, specializing in acquisitions, dispositions, leasing, tenant representation, and land development, announced the sale of 6232 Beach Street, Denver to Greenwich Street Capital on July 29, 2024. The property is comprised of four buildings, totaling 53,420 square feet. A sale price was not disclosed.
The property was attractive to many investors as it has sustained over 90% occupancy rates for several years. Additionally, the property had below-market rents, which provided the investor the opportunity to raise rents.
Tanner Digby of Digby Commercial Advisors was the only broker involved in the transaction.
Marcus & Millichap Announces the Sale of 2 Industrial Properties
16,122 SF Industrial Property in Denver
Marcus & Millichap recently announced the sale of 4825 Oakland Street, a 16,122-square-foot industrial property in Denver. The asset sold for $1 million.
Alyssa Tomback, senior associate in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor.
4825 Oakland Street is located just off the Peoria Street exit from Interstate 70, the property is only a 20-minute drive from both downtown Denver and the Denver International Airport. This was an excellent value-add opportunity for the buyers, as the subject property is positioned within Central East Interstate 70/Montbello, a mid-sized submarket in a desirable location containing 18.2 million square feet of industrial space.
19,001 SF Industrial Property in Boulder
Marcus & Millichap, also announced today the sale of 3180 Sterling Circle, an industrial property anchored by Dahl Plumbing (a subsidiary of Hajoca Corporation) located in Boulder. The asset sold for $3,500,000.
Alyssa Tomback and Thimy Moraitis, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor.
3180 Sterling Circle consists of approximately 19,001 square feet of flex showroom space and is situated on 1.29 acres of land. Delivered in 1997, the multi-tenant asset features three units, a clear height of 24’, one dock-high door, two grade-level doors, and 56 parking spaces. Located only two miles from U.S. Route 36, the asset sits only one mile from the Boulder Municipal Airport.
