Marcus & Millichap Capital Corporation Arranges $4.75M Financing for Colorado Springs Medical Office
Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $4.75 million for the refinancing of a medical office building located at 2860 South Circle Drive in Colorado Springs, Colorado.
Garrett Fierstein, senior director in MMCC’s Orlando office secured the financing with a local credit union on behalf of a private client.
“Even with the current lending market being unfavorable towards office assets, we successfully closed a cash-out refinance, demonstrating that strategic solutions can make complex transactions achievable,” said Fierstein.
Terms of the 10-year loan include a 6.75% fixed interest rate with 25-years amortization and a loan-to-value of 65%.
The property is located near US-87 less than four miles from downtown Colorado Springs. Office tenants include a mental health clinic, a counseling clinic, an esthetics clinic, an acupuncture clinic and a treatment center.
Henry Group Secures Tenant for Landmark Uptown Denver Property
Henry Group Real Estate has secured a lease with Magic Artisan Noodle, a new restaurant concept from Noodle Den LLC, in a prominent 2,781-square-foot free-standing building at 1400 East 17th Avenue in Denver’s vibrant Uptown neighborhood.
The transaction was skillfully brokered by Patrick Henry and Boston Weir of Henry Group Real Estate, representing the property owner, 17th Avenue Investors LLC.
Noodle Den LLC, known for its successful locations in Westminster (Hana Matsuri Sushi) and Colorado Springs (Kung Fu Tea and Tkk Fried Chicken), will launch the Magic Artisan Noodle concept at this new Denver address. Magic Artisan Noodle aims to reinterpret traditional Chinese handmade noodles in a contemporary fashion. The restaurant provides a noodle-making show, like a sushi bar, to showcase the quality and freshness of its ingredients.
“This location offers an exceptional opportunity for Noodle Den to expand their presence in the Denver market,” said Patrick Henry. “The Uptown neighborhood continues to attract innovative dining concepts, and we’re excited to help bring this new establishment to the area.”.
Henry Group extends its appreciation to Brian Chimileski with Madison Commercial Properties, who represented the tenant, for his valuable role in facilitating the transaction.
NorthPeak Commercial Advisors Brokers 17-Unit Multifamily Property in Denver for $5,009,000
NorthPeak Commercial Advisors announced the sale of 1341 N Cook St., Denver, 80206, for $5,009,000.
Conner Piretti and Greg Johnson of NorthPeak Commercial Advisors worked with the seller while Kevin Calame and Matt Lewallen worked with the buyer in this transaction. This property marks The Johnson-Piretti Team’s 14th transaction with this seller.
“The seller put significant time and money into renovating this property to a level that stands out in the neighborhood and we were happy to deliver a price that reflected his hard work,” stated Piretti. “It’s always a pleasure working with this seller and we love seeing buildings come full circle like this. They’ve created high-end housing at a still affordable level for the area and the buyer will benefit from a turn-key property with predictable cashflow moving forward.”
Lee & Associates – Denver Completes a ±12,303 SF Industrial Owner/User Sale
Lee & Associates, the largest broker-owned commercial real estate firm in North America, recently completed a ±12,303 SF sale at 4625 Town Center Drive in Colorado Springs for $3.125 million ($254/SF). This industrial warehouse property is PIP-2 zoned and located on ±3.04 Acres. The property is 16’ clear, with 4 drive-ins (9’ x 12’). The sale closed December 2, 2024.
Matt Nora and Jeff Hallberg of Lee & Associates – Denver represented the seller, SLEKA, LLC. The property was purchased by 5150 Holdings, LLC.
“The seller was looking to take advantage of the increased property values in the area and liquidate this particular asset,” said Nora.
Pinnacle Announces Sale of 16,000 SF Industrial Property
Pinnacle Real Estate Advisors, LLC announced the successful sale of a 16,000-square-foot industrial property located at 3950-3960 S Mariposa St, Englewood, Colorado. The transaction, valued at $2,200,000, was facilitated by Peter Sengelmann, vice president at Pinnacle Real Estate Advisors, who represented the seller in this deal. The small bay industrial property consisted of eight units, all units are 2,000 square feet.
“The seller approached me earlier this year with the goal of divesting this asset and transitioning into a more management-efficient property as part of a 1031 exchange for estate planning purposes. This property had been a long-standing part of the seller’s family portfolio since the 1960s. After listing, we strategically presented the opportunity to a select group of qualified buyers familiar with 1031 exchange requirements. The response was strong, resulting in five competitive offers,” said Sengelmann.
