CREJ - Journal

33 / 76

by Jill Jamieson-Nichols
Colorado’s – and the
nation’s – largest owner
of distribution facilities
expects Denver’s indus-
trial market will be equal-
ly robust this year, and
it plans to continue to
build to satisfy customer
demand.
“The economy has been
really strong, and all of
our customers seem to
be doing very well,” said
P r o l o -
gis Vice
P r e s i -
dent and
Ma r k e t
O f f i c e r
Wa y n e
Bar re t t .
“ W i t h
the econ-
o m y
being as
good as it is, more people
are buying more things,
and they need more ware-
house space to store those
products.
“We’re pretty bullish
on what 2015 looks like.
You’re going to see con-
tinued development and
positive growth in Denver.
I don’t see anything on
the horizon that’s going to
stop this growth,” Barrett
said.
According to Prologis,
its its 5.5 million-square-
foot industrial portfolio
has been fully leased for
six months. The parent
company of Udi’s Healthy
Foods expanded to 360,000
sf last year, while Czar-
nowski Display Service
and HD Supply preleased
big chunks of two new,
approximately 400,000-
sf buildings Prologis is
building at Stapleton Busi-
ness Center North, located
at East 56th Avenue and
Havana Street in Denver.
At about 260,000 sf each,
Czarnowski and HD Sup-
ply are indicative of a
trend toward larger ten-
ants and larger buildings
in Denver, Barrett said.
“Our average-size ten-
ant seems to be getting
larger in our portfolio,”
said Barrett, who noted
that may be due in part of
the fact that building sizes
are increasing. However,
“I think that’s the matur-
ing of the Denver market.
It’s a larger metropolitan
market than it was five or
10 years ago.”
While it remains a sec-
ondary market, with dis-
tribution companies able
by John Rebchook
Lowe Enterprises Investors of
Los Angeles recently paid $51
million for the 360-unit St. Moritz
apartment community in Lake-
wood.
The St. Mortiz, at 1724 Robb
St., was sold by DiNapoli Capital
Partners of San Jose, California.
“This was part of a four-prop-
erty portfolio sold by DiNapoli,
which is a high-net-worth, family
partnership,” said Terrance Hunt
of the Denver office of ARA.
Hunt represented DiNapoli
in the transaction with fellow
ARA brokers Jeff Hawks, Doug
Andrews and Shane Ozment.
Together, the portfolio sold for
$173 million, Hunt said.
There was a lot of interest from
prospective buyers in the St.
Moritz, which was built in 1986,
Hunt said.
“It is near a future light-rail stop
and it is kind of the Applewood
area near Wheat Ridge; it’s a real
solidWestern suburban location,”
he said.
“For Lowe, this was just a great
value-add play,” Hunt said.
Lowe will be able to spruce
up the interior of the units with
things such as updated cabinets
and make an excellent return on
its investment, he said.
He said DiNapoli remains bull-
ish on the Denver market.
“They still own theHotel Teatro
in downtown Denver,” Hunt
said.
“They were simply closing out
the fund that owned these four
properties,” Hunt said. “They
really like Denver.
The timing was excellent, given
how strong the Denver-area
apartment market is, he said.
“They hit their mark on these
properties,” Hunt said.
DiNapoli would be interested
in buying apartments in the Den-
ver area, if it could find the right
value-add opportunity.
That, however, is no easy task.
“They are continuing to look at
opportunities,” Hunt said.
However, DiNapoli has passed
on potential recent transactions
because it felt the prices were too
high.
“Let’s face it,” Hunt said. “It
is tough to be a buyer today in
Denver. It is such a competitive
market, especially when it comes
to value-add opportunities.”
Other News
n Griffis/Blessing Inc. paid
$45.5 million for the 260-unit Bear
Valley Park Apartments in Lake-
wood.
The Class B+/A community
was constructed in 2003.
The average square footage of
by Jennifer Hayes
It’s the best of both worlds
at Greenway Group for Lisa
Henry.
As CEO of the business
consultancy that provides
services to improve business
performance within archi-
tecture and design firms,
her role combines her two
passions – business strategy
and design.
“There is no question
about it, at Greenway I bal-
ance the best of both worlds
and this is the most produc-
tive I’ve ever been,” said
Henry, who was named
CEO of the firm in Septem-
ber.
“It’s an aspirational
position for me. Jim Cra-
mer (founder of Greenway)
tapped me for this role
because of my combined
experience in business and
design,” continued Henry,
who started out in com-
modities before a second
career in the design world.
“I work with our clients not
to design their space but to
help design their business.”
But before she thought
about business or design as
a career, Henry had a more
philanthropic goal, joining
the Peace Corps. Connect-
icut-born Henry attended
Arizona State University,
where she majored in agri-
culture business manage-
ment.
Following graduation
Henry realized, however,
she wanted to be a part of
the business world.
Henry began her business
career as a trading adviser
with Merrill Lynch in Colo-
rado. She spent nine years
with the firm before looking
to feed her artistic side, spe-
cifically design.
“I knew I couldn’t make a
living as a painter or sculp-
tor but I love art. Fine art is
a tough way to go to earn a
living. But architecture and
design is a viable avenue for
expressing oneself artisti-
cally and connecting to the
economy.”
As well, her commitment
to lifelong learning made
going back to school for a
bachelor’s degree in interior
design an easy decision.
She spent nine years as
director of Officescapes’ Cal-
listo Workplace Studio, then
nearly 13 years at Knoll as
regional director of archi-
tecture and design prior to
joining Greenway in June
2013.
And it is her role at Green-
way that she relishes in let-
ting her two passions unite.
“I get the opportunity to
serve as a trusted adviser to
architects, designers, engi-
neers, to help them facilitate
strategic plans, develop
company programs and
transition strategies,” said
Henry.
“It’s really about helping
firms grow and improve
performance. I believe col-
laboration is extremely
important, a group creates
better ideas than one indi-
vidual,” she added. “If you
want to change anything
major, you have to do it
with other people. Listen.
Learn. Teach. Lead. It begins
with an idea, a point of view
and can transform a com-
pany.”
It is this collaborative spir-
it that is essential to Henry’s
work, which makes it no
surprise that she believes
it also is the reason for her
success.
“We have to step into new
situations ready to learn,
share ideas and reframe and
accept new ways of looking
at the business world,” she
added, noting that incor-
porating strategic planning
into her life has helped her
throughout her career.
Henry embraces the chal-
lenges of her work, the
uniqueness of each client’s
needs and wants, and find-
ing an individual solution.
“I love thinking about
what is new and next, find-
ing new solutions,” com-
mented Henry. “It’s reward-
ing to meet smart people,
new people and understand
them. The best part, how-
ever, is when we leave
them armed with the tools
to make their firm a better
place.”
A lifelong learner, she is
in the executive scholar’s
program at Northwestern
University’s Kellogg School
of Management and the
Center for Creative Leader-
ship. In addition to Arizona
State University, she studied
at Hampshire College and
Interior Design Institute.
Henry also is a guest lec-
turer for students of design
at many colleges and uni-
versities.
She also is a former
national president of
American Society of Inte-
rior Designers, a fellow of
ASID and is active with the
Design Futures Council,
American Institute of Archi-
tects and the Denver Art
Museum.
Henry enjoys fly-fishing
and skiing as well as racing
her Porsche 911. She and her
husband have been married
for 25 years.s
Lisa Henry
SECTION AA
JANUARY 21-FEBRUARY 3, 2015
Lowe recently bought the St. Moritz.
Wayne Barrett