14-Story High-Rise in West Denver sells for $34M
Columbine Towers, located at 1750 S Federal Blvd, which consists of 170 homes over 14 floors and serves the senior living community as well as those with disabilities, has sold for $34 million, averaging $200,000 per unit and $340 per square foot.
Kaufman Hagan Commercial Real Estate Principal, Brandon Kaufman, played a pivotal role in bringing both the buyer and seller together, facilitating the successful conclusion of this transaction.
“This was a fascinating experience witnessing all the moving pieces come together and culminate in a successful transfer of ownership. We were under contract for nearly a year, with both parties investing a tremendous amount of effort to see its completion through. The buyer and seller cooperated very well with each other’s needs, navigating through numerous challenges with mutual understanding.
The buyer is investing over $9 million for its RAD 2 conversion to rehab this property by significantly updating it cosmetically, making it more accessible, and energy efficient. The buyer secured funding from various sources, including the City and County of Denver, Department of Housing Stability, Colorado Department of Local Affairs, Impact Development Fund, and Freddie Mac.”
NorthPeak Commercial Advisors Brokers 8-Unit Multifamily Property in Denver for $1,975,000
NorthPeak Commercial Advisors is pleased to announce the sale of 1203 & 1211 E 23rd Ave., Denver, 80205.
Greg Johnson and Conner Piretti of NorthPeak Commercial Advisors worked with the seller while Queen City Properties worked with the buyer in this transaction.
“The Johnson-Piretti team is thrilled to announce the sale of an 8-unit property in Denver’s City Park West neighborhood,” stated Johnson. “The vintage 1907 property was in turnkey condition following a major renovation several years ago. This was the Johnson-Piretti Team’s 4th successful transaction for these clients.”
Pinnacle Announces Sale of Shopping Center in Aurora
Justin Krieger, principal at Pinnacle Real Estate Advisors, LLC, announced the sale of Plaza West at Aurora Town Center, an approximately 94,949-square- foot retail shopping center on an approximately 7.8-acre site located at 13670 East Alameda Avenue in Aurora.
The property consists of a shopping center anchored by Dollar Tree and Harbor Freight Tools built in 1984-1985 and a freestanding drive-thru building occupied by Starbucks built in 2021. The property sold for $8 million in an off-market transaction on February 23, 2024. The property was approximately 65% occupied at the time of sale. The Colorado and California-based sellers were long-term holders, and the buyer is a Colorado-based investment group. Justin Krieger handled the sale.
AXIO Announces Recent Lease Transactions
AXIO Commercial Real Estate announced the following deals:
Everest Way, LLC has signed a lease for 1,647 SF at the Shops at Riverbend at 5350 S. Santa Fe in Littleton. John Livaditis of Axio Commercial represented the landlord.
Wapos Cantina has leased 3,642 SF at Olde Town Plaza at 5777 Olde Wadsworth Blvd. in Arvada. Brian Frank of Axio Commercial represented the tenant.
Sweetwater Partners, LLC has leased a 3,552 SF office at 2043 York Street in Denver. John Livaditis of Axio Commercial represented the landlord.
CJK, LLC dba Pvolve has leased 3,295 SF at the Shops at Riverfront Park at 1610 Little Raven Street in Denver. John Livaditis of Axio Commercial represented the landlord and Abby Vollmer of Colliers International represented the tenant.
Unique Properties Announces Recent Closings
11149 Bradford Rd an Office Flex property Leases for $5.1 million in Littleton
Unique Properties, Inc./TCN Worldwide, Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, announced the lease of 11149 Bradford Rd. The Landlord was represented by Sam Leger, CEO, and Graham Trotter, senior broker associate with Unique Properties, Inc. / TCN Worldwide. The property was leased for $5.1 million for eight years.
The Denver Infill Team, of Unique Properties, Inc., is delighted to announce the successful leasing of 11149 Bradford Rd, an Office Flex property nestled in Littleton, Colorado. This exceptional property has been leased for an impressive $5.1 million, marking a new eight-year agreement with ExoTerra, a trailblazing company specializing in developing and optimizing solar electric propulsion systems. This significant transaction serves as a testament to the robust demand for flexible office spaces in strategic locations, emphasizing the growing appeal of Littleton as a business destination.
4,880 SF Office Building Sells for $1.9M in Denver
Unique Properties, Inc. / TCN Worldwide also announced the sale of 1025 N Zuni Street, Denver, 80204. The buyer, 1025 ZUNI STREET, LLC was represented by Michael DeSantis and Brett MacDougall, and Hudson Cramer with Unique Properties, Inc./TCN Worldwide. The property sold for $1,900,000 or $389.34/SF.
The property is a 4,880-square-foot flex building situated on a 7,700-square-foot lot at 8th & I-25, with some of the best visibility possible via I-25. The property consists of a mix of warehouse, office, and showroom space with top-of-the-line finishes. The building is perfect for a user needing a central location and high-end retail space with frontage on I-25.
Upon hearing the news that the previous Tenant, Trout’s Fly Fishing, was vacating the building the brokers saw an opportunity to transact an off-market deal with one of their owner-user clients. Upon contacting the Seller directly and bringing the eventual Buyer through for a tour, the property was under contract within 5 days. The MacDougall/DeSantis Group was able to successfully close this off-market deal in less than 60 days.
The property was sold to 5280 Floors, a local flooring contractor who was previously leasing space nearby. The new owner plans to use the building for their showroom and offices.
“We are very excited for our client, 5280 Floors, in this purchase that will ultimately allow the Buyer to grow their business and serve the community as they have been since their inception in 2011. This property offers a tremendous amount of visibility from I-25, and we just don’t see opportunities like this very often – it’s a great piece of real estate” stated Hudson Cramer with the MacDougall/DeSantis Group.
Marcus & Millichap Announces the Sale of a Net Lease Dutch Bros in Thornton and the Sale of a 7,053 SF Office Building in Lakewood
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, recently announced the sale of Dutch Bros, a 950-square-foot property at 16743 Washington Street 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.
3405 Yarrow Street
Marcus & Millichap also announced the sale of 3405 Yarrow Street, a 7,053-square-foot, Class B office property located in Lakewood. The asset sold for $2,100,000.
Erik Enstad, Chadd Nelson, and Brandon Kramer, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was procured by Chris Lind, Mark Ruble, Zack House, and Sean Lenchner, investment specialists in Marcus & Millichap’s Phoenix office, with the help of Adam Lewis, Colorado broker of record.
“It was great to get this deal done for both the sellers and buyer,” commented Enstad. “We worked the Marcus & Millichap platform with our Phoenix office to procure a strong buyer, which ensured a smooth close from start to finish”.
Built in 2003, 3405 South Yarrow Street was recently remodeled with top-end finishes. This single-story, 100 percent occupied medical office building consists of Stanbrick Dental in suite A/B and the owner’s Endodontic practice, Dental Care Alliance, occupying suites C/D. The tenants are both on newly executed NNN leases with annual rent bumps.
