Mile High Transactions Report

Marcus & Millichap Announces the Sale of a Net Lease Dutch Bros in Thornton, Colorado

16743 Washington Street, Thornton.

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Dutch Bros, a 950-square-foot property located in Thornton. The asset sold for $2,254,900.

The buyer, a partnership, was secured and represented by Drew Isaac, James K. Rassenfoss, and Ian Hicks, investment specialists in Marcus & Millichap’s Denver office.

Dutch Bros is located at 16743 Washington Street in Thornton.

Multifamily Investment Portfolio Sells for $9M in Aurora

1377-1397 Laredo Street and 16415 E 14th Place, Aurora.

Unique Properties, Inc. / TCN Worldwide announced the sale of 1377-1397 Laredo Street and 16415 E 14th Place in Aurora.

Marc Lippitt, Phil Dankner, Justin Herman, Will McCauley and Elliott Polanchyck were the only brokers involved in the transaction. The property sold for $9,009,000 cash to the seller, which included a new loan on the subject property. The price per square foot was $163.37. The price per unit was $115,500.00.

The buyer, who has purchased multiple deals from Unique Properties, Runt and Bro Laredo, LLC intends to update and renovate the property in order to add value. The seller JTA Real Properties LLC intends to do a 1031 exchange to Florida. The financing was through Fannie Mae and despite the challenge of rising interest rates Craig Branton of Greystone was instrumental in helping facilitate the closing timely.

With the rising price of insurance in Colorado, and the systemic exodus of insurance carriers out of our state, finding acceptable insurance became difficult, Dustin Nichols of Lakeside Insurance was able to get the job done.“I am excited to add the properties at Laredo & 14th Place to our portfolio of multifamily properties. RuntBro continues to focus on providing clean, well-maintained, and affordable housing in the North Aurora submarket. The insurance and lending markets were a challenge in this transaction. A huge thank you to Phil Dankner and his team at Unique for getting this over the finish line. His team always goes above and beyond, and this transaction was no different!” says RuntBro.

The portfolio consisted of three buildings. The building unit mix was 69-450 SF 1 bed 1 bath and 9-400 SF Studio’s 1 bath units.

2561 Jellison Street

Pinnacle Announces Sale of 8-Unit Apartment Property in Lakewood

Josh Newell, owner/principal, Connor Knutson, vice president, and Jake Waxter, an associate advisor with the Newell Team at Pinnacle Real Estate Advisors, LLC announced the sale of 2561 Jellison Street in Lakewood. The 8-unit apartment property was built in 1959 and sold on February 26 with a contract price of $1,575,000; $196,875 per unit and $240.38 per square foot. Josh Newell, Connor Knutson, and Jake Waxter represented the seller and buyer.

CBRE Facilitates $12.95 Million Sale of Multi-Tenant Retail Shopping 

CBRE recently announced the sale of The Shops at Mesa Ridge, a 29,309-square-foot multi-tenant retail property in Fountain, Colo., to a private investor for $12.95 million.

Mark ShafferGary StacheGerard Poutier and Chris Martin with CBRE Capital Markets Investment Properties represented the buyer in the transaction.

“The Shops at Mesa Ridge is a dominant regional shopping center in the fountain trade area,” said Mr. Shaffer, senior vice president at CBRE. “The property’s high historical occupancy and the line-up of diverse, e-commerce resistant tenants anchored by a top-performing grocery store makes this a strong investment for the buyer.”

Built in 2001, the property at 6859-6885 and 6965 Mesa Ridge Parkway within the Safeway-anchored Markets at Mesa Ridge shopping center. The shopping center is comprised of two multi-tenant buildings that were 95.96% occupied at the time of sale by 16 local, regional, and national retailers, including Pizza Hut, ENT Credit Union and Buffalo Wild Wings.

“This transaction is another example of how our team’s 1031 Exchange buyer advisory services offered a customized acquisition experience for our client,” added Mr. Stache, vice chairman at CBRE. “By leaning into our opportunities across the country, our client successfully identified this premier retail property in Colorado within a tight timeframe.”

The property is situated just East of Interstate 25 on the southeast corner of the Mesa Ridge and Fountain Mesa Road intersection. It’s less than three miles from Fort Carson and 12 miles north of Peterson Air Force Base.

Henry Group Real Estate Announces the Sale of the Flex/Retail Property Located at 1525 N Williams Street in Denver

525 N Williams Street, Denver

Henry Group Real Estate announced the successful sale of 1525 N Williams Street, strategically situated in the City Park West neighborhood, adjacent to downtown Denver. The property, previously owned by Air Safety Inc., was acquired by Super Group, Inc. for a total of $850,000.

This 2,751-square-foot building occupies a 6,250-square-foot lot and falls under the C-MS-5 zoning, allowing for a diverse range of uses. Located in an area robust with retail outlets, restaurants, and service amenities, this transaction closed on February 8, 2024. It marks yet another successful achievement for Henry Group Real Estate, a prominent commercial real estate brokerage firm in Denver.

The Seller was represented by Hudson Cramer and Brett MacDougall of Unique Properties, while Amanda Tompkins of Henry Group Real Estate diligently ensured a seamless transaction for all parties involved.

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