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Mile High Transactions Report

Marcus & Millichap Facilitates the Sale of a 10,451-Square-Foot Industrial Building

7499 East 41st Avenue

Marcus & Millichap announced the sale of a 10,451-square-foot industrial property leased to Traffic Management Inc. located in Denver. The asset sold for $2,450,000

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.

“Due to the amount of yard space and the location, we received multiple offers and were able to go under contract within the first week of marketing,” the team commented. 

This asset is excellently located at 7499 East 41st Avenue in Denver. This single-tenant asset features a clear height of 18’, metal construction, two grade-level doors, one truck well, and 25 parking spaces. With a building coverage ratio of 8 percent, the property has ample industrial outdoor storage space. Zoned for industrial mixed-use (I-MX-5), the property can also accommodate future development. Located just off Interstate 70, the property is about a 15-minute drive from downtown Denver and a 20-minute drive to Denver International Airport.

CBRE Arranges $3.5 Million Sale of 24-Unit Garden Apartment Community in Colorado Springs

Cottonwood Creek

CBRE has arranged the $3.5 million sale of Cottonwood Creek Apartments, a 24-unit apartment community in Northeast Colorado Springs, to Cottonwood Creek Apartment Partnership, LLC.

Willy Holliday and Kevin McKenna of CBRE represented the seller, Cottonwood Creek Apartments, LLC, and Kellen Dick of CBRE Debt & Structured Finance secured the financing in the transaction.

“We are thrilled to announce the sale and financing of Cottonwood Creek, located in the highly sought-after Northern Colorado Springs submarket,” said CBRE’s Holliday. “It was a pleasure representing the seller, who has owned and meticulously maintained the property for over 30 years. The new buyer is poised to capitalize on the significant operational upside that this asset offers. We commend all parties involved for their dedication and professionalism in navigating a challenging transaction environment.”

Located at 1419-1431 Imperial Road., the 17,952-square-foot garden apartment community is divided into four three-story buildings. Built in two phases, 12 units in 1978 and 12 units in 1983, most of the units (92%) are two bedrooms and the remaining are one-bedroom. All units include an electric range and GE appliances, with select units having washer and dryer hookups, private balconies or patios and wood-burning fireplaces.

“In a tough lending environment, the Freddie SBL program continues to provide the necessary capital for workforce housing,” said CBRE’s Dick. “We were able to arrange competitive debt that will allow the buyer to acquire the asset and implement their value-add plan.”

Trevey Commercial Real Estate Announces Sale of Pueblo Retail Building

609 S. Pueblo Blvd.

Trevey Commercial Real Estate announced the sale of a 9,100-square-foot freestanding retail building located at 609 S. Pueblo Blvd., Pueblo for $1,250,000 on June 12, 2024.

The buyer, Mr Blue Sky, LLC was represented by David Marulli and Mitch Trevey of Trevey Commercial Real Estate. The seller, 609 Property, LLC was represented by Ben Farthing and Logan Grant of CBRE.

A special thanks to our partners at Fidelity National Title for their help expediting and executing this significant investment transaction in Pueblo County.

Trevey Commercial provides brokerage representation, commercial real estate sales and leasing, land development consulting and property management services for clients in the Southeast Metro Region and across the greater Front Range.

NorthPeak Commercial Advisors Brokers 6-Unit Multifamily Property in Denver

1247 N Clarkson St., Denver.

NorthPeak Commercial Advisors announced the sale of 1247 Clarkson St., Denver, for $1,050,000.

Austin Bengford, Greg Johnson and Conner Piretti of NorthPeak Commercial Advisors worked with the seller in this transaction.

“The Johnson-Piretti Team is pleased to announce the sale of Finley Court, a 6-unit building located in the heart of Denver’s Capitol Hill neighborhood,” stated Bengford. “This was our 17th successful transaction for the seller.

The 3,025-square-foot building had been meticulously cared for and managed by Brownstone Realty.  Its prime condition will allow the new owner to enjoy positive cash flow immediately.

The buyer was represented by an out-of-state broker who found the opportunity through NorthPeak’s broad marketing efforts.

Colorado Springs Apartment Community Sells for $3.5M

1419-1431 Imperial Rd

Pinnacle Real Estate Advisors, LLC announced the sale of Cottonwood Creek Apartments, a 24-unit multifamily property for $3.5 million located at 1419-1431 Imperial Rd, Colorado Springs.

Michael Krebsbach, vice president, and Kenny Clarke, associate advisor, worked with the buyer in the transaction.

“This is an inviting property in a great location within the market. The seller has taken meticulous care over the years in preserving the charm and we’re pleased to have helped our buyer purchase it at an attractive basis. We’re very proud to see this one get closed for a variety of reasons. Substantial upside exists that should produce abundant cash flow here for years, and this transaction is a testament to persistence, as we submitted multiple offers from this same buyer dating back to July 2023 before finally coming to terms on an agreeable deal in March of this year. Congratulations to all parties,” said Krebsbach and Clarke.

Large Industrial Building Off I-70 & Colorado Blvd Has New Owner

3800 E 48th Ave

Malman Commercial Real Estate and Unique Properties announced the sale of 3800-3900 East 48th Avenue in Denver, consisting of 57,823 square feet for $5.8 million.

Malman Commercial Real Estate’s Taylor Roy represented the buyer, 3800 Aspen LLC, a Colorado limited liability company. The seller, SHTSHW LLC, a Colorado limited liability company, was represented by Greg Knott and Earl Duffy of Unique Properties.

The property located at 3800-3900 E 48th Avenue in Denver, a 57,823-square-foot industrial warehouse on 2.7 acres, has been successfully sold for $5,825,000, or $100/SF. This notable transaction was expertly managed by Greg Knott, who has a long-standing history with the property, dating back to 2007, and Earl Duffy.

Greg Knott played a pivotal role in the acquisition of this property by the sellers back in 2007 and has now successfully navigated the recent sale. His extensive involvement and dedication, along with the invaluable assistance of Earl Duffy, ensured a smooth and successful closing.

“We went through a few potential buyers, and this specific one saw the inherent value that this property possesses – large lot, fenced yard, outside storage, ease of access to the Denver metro area, heavy power, and ample loading. All of these factors create a property that will thrive under an active ownership group,” said Greg Knott, reflecting on the challenges and triumphs in getting this deal across the finish line. “The hard work and commitment from our team were essential in
overcoming the hurdles, including the new Energize Denver regulations.”

Malman Commercial Real Estate is a commercial real estate brokerage providing premier brokerage services to buyers, sellers, landlords, and tenants. The firm is located in Denver and has experience in all asset types and classes.

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