Transactions Report Week of 09.25.17
Rams Park Apartments in Fort Collins Acquired for $12.2 M
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 a 48-unit multifamily asset located at 2226 West Elizabeth Street in Fort Collins, Colorado. The Property sold for $12,200,000 or $254,166 per unit.
Rams Park Apartments consists of two identical, 3-story buildings and was recently constructed in 2002. Individual units feature balconies or patios, fireplaces, washer/dryer, and individual gas/electric services. The Property consists of one (1) one-bedroom unit, twenty-four (24) two-bedroom units and twenty-three (23) three-bedroom units.
Rams Park Apartments is conveniently located one and a half miles west of Colorado State University main campus. The excellent location provides residents easy access to nearly every part of Fort Collins and a wide range of outdoor activities. The buyer was attracted to the growing Fort Collins population, low vacancy rates and prime location.
Marcus & Millichap Arranges the Sale of South Federal Building Center for $3M
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of South Federal Business Center, a 35,403-square foot, multi-tenant industrial flex property located in Englewood, Colorado, according to Bob Kaplan, regional manager of the firm’s Denver office. The asset sold for $3,000,000.
David Bader, an investment specialist in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a private investor, was procured by Bader.
South Federal Business Center is located at 4301 S Federal Blvd in Englewood, nine miles south-southwest of the Colorado state capital in downtown Denver. Built in 1984, the property has many attractive features and drew significant investor interest.
Pinnacle Announces the Sale of 100-unit Multi-family Property in Denver
Pinnacle Real Estate Advisors, LLC announced the sale of 3430-3441 South Akron Street located in Denver. The 100-unit property, built in 1970, sold for a contract price of $15,000,000; $150,000 per unit and $135.73 per square foot.
The property, situated on a five acre site with East Hampden frontage, features large one and two bedroom apartments as well as two and three bedroom townhomes, and offers onsite management, pool, clubhouse and gym.
JB Hochman and Justin Brockman, Principals with the Hochman│Brockman Team, represented the seller in the transaction and Robert Lawson, Senior Advisor with the Knowlton│Lawson Team, represented the buyer in the transaction.
Unique Properties Announces Dunkin Donuts Sells for $1,356,000 in Denver
Unique Properties, Inc. / TCN Worldwide, Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, announced the investment sale of Dunkin Donuts located at 2766 South Broadway in Englewood.
Ira Lang purchased the property from Red Mountain Breakfast Company, LLC for $1,356,000. The 1,696 Square Foot building was constructed in 2016, and benefits from great visibility on Broadway and by having a drive thru alongside morning traffic heading into Downtown Denver. Dunkin Donuts has approximately 14 years remaining on their lease term, with options to extend.
Sam Leger, Tim Finholm, both Executive Vice Presidents, and Carlos Valencia, Broker Associate, at
Unique Properties, Inc. / TCN Worldwide, represented both sides of the transaction.