Transactions Report Week of 10.16.17
HFF Announces Sale of Newly Built Class A Apartments in Suburban Denver
Holliday Fenoglio Fowler, L.P. (HFF) recently announced the sale of Parkhouse, a newly built, 465-unit, Class A luxury apartment community in the north Denver suburb of Thornton, Colo.
The HFF team marketed the asset exclusively on behalf of the seller, and procured the buyer, Starlight Investments, a Toronto, Canada-based real estate investment and asset manager.
Parkhouse is located on 24.2 acres at 14310 Grant Street in Thornton. Positioned just east of 144th Avenue and Interstate 25, the property is surrounded by north Denver’s premier retail and employment corridors, which will soon also be home to an approximately 320,000-square-foot upscale outlet mall and an 857,000-square-foot Amazon distribution center. Completed earlier this year, the three-story, garden-style property comprises units averaging 914 square feet with luxury features, including designer kitchens with islands, granite countertops, stainless steel appliances, nine- to fifteen-foot ceilings, hardwood-style flooring, full-size washers and dryers, spacious closets and private patios or balconies. The amenity-rich property also features two resort-style pools with spas and cabanas, outdoor kitchen with grills, community garden, playground, two clubhouses and resident lounges, game room, fully equipped business center, two fitness centers with cardio and yoga rooms, dog park, dog wash, electric vehicle charging stations and a mile-long paved walking trail.
The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.
Pinnacle Announces Sale of High Tech Academy Charter School Property
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 11200 East 45th Avenue in Denver, Colo. The 113,705 square foot building was leased to Denver Public Schools and occupied by High Tech High School with a recent addition of DSST charter school tenancy. The property sold on October 17 for $11,100,000 or $97.62 per square foot. John Emmerling, senior advisor, represented the seller in the transaction.
“The charter school was previously the headquarters for the Samsonite Corporation. It was converted to an educational campus in 2005 and has adequate land for future expansion on the 13.02-acre site,” said Emmerling.
For more information, please contact John Emmerling.
Marcus & Millichap Arranges Sale of 15,171-Square Foot Retail Property for $7M
Marcus & Millichap announced the sale of Claremont Marketplace, a 15,171-square foot retail property located in Colorado Springs, Colo., according to Bob Kaplan, regional manager of the firm’s Denver office. The asset sold for $7,000,000.
Ryan Bowlby and Garrette Matlock, investment specialists in Marcus & Millichap’s Denver office, sold the property on an off-market basis. The buyer, a private investor out of California, was completing a 1031 exchange.
“The property is well positioned in a rapidly-growing submarket with very limited retail competition,” said Bowlby.“The recent re-zoning of a portion of the Banning Lewis Ranch to allow 1,000 new homes to be built is only the beginning of the exciting growth that will occur in this submarket over the next ten years.”
Tenants included in the sale were Pacific Dental Services, Dickey’s BBQ, Subway, Lux Nails, Great Clips and Patriots Liquor. The property was 86 percent occupied at the time of sale, with the seller providing a rent guaranty on the remaining vacancy.
NavPoint Real Estate Group Sells 4,680 SF Office Building in Centennial for $860,000
NavPoint Real Estate Group sold a 4,680 square foot office building at 7076 S Alton Way Unit A in Centennial. The seller was LC Quad, LLC. The buyer was SPL Capital LLC. Matt Kulbe and Jason Mayer of NavPoint Real Estate Group represented the seller. Kyle Malnati and Greg Johnson of Calibrate Real Estate LLC represented the buyer.
The property is conveniently located off S Yosemite St and S Alton Way less than a mile from I-25. This building was constructed in 1979. Rare freestanding office building with upgraded finishes.
Unique Properties Announces Sale of Castle Rock Medical Office
Phillip A. Yeddis, Executive Vice President of Unique Properties, Inc., announced the sale of a medical office condominium located at 3750 Dacoro Lane in Castle Rock, Colo. The Meadow Professional Plaza is a 30,650-square foot complex built in 2007 features an outdoor plaza, 4.5 per 1,000 parking, and a brick, glass, and natural stone exterior. The sales price was $850,935. Yeddis represented the seller, Paradox Property 2, LLC. The buyer was the tenant of ten years, Struhs Properties, LLC.