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Page 8AA — COLORADO REAL ESTATE JOURNAL — February 18-March 3, 2015
Retail
by John Rebchook
Denver-based Quiat Cos.,
which quietly has been invest-
ing in real estate and oil and
gas properties for more than 50
years, recently paid $2.45 mil-
lion for the Westminster Gate-
way property at 10309 Reed
St., at the intersection of U.S.
36 and Church Road in West-
minster.
Although the sales price
isn’t huge, the 100 percent
leased, newly
opened West-
minster Gate-
way has only
5,000 square
feet.
In other
words, West-
minster Gate-
way sold for
$490 per sf.
“Honestly, I
don’t know if that was a record
price per square foot,” said
Chris Wiedenmayer, who han-
dled both sides of the transac-
tion with fellow Legend Invest-
ment Group brokers Sam Zaitz
and Kyle Underwood.
“I can tell you it is one of the
highest price-per-square-foot
deals in that area,” Wieden-
mayer said.
He said Westminster Gate-
way is a perfect example of the
type of deals that are drawing
investors that want a steady
income, as opposed to a value-
add opportunity.
“The way the market is now,
these kinds of deals are sell-
ing at historically high prices
per square foot and at low cap
rates,” Wiedenmayer said.
“Investors of triple net deals
are looking for long-term secu-
Belmar adds a restaurant
and plans for hotel
Belmar added a new restau-
rant and is planning for a new
hotel to open.
The French Press relocated to
Belmar from its previous loca-
tion on South Union Boulevard.
The 2,609-square-foot café and
bakery serves coffee and espres-
so, breakfast, lunch and brunch.
The French Press is located at
7323W.AlaskaDrive inLakewood.
In addition, Hyatt House
broke ground in Belmar. Hyatt
House is a six-story, upscale,
extended-stay hotel. The hotel
will feature 138 rooms with
spaces designed to make guests
feel like residents. Hyatt House
broke ground in January and
is expected to open in January
2016.
Belmar is located at 464 S. Tell-
er St. in Lakewood.
Northfield adds tenant
The Shops at Northfield Sta-
pleton welcomed a new tenant
Westminster Gateway is 100 percent leased.
The French Press relocated to Belmar over the winter.
Chris
Wiedenmayer
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