Transactions Report for Week 05.01.17
Unique Properties Inc./TCN Worldwide closed on three significant transactions:
8 Unit Multi-Family Asset Acquired for $1,320,000
Denver — Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of an 8-unit multifamily asset located at 807 East 5th Avenue in Denver, Colorado. The Property sold for $1,320,000 or $165,000 per unit and closed on April 14, 2017. 807 East 5th Avenue is a 5,274-square foot property constructed in 1954. The Property consists of eight (8) one-bedroom units averaging 660 square feet. The Property was in excellent condition at the time of the sale, however the rents were grossly under market averages. Centrally located in Denver, the Property is within minutes from Downtown, Cherry Creek Shopping District, and the Denver Country Club. The Buyer was attracted to the prime location and turn-key condition of a rare and unique apartment asset in one of the hottest submarkets in Denver with significant room to raise rents.
Panorama Place, a 31,332 SF Denver Office Building, Sells for $5,000,000
Centennial — Unique Properties, Inc./TCN Worldwide, Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, is proud to announce the sale of Panorama Place, a 31,332 square foot office investment located at 9137 East Mineral Circle in Centennial, Colorado. Located in one of the most stable submarkets in the Denver metro area, the property provided the Buyer with the rare opportunity to acquire a stabilized turn-key asset with low maintenance. The property sold for $5,000,000.“This was an example of a well-located office building and the constant pursuit of credit assets in our vibrant marketplace” stated Marc Lippitt, Owner and Principal of Unique Properties Inc./TCN Worldwide. Triumph Real Estate Investment Fund, a Canadian Investment Group based out of Calgary, Alberta, purchased the property under the name Triumph Panorama Place Acquisition LP.
Major Industrial Sale / Leaseback Transaction in Denver
Denver — Unique Properties, Inc. / TCN Worldwide, Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, is proud to announce the sale / leaseback of 1700 East 68th Avenue in Denver, Colorado. The headquarters and main distribution facility for New Age Beverages Corp., a leading distributor of healthy beverages including Xing Tea and Aspen Pure water, the Property, includes an 82,400-square foot building situated on over six acres, with excellent highway access and proximity to downtown Denver. The Property sold for $8,900,000, and will be leased long-term by New Age Beverages. The buyer was a group of local investors, and both buyer and seller were represented by Tom Myers, Brandon Paxton, and Jake Cook of Unique Properties, Inc. / TCN Worldwide.
Pinnacle Announces Sale of Retail Strip in Colorado Springs:
Denver — Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1810-1840 Dominion Way located in Colorado Springs, Colorado. This retail property was built in 1985, with renovations taking place in 2015. The building is located in North Colorado Springs on the Academy Boulevard corridor. The property sold on May 1st, 2017 for $3,650,000 or $143.85 per square foot. Matt Ritter and Jeff Johnson, with the Johnson Ritter Team, represented the Buyer in the transaction.
“With the sale of 1810-1840 Dominion Way, our clients were able to finish the up-leg of their 1031 Exchange, positioning them for a significant expansion of their portfolio,” stated Matt Ritter, Co-Founder and Principal at Pinnacle Real Estate Advisors.
CBRE Announces Sale of 235-unit Property in Denver for $38,800,000:
Denver — CBRE is pleased to announce the sale of Torrey Pines apartment complex, located at 7575 E. Arkansas Ave, Denver,CO 80231. The multi-family property sold for $38,800.000.
The Denver office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces the following transactions:
- Lease at Highland Industrial Park, 4555 Highland Meadows Parkway, in Windsor, CO. Numotion leased 7,450 SF. Brian Cox, a Senior Associate at Lee & Associates Denver represented the tenant. Mike Eyer of CBRE represented the Landlord.
- Lease at Southwest Commons, 8601 West Cross Drive in Denver, CO. Amplify Chiropractic leased 2,140 SF. Jeff Hallberg, a Principal at Lee & Associates Denver and Brian Cox, a Senior Associate at Lee & Associates Denver represented the tenant. Rich Otterstetter of Crosbie Real Estate Group represented the Landlord.
- Lease at Airport Industrial Center, 4195 Oneida Street in Denver, CO. Merchants Office Furniture leased 7,700 SF. Ron Webert, a Principal at Lee & Associates Denver represented the Tenant. Joe Krahn of Cushman & Wakefield represented the Landlord.
- Lease at 4730 Paris Street in Denver, CO. BDI-USA, Inc. leased 10,232 SF. JR Bitzer, a Principal at Lee & Associates Denver, Nic Carter, an Associate at Lee & Associates Denver, and Maximilian Gompertz an Associate at Lee & Associates Denver represented the Tenant. Dawn McCombs and Thomas Bannigan of Avison Young represented the Landlord.
- Lease at 5874 Langley Avenue in Loveland, CO. H&E Equipment Services leased 15,295 SF. H&E, founded in 1961, is one of the largest integrated equipment companies in the nation that provides the higher standard in equipment sales, rentals, parts, and service. They have multiple locations throughout the front range and are looking to grow their northern Colorado business with this Loveland location. RonWebert, a Principal at Lee & Associates Denver, along with Maximilian Gompertz and Nic Carter, also with Lee Denver represented the Tenant. Gage Osthoff of Realtec Commercial represented the Landlord.
- Lease at TurnPike Business Park, 7100 North Broadway in Denver, CO. Exceed Electrical Contractors leased 3,560 SF. Maximilian Gompertz an Associate at Lee & Associates Denver represented the Tenant. Chris Nordling of Newmark Grubb Knight Frank represented the Landlord.
- Lease at the Promenade Shopping Center in Highlands Ranch, CO. Bright Light Chiropractic leased 1,235 SF. Jeff Hallberg, a Principal at Lee & Associates Denver represented the tenant. Matthew Soussa of The Dana Group represented the Landlord.