September 16-October 6, 2015 —
COLORADO REAL ESTATE JOURNAL
— Page 25AA
Frank DeHoff, pres.
Grantee
: Spirit Master Funding X LLC,
c/o Spirit SPE Manager LLC
Comments
: This was a three-parcel
property offered by CBRE Inc. as a sin-
gle-tenant sale leaseback with Best Car
Buys as the tenant and seller. The in-
place cap rate was 7.25% with James
Bolt, 720-528-6310, Jeremy Ballenger,
720-528-6383 & Tyler Carner, 720-528-
6397. The two buildings on the 3.28-acre
property total 34,395 sf.
Property Location
: 5005 Ironton St.,
Denver
Property Description
: 51,640-sf ware-
house, YOC 1973, six dock-high doors,
three rail doors, and 16- to 22-foot clear
height
Land Size
: 1.91 acres
Sales Price
: $3.33M, or $64.49 per sf
Closing Date
: 8/21
Reception No
: 2015118158
Grantor
: 5005 Ironton LLC, c/o North-
star, Brian Watson, mgr., 303-893-9500
Grantee
: A+Y Properties LLC, Joseph
Fried, mgr., Denver 80206
Financing
: $2.33M payable to Bank of
the West
Comments
: This property was listed by
Tyler Carner, 720-528-6397, Jeremy Bal-
lenger, 720-528-6393, and Bill Thompson,
720-528-6373, of CBRE. The property had
an in-place NOI of $231,192 (obtained by
listing brochure), reflecting a 6.9% cap
rate, not including vacancy, reserves or
management. The tenants are Colorado
Party Rentals and the Denver Tent Co.
with remaining terms of 10 years and
seen years, respectively. A new roof was
installed 1/14/2010 under a 15-year Ver-
sico warranty. The seller recently invest-
ed approximately $1 million in tenant
improvements, including new electrical,
plumbing, HVAC, lighting and office
build-out. Buyer paid slightly more than
the listing price of $3.3M.
Property Location
: 601 16th St. & 1615
Welton St., “Cottrell Building”
Property Description
: 19,216-sf, three-
story retail building, YOC 1927, & 6,261-
sf parking lot that was sold separately
for $2.7 million (land value sale)
Land Size
: 15,654 sf
Sales Price
: $6M, or $383.29 per sf (land
value)
Closing Date
: 8/25
Reception No
: 2015119559 & 2015119509
(2 deeds combined)
Grantor
: The Valley Greens East Inc.,
Gregory L. Temple, pres., & MPT Trust,
Laura-Neta Temple, trustee
Grantee
: Kin Yon LLC, Evan Makovsky,
mgr.
Financing
: $3.3M (encumbers both
properties) @ 4.75%, due 8/31/20*
Comments
: Buyer paid $3.3 million for
601 16th St., which is the Cottrell Build-
ing, and $2.7 million for the adjoining
parking lot located at 1615 Welton St.*
Could not verify if this was a “land
value purchase.” Deed of trust is interest
only payments of $13.06M per month.
Buyer will tear down Cottrell building
in less than a year from date of closing.
Property Location
: 10975 E. 47th Ave.,
Denver
Property Description
: 21,135-sf brick,
two-story warehouse, includes 8,000 sf,
YOC 1969 (renovated in 2006), four dock-
high doors, 20-foot clearance, fenced and
gated.
Land Size
: 1.41 acres
Sales Price
: $1.99M, or $94.16 per sf
Closing Date
: 8/17
Reception No
: 2015115943
Grantor
: Global Holdings LLC, Jerry M.
Chatel, mbr.
Grantee
: Jolet Warehouse LLC, c/o Post
Investment Group, 8149 Santa Monica
Blvd., Suite 298, Los Angeles, CA 90046
Comments
: Kirk Vanino, 303-813-6453,
& Taylor Hazard, 303-813-6449, both of
Cushman & Wakefield, represented the
seller. This property is zoned I-B.
Property Location
: SEC W. Conejos
Place & Irving Street, 1530-1544 Irving
St., Denver
Property Description
: Land value,
zoned G-MU-3
Land Size
: 20,069 sf, zoned G-MU-3
Sales Price
: $1.47M, or $73.25 per sf
Closing Date
: 6/12 & 6/19
Reception No
: 2015078246 & 2015083269
Grantor
: J. Napolitan & Co. & John
Loughridge & Nicole Elizabeth Jayne
Grantee
: Curtis Townhomes LLC, Leon-
ard Taub, 5 Tall Oaks Court, Syosset NY
11791
Comments
: $1.05M for Lots 25-28 and
south 12 feet of Lot 29, Cheltenham,
which equals 14,560 sf, or $71.77 per sf;
second deed is for $425,000, which is the
corner parcel located at the southeast
corner Conjeos Place & Irving Street,
which contained 5,590 sf and sold for
$76.03 per sf. Listing broker was Mark
Debenedictis of Re/Max Masters Millen-
nium. The property at 1530-1540 Irving
is zoned for 12 townhomes, two struc-
tures with six units each, totaling 17,500
sf. The property at 1544 Irving St. has a
home.
Property Location
: 1) 4363 Tennyson St.
2) 4338 Tennyson St. 3) 4162-64 Tennyson
St. 4) 4170 Tennyson St.
Property Description
: 1) 2,422-sf restau-
rant, YOC 1987, stucco construction; 2)
1,212-sf retail building plus 800-sf fin-
ished basement area, YOC 1928, stucco;
3) 880-sf office/retail conversion, YOC
1945; 4) two-story, 2,875-sf office, YOC
1936
Land Size
: 1) 6,370 sf, 2) 3,172 sf, 3) 4,819
sf, 4) 4,225 sf
Sales Price
: 1) $850,000, or $350.95 per sf;
2) $599,900, or $494.97 per sf; 3) $570,000,
or $647.73 per sf; 4) $920,000, or $320 per
sf; sum total equals $2.94M, or $397.88
per sf
Closing Date
: 1) 8/19, 2) 7/9, 3) 6/15,
4) 6/15
Reception No
: 1) 2015117277, 2)
2015095209, 3) 2015078951, 4) 2015078304
Grantor
: Planned Pethood Plus Inc., Jef-
frey D. Young, pres.
Grantee
: Shekhinah Ltd., c/o Michael
J. Mueller, ptnr.; 2) Hosanna Homes
LLC; 3) Gracious Properties LLC; 4)
NYN Investments LLC, Nicholas & Sil-
via Medina, mbrs.
Financing
: 3) $427,500 payable 7/1/25,
4) $690,000 payable to DV Aurora Bank-
ing Center
Comments
: 1) Lease for building com-
menced 2/16/11 for $51,915 per year
until said lease was terminated as the
result of tenant acquiring the property as
per lease-purchase option. Vincent Polce
of Buell & Co. represented Planned Peth-
ood Plus Inc. and Jamie Mitchell of NAI
Shames Makovsky Realty, nowwith Pin-
nacle Real Estate Advisors, represented
the tenant. Lease was terminated on
8/19/15. On four separate transactions,
as shown above, Planned Pethood sold
four properties on Tennyson Street in the
second quarter of 2015.
Property Location
: Northwest corner
West 40thAvenue & Jason Street, Denver
Property Description
: Misc. improve-
ments, land value
Land Size
: 20,875 sf
Sales Price
: $950,000, or $45.51 per sf
Closing Date
: 8/27
Reception No
: 2015121710
Grantor
: Salvador Bonilla
Grantee
: 4001 Jason St. LLC, Michael
Mathieson & Jason Rietz, mgrs.
Financing
: $617,500 @ 4.25%due 9/1/17,
payable to FirstBank
Comments
: Mathieson has done several
residential redevelopments, including
Tennyson Townhomes.
Douglas County
Property Location
: Northeast corner of
Motsenbocker Road & Endeavor Drive,
Parker
Property Description
: Residential land
& tracts
Land Size
: 186 lots, or 52.82 acres
Sales Price
: $6.23M, or $2.71 per sf, or
$33,500 per lot
Closing Date
: 7/23
Reception No
: 2015055196
Grantor
: OCC Holdings LLC, Daniel R.
Sheldon, pres.
Grantee
: RichmondAmerican Homes of
Colorado Inc., Holly Hoxeng
Comments
: The 186 lots average 6,879 sf
with a total lot area of 29.37 acres, with
five tracts of land totaling 23.45 acres.
The total land sold in this transaction
was 52.82 acres.
Property Location
: 11800 E. Oswego St.,
Englewood
Property Description
: 13,404-sf strip
center, YOC 2001, masonry construction
Land Size
: 1.45 acres
Sales Price
: $3.28M
Closing Date
: 8/28
Reception No
: 2015063579
Grantor
: Meridian Village LLC, Bradley
P. Brooks, mgr., 303-255-4700
Grantee
: Loantree Associates LLC, Sam-
uel H. Brown, mbr.
Financing
: $2.46M payable to Westerra
Credit Union, due 9/1/25
Comments
: Seller purchased property
in March 2014 for $1.75M. Anchor ten-
ant is Great Beginnings Café & Rail Pub
Sports Bar. Quoted lease rate when seller
owned property was $19 per sf NNN for
1,750 sf.
Property Location
: 826 New Memphis
Court, Castle Rock, “Castle Rock Knead-
er’s ”
Property Description
: 3,800-sf restau-
rant, YOC 2015, masonry construction
Land Size
: 43,299 sf
Sales Price
: $2.71M, or $713.95 per sf
Closing Date
: 8/31
Reception No
: 2015063669
Grantor
: FFG Development LLC,
Andrew Smith, mgr.
Grantee
: 3R Investment Group LP,
Chester James Rouse, Lowell John Rouse
& Dee Rouse Leonard, mgrs.
Comments
: Long-term lease with
Kneader’s Cafe
Property Location
: S/S Cottonwood
Drive, approximately 600 feet east of
Parker Road
Property Description
: Vacant land, pro-
posed Gander Mountain retail store
Land Size
: 5.95 acres
Sales Price
: $2.59M, or $10 per sf
Closing Date
: 8/31
Reception No
: 2015063969
Grantor
: Crown Point Center II LLC c/o
Transmark Company Inc., Steve Scannell
Grantee
: GM Parker 785 LLC c/o Gug-
genheim Retail Real Estate Partners Inc.,
Frisco, TX, Robert F. Strandt Jr., pres.,
817-872-4000
Financing
: $6.1M payable to Fifth Third
Bank, Ohio, due 8/31/17
Comments
: Proposed 57,600-sf Gander
Mountain store in the spring of 2016.
Jefferson County
Property Location
: 10107 W. Dartmouth
Ave. (NWC South Kipling Parkway &
West Dartmouth Avenue), Lakewood,
“Carmel Bear Creek”
Property Description
: 224-unit apart-
ment complex containing 11 buildings
with two and three stories, 206,528 sf net
rentable area, YOC 1996, brick & frame
construction. There are 240 open parking
spaces and 150 detached garages.
Land Size
: 11.38 acres
Sales Price
: $48.25M, or $215,402 per
unit, or $233.62 per sf net rentable area
and $211.65 per sf gross building area
Closing Date
: 8/27
Reception No
: 2015091733
Grantor
: CP III Bear Creek LLC, 525
Market St., 4th Floor, San Francisco, CA,
Christopher J. Beda, Ron Zeff, mgrs.,
Carmel Management, 415-273-2900
Grantee
: JSP Bear Creek III, c/o Jackson
Square Properties, 415-354-9900, Chad
Bunqcayao, director of acquisitions, 415-
273-2116, or
Financing
: $37.71Mdue 9/1/22, payable
to Holliday Fenoglio Fowler LP (HFF)
Comments
: The Landing at Bear Creek,
formerly owned by Carmel Co., pur-
chased the property in 2011 for $27.95
million. There are 48 one-bedroom, one-
bath units @ 745 sf that rent for $1,227/
mo.; 24 one-bedroom, one-bath units
@ 773 sf that rent for $1,250/mo.; 48
units with one bedroom, one bath @
807 sf that rent for $1,270/mo.; 24 two-
bedroom, one-bath units @ 949 sf that
rent for $1,526/mo.; 24 units with two
bedrooms, two baths @ 1,049 sf, which
rent for $1,636/mo.; 24 units with two
bedrooms, one bath @ 1,072 sf renting
for $1,687/mo.; eight units with two
bedrooms, two baths @ 1,075 sf, which
rent for $1,704/mo.; and 24 three-bed-
rooms with two baths @ 1,300 sf, which
rent for $2,126/mo. The average unit
size is 922 sf with an average rent of
$1.60 per sf, or $1,477/mo. This transac-
tion was handled by Reverse Exchange
Services Inc. and negotiated by Jordan
Robbins, 303-515-8010, & Jeff Haag, 303-
515-8004, of HFF. There were $5.45 mil-
lion in upgrades completed since the
seller took ownership in 2011. The roof
was replaced in March 2015. The income
and expenses were not released by the
listing broker.
Property Location
: 7797 W. 52nd Ave.,
“52nd Marketplace Apartments”
Property Description
: 157-unit three-
& four-story apartment complex,
w/108,858 sf, YOC 1974 for 133-unit
four-story, 84,060-sf building; YOC 2004
for two 12-unit, three-story buildings
with 12,399 sf each, a total of three reno-
vated buildings
Land Size
: 4.22 acres
Sales Price
: $21.6M, or $137,598 per unit,
or $198.42 per sf
Closing Date
: 8/28
Reception No
: 2015091839
Grantor
: Arvada Investment Group
LLC, G.H. Cooper Properties Inc., Sheryl
& Glenn Cooper, pres., 310-899-9171
Grantee
: 52nd Marketplace Apartments
LLC, 26 Corporate Plaza Drive, Suite
200, Irvine CA 92606, Bascom Value
Added Apartment Investors III LLC,
Jerome A. Fink, CCIM, co-managing
partner, 949-955-0888
Financing
: $16 million, payable to Bank
of America, NA
Comments
: There are 114 one-bedroom,
one-bath units with one model @ 550
sf that rents for $947/mo., the second
model @ 650 sf rents for $1,077/mo.;
19 two-bedroom, one-bath units with a
model of 850 sf renting for $1,200/mo.;
24 two-bedroom, two-bath units with
a model containing 1,020 sf renting for
$1,477/mo. & a model containing 1,045
sf renting for $1,487/mo.
Property Location
: NEC South Wad-
sworth Boulevard & West Quincy Ave-
nue
Property Description
: Vacant land
Land Size
: 3.8 acres
Sales Price
: $1.15M, or $6.95 per sf
Closing Date
: 8/27
Reception No
: 2015091387
Grantor
: Washburn-Mcreavy Cemetery
Association, William L. Mccreavy, pres.
Grantee
: AP Partners LLC, 348 Tejon
Place, Palos Verdes Estates, CA 90274
c/o Manhattan Group, 310-373-1662,
David Farrell, mgr.
Comments
: This property was listed by
Jack Hanlon of Dunton Realty, 720-382-
7316, or jhanlon@dunton-commercial.
com.
The Winslow Report
Continued from Previous Page
John V. Winslow, CRE, is president of Win-
Comps LLC and has more than 40 years’
experience in commercial
real estate. He can be
r
o
com. The information
was gathered from county
records and deemed to be
reliable. Other sources
of research include bro-
chures and information
verified by owners or list-
ing/selling brokers.
John V. Winslow,
CRE
