Avison Young Completes $2.45M Sale of Single-Tenant Retail Property
Avison Young announced the $2.45 million sale of a 20,000-square-foot single-tenant property occupied by BioLife Plasma Services located at 13900 East Mississippi Avenue in Aurora. Built in 1987 and situated on just under one-half acre, the property has approximately six years remaining on its absolute triple net lease.
Avison Young Principals Chris Maling and David Maling who are located in the firm’s downtown Los Angeles office and Sam Crowe with Northmarq in Denver, represented the seller, a California -based limited partnership. This transaction marks the Maling Team’s eighteenth transaction with the seller. The buyer was a Denver-based private investor.
“Our team generated multiple offers on this ‘medtail’ asset and achieved the highest price ever paid for a plasma tenant in the greater Aurora market,” said Chris Maling.
The property is located within a high traffic retail center in Aurora. BioLife Plasma Services is a top-tier tenant known for its industry-leading plasma collection services, which are vital for life-saving therapies.
Pinnacle Announces Sale of 9,782 SF Vacant Office Building
Pinnacle Real Estate Advisors, LLC, announced the sale of a 9,782-square-foot vacant office building for $825,000 located at 7651 W 41st Ave in Wheat Ridge.
David Barocas, senior advisor, and Andy Monette, vice president, with the SandbergMonette Team facilitated the transaction on behalf of the seller and buyer.
“We are proud to have facilitated this transaction for the sellers and the buyers. The buyer plans to renovate the building into a functional, modern office. We helped arrange attractive seller financing terms for both parties and closed the deal in under 30 days,” stated Barocas.
Lakewood Apartments Sell for $1,507,000
MMG, a leading real estate advisory firm specializing in multifamily and land transactions across the United States, has closed the sale of the Norwood Apartments at 85 Harlan in Lakewood, a 7,125-square-foot multifamily property for the sale price of $1,507,500 ($167,500/Unit). Sam Bretz of MMG represented the buyer in the transaction.
85 Harlan Street, a nine-unit that consists of eight 2Br/1Ba units and one 1Br/1Ba unit. The property offers tenant amenities, including an on-site laundry facility and 12 parking spaces.
Norwood Apartments is conveniently located near US-6 and with easy access to I-25 and I-70. Conveniently situated near the Belmar Shopping Center and only a short drive from Sloan’s Lake.
The buyers look forward to completing an interior value-add plan to remodel the remaining units. This was the buyer’s first purchase in the Denver MSA, and Sam Bretz and MMG were thrilled to help them enter a new market and look forward to many more transactions together.
Office Building with Value-Add Potential Just Sold
Kaufman Hagan announced the sale of 6073 W 44th Ave, Wheat Ridge, a 15,321 square foot, tenant-occupied office building facing the West 44th thoroughfare. The property sold at a price of $1,800,000, the transaction averaged $117.49 per square foot.
Kaufman Hagan Broker, Amanda Weaver and Alejandro Martinez represented the seller in this transaction.
“After many years of running her business out of 6073 W 44th Ave—a building that had been in her family since the 1980s—the seller made the heartfelt decision to close this chapter and step into a new one. It’s always an honor to help someone transition through a major milestone like this. The buyer will be moving his law practice into the building, carrying forward its legacy in a new direction and building something of his own. Excited to see what’s next for both of them!” – Amanda Weaver, broker, Kaufman Hagan Commercial Real Estate.
CBRE Arranges Sale of 8-Unit Apartment in Greeley
CBRE has arranged the $605,000 sale of an eight-unit apartment building in Greeley to a private buyer.
Charlie Mitelhaus of CBRE represented the private seller in the transaction.
Located at 1023 12th Ave., the property was built in 1902 in a Queen Anne Victorian style and has eight units, comprised of a mix of Studio, two and three-bedroom apartments. Five of the units are currently occupied. The apartment has hardwood floors throughout, a front porch that wraps around one side, and a one-car garage on site.
“This apartment building has an incredible value-add opportunity,” said CBRE’s Mitelhaus. “The new owners have the exciting task of renovating and updating the units to increase rental rates and potentially building out a coin-operated laundry room in a currently unused space to further increase NOI. This is a great investment for owners looking to roll up their sleeves to drive value in one of the lowest vacancy submarkets in the state.”
Central Denver Industrial Condo Sells in All-Cash Deal
Malman Real Estate announced the sale of 775 S. Jason Street, Denver, an industrial condo consisting of 5,907 square feet in an all-cash deal for $1,190,000.
Malman Real Estate’s Shane Robson represented the seller, 775 S Jason Street LLC. The buyer, The Learned Company, LLC, was represented by Jarod Pate of DePaul Real Estate Advisors.
Malman 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 with all asset types and classes.
