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Page 6AA — COLORADO REAL ESTATE JOURNAL — April 1-April 14, 2015
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Beartrax is a general contractor with specific focus
on interior and exterior re-development of
multi-family properties.
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owns the nearby Hunters Cove
apartment community in Fed-
eral Heights, he said.
“They know this is a submar-
ket that is still moving up,”
Potarf said.
“It is right at the 120th and
I-25 intersection, which real-
ly is Main and Main for that
northern suburban area,” he
said.
Walnut & Main compet-
ed against institutions and
wealthy private investors, both
in the Denver area and from
out of state, he said.
“It did have a loan assump-
tion,” Potarf said.
“That reduced the buyer pool
a little, because not everyone
wants to assume a loan.” he
said. “But we still received
double-digit offers.”
He said the loan assumption
was for about $32 million.
Despite the premium to what
Holland had paid, Walnut &
Main made a smart purchase,
Potarf said.
“They definitely bought it
below replacement cost,” he
said.
“With it only being 13 or 14
years old, it does not need any
major updates,” he said.
“They probably will do some
minor updates on the interior
and the exterior to modern-
ize it. But they knew it was
an asset in really good shape
when they bought it,” Potarf
said.s Walnut & Main recently bought Stone Mountain in Northglenn.
field’s Taylor Hazard. There is a
1,625-sf office area, and the ware-
house has 24-foot clear height
with four dock doors. The space
also includes 38 dedicated park-
ing stalls.
Jeremy Ballenger, Tyler Carner,
Kyle McClure and Wade Wim-
mer of CBRE represented the ten-
ant with Mike Deatly of JLL.
Other News
n Vanino and Hazard encoun-
tered similar demand for a for-
sale property in Golden, which
traded in a $1.7 million cash
transaction that closed in 15
days.
Chaparrall Investment LLC
purchased the 19,196-square-foot
multitenant industrial building
at 16010 W. Fifth Ave. from West
Fifth Avenue Industrial LLC.
The cap rate was approximately
7 percent.
“We had three different groups
submitting letters of intent and
offers on the property,” said Van-
ino, who noted rents are grow-
ing so rapidly there was a good
opportunity to increase income
as leases roll.
The building was 100 percent
leased to a dozen tenants, the
largest of which occupies about
3,000 sf. It features drive-in doors.
n Western Storage and Han-
dling Inc., a materials handling
company that serves Colorado,
Wyoming and Nebraska, signed
a long-term lease for 10,017 sf of
industrial space at 1630 W. Evans
Ave., Unit L, in Denver.
The property includes a 9,000-
sf fenced yard.
Russell Gruber of Newmark
Grubb Knight Frank represent-
ed the tenant. Michael Bloom
of Michael Bloom Realty rep-
resented the landlord, 1600 W.
Evans LLC.s
The multitenant building at 16010 W. Fifth Ave. in Golden sold in a transaction that closed in 15 days. (See
Other News)