October 21-November 3, 2015 —
COLORADO REAL ESTATE JOURNAL
— Page 15AA
ments, as well as Jonas Sylvester. The buyer
will hold property for long-term invest-
ment with potential development purposes
in the future. The seller, Cherry Cricket
Land LLC, regarding 229 Clayton St., exe-
cuted a license agreement for the seller for
parking for this building. There is a triple-
net lease dated 9/17/2015. The property
at 229 Clayton St., sold to Cherry Cricket
Land III LLC from Cherry Creek Floral
LLC (Edward Kim) for $1.2M on 12-18-13.
Deed No. 1 shows a sales price of
$10.34M, which included 2641-2645-2659
E. Second Ave., containing 18,671 sf of land
with 11,679 sf of retail/office space. There
are 30 parking spaces plus two handi-
capped spaces included with this transac-
tion. Deed No. 2 shows this same property
was part of the transaction to Unico BOP
229ClaytonLLC that closed for $3.41Mand
contains 6,329 sf of land area and a 1,600-sf
building (plus a 1,600-sf basement, which is
not included in the building size tabulation)
with six parking spaces.* There is a discrep-
ancy between WinComps building and
land calculations and the press release that
was submitted onOct. 7, as our calculations
were derived solely from the legal descrip-
tion of the deed, coupled with building
sizes as recited in the declaration of condo-
minium for 2641-2645-2659 E. Second Ave.
and 211 Clayton St. Also, verification of the
condo map was researched and parking
spaces were tabulated and totaled to be 38
spaces, including two handicapped.
Property Location
: 2475 W. Second Ave.,
Denver
Property Description
: 152,890 sf, four
warehouse buildings, YOC 1971, twin-tee
Land Size
: 7.12 acres
Sales Price
: $11.45M, or $74.89 per sf
Closing Date
: 9/25
Reception No
: 2015135359
Grantor
: Westcore Broadway LLC, c/o
Westcore Properties, Donald Ankeny, 858-
625-4100, or Denver office, John Fefley or
03-721-7600
Grantee
: 2475W. SecondAvenue Investors
LLC, c/o UBS Realty Investors LLC, 415-
538-4800
Comments
: The four buildings contain
20,930 sf, 41,004 sf, 50,240 sf & 40,716 sf.
The seller’s website shows the building
addresses to be: 2390 W. Fourth Ave., 2475
W. Fourth Ave., 2480 W. Fourth Ave.,
2500 W. Fourth Ave., Denver, “Bryant
Street Quad," while the Denver Assessor
shows one address as 2475W. SecondAve.,
Denver. This property sold for $8.75M, or
$57.23 per sf, two years ago, reflecting an
increase of 30.86% in the value. The parties
were involved in three transactions totaling
$37.5M for 485,316 sf in six buildings locat-
ed in Denver, Jefferson & Adams counties,
reflecting a weighted price of $77.27 per
sf or a cumulative growth of 28.9% for all
three properties as of September.
Property Location
: 4200 Jackson St., Den-
ver
Property Description
: 48,902-sf ware-
house, YOC 1978, twin-tee construction,
eight dock-high doors & three drive-in
doors
Land Size
: 2.14 acres
Sales Price
: $5.28M, or $62.66 per sf
Closing Date
: 9/21
Reception No
: 2015133293
Grantor
: 4200 Jackson Properties LLC,
Brad Knepper, mgr.
Grantee
: EAT-1514, Richard L. Levy, as
intermediary for Next Millennium Proper-
ties LLC, c/o Thomas H. Roberts III, mgr.,
303-713-1588
Financing
: $5.25Mpayable to Tercero Prop-
erties LLC (buyer)
Comments
: Property is downleg of 1031
exchange. The property is near the south-
west corner of Colorado Boulevard& Inter-
state 70 and has rail and sprinklers. It is
located adjacent to 40th&Colorado Station.
Property Location
: SWC Fox Street &West
14th Avenue (1337-57 Fox St. & 600W. 14th
Ave.)
Property Description
: Parking lot, zoned
D-GT,
Land Size
: 36,375 sf
Sales Price
: $4.49M, or $123.68 per sf
Closing Date
: 10/1
Reception No
: 2015138874
Grantor
: S&K Parking LLC, Helen Valdez,
mgr.
Grantee
: Paradise Investment Properties
LLC, Richard Geller, mgr.
Comments
: There is an option agreement
to purchase this site plus 1306-1380 N.
Speer Blvd., currently owned by the grant-
ee and leased to Central Parking. This
site contains 63,515 sf and the site sold to
Paradise contains 36,375 sf. Legacy Partners
Residential (Spencer R. Stuart Jr., based
out of Dallas, 972-728-7200) has an option
to buy both properties totaling 2.29 acres,
which is scheduled to close between now
and no later than 2-9-16. There are plans for
a seven-story buildingwith 322 apartments
and a two-story parking garage on the first
two floors. The density reflects 140.6 units
to the acre on the 2.29-acre site.
Property Location
: 6300 E. Evans Ave.,
Denver
PropertyDescription
: 40,296-sfwarehouse,
YOC 1963, brick construction, 10 dock-high
doors & two interior docks, includes 5,250
sf of office space, 51 parking spaces, 13’-16’
clearance, zoned I-MX-3
Land Size
: 1.76 acres
Sales Price
: $2.53M, or $62.66 per sf
Closing Date
: 9/21
Reception No
: 2015133293
Grantor
: L2A Investments LLC, c/o Matt
Lewan & James L. Arnold, mgrs.
Grantee
: Capra Investment Company
LLLP, Anthony & Barbara Capra, ptnrs.
Comments
: Property was listed by Matt
Lewan of Integrated Property Services, 720-
272-0267 or
.
Property Location
: 2625 Walnut St., Den-
ver
Property Description
: 22,295-sf, two-story
office/industrial building, YOC 1926, brick
construction
Land Size
: 9,394 sf
Sales Price
: $2.6M, or $116.62 per sf
Closing Date
: 9/18
Reception No
: 2015132091
Grantor
: 2625 Walnut Street LLC, Richard
Mark Fitzpatrick & Michael T. Mayberry,
mbrs., c/oMagpul Industries, 877-462-4785
Grantee
: Callinectes LLC, c/o TurnCom-
merce, Andrew& Jeffrey Reberry, mbrs.
Financing
: $1.95M, due 9/17/25, payable
to Wells Fargo Bank, NA
Comments
: Buyer’s company is TurnCom-
merce Inc., located at 2635 Walnut St., Den-
ver 80205, 303-893-0404. Buyer also owns
2635 Walnut, a 9,632-sf commercial office
building constructed in1961. The last sale of
2625 Walnut occurred 5/31/12 for $1.65M.
The sellers own Magpul Industries of Aus-
tin, Texas, a leading firearms manufacturer
that relocated to Texas and Wyoming in
2014 due to political differences regarding
gun control laws in Colorado.
Property Location
: 2366 S. Linden Court &
2337-51-67-87 S. Locust St., Denver
Property Description
: Five two-story, four-
plex buildings totaling 20 units (all two-
bedroom units, w/16,170 sf, YOC 1966,
brick construction
Land Size
: 33,550 sf
Sales Price
: $2.1M, or $105,000 per unit, or
$129.87 per sf
Closing Date
: 9/1
Reception No
: 2015131542
Grantor
: Linden and Locust LLC, Hal
Naiman &Howard L. Snyder, mgrs.
Grantee
: Linden Locust LLC, Martha Page,
mgr.
Financing
: $1.58M, due 10/1/45, payable
to JPMorgan Chase Bank, NA
Comments
: These five buildings are not
adjoining and were listed by Greg Price &
Clayton Primm of Marcus &Millichap.
Property Location
: 8154 E. Martin Luther
King Jr. Blvd., or 2979 Uinta St., Denver
Property Description
: Vacant land,
Land Size
: 67,885 sf zoned C-MU-20
Sales Price
: $1.57M, or $23.05 per sf
Closing Date
: 9/21
Reception No
: 2015133327
Grantor
: Stapleton 8L26R LLC, Charles
Johnson, mgr., 720-350-4680
wcjre.com, or Bill Johnson @ 720-891-7715
o
Grantee
: Stapleton Senior Living LLC,
BrianWatson, mgr., 303-893-9500
Comments
: Property is locatedon the SWC
of East Martin Luther King Jr. Boulevard &
Uinta Street, and has been amended (see
Reception No. 2015133239) to be a licensed
assisted-living facility, a licensed memory
care facility and/or a licensed skilled-nurs-
ing home facility. The seller purchased the
property in June 2014 for $750,000. Property
was fully entitled and the $1.57M included
seller’s plans.
Property Location
: 4630 E. Asbury Circle,
Denver
Property Description
: 12-unit, three-story
walkup apartment, YOC 1962, 8,649 sf,
brick construction
Land Size
: 6,870 sf
Sales Price
: $1.41M, or $117,083 per unit, or
$162.45 per sf
Closing Date
: 9/17
Reception No
: 2015131542
Grantor
: PK Asbury Arms LLC, Jeffrey P.
Kramp & Thomas M. Payn, mbrs.
Grantee
: Asbury House LLC, Ari & Sam
Mark, mbrs., c/o SMI RE, 310-278-5009
Financing
: $1.05M, due 10/1/45, payable
to JPMorgan Chase Bank, NA
Comments
: There are 11 two-bedroom
units and a one-bedroom unit. Property
was listed by Joe Hornstein & Scott Fetter
of Pinnacle Real Estate Advisors LLC. The
property last sold in June 2013 for $1.05M.
Property Location
: 4080 Globeville Road,
Denver
Property Description
: 8,350-sf warehouse,
YOC 1963, brick/block construction, &
5,950-sf warehouse, YOC 1989, metal con-
struction (total of 14,300 sf)
Land Size
: 35,831 sf
Sales Price
: $1.25M, or $87.41 per sf
Closing Date
: 9/18
Reception No
: 2015123205
Grantor
: Globeville Road LLC
Grantee
: 4080 Globeville LLC, Joseph
Ramos, 801 E. 17th Ave., Denver 80218
Financing
: $1.13M due 9/1/20, payable to
SR LLC
Comments
: Property sold in May 2014
for $950,000 by Colliers International, Tim
Shay & Geoff Kreusser, SIOR.
Property Location
: 2150 S. Cherry St., Den-
ver, “former Jones/Kaplan RE School”
Property Description
: 12,139-sf school,
YOC 1974, brick/frame construction
Land Size
: 37,404 sf
Sales Price
: $1.23M, or $75.56 per sf
Closing Date
: 9/18
Reception No
: 2015132023
Grantor
: Norwood L. Robb
Grantee
: The House Worship Center Inc.,
Delford Phillips, pastor, 303-355-0297
Financing
: $943,000 due 9/18/40, payable
to Key Bank, NA
Comments
: Property was listed by Peter
Sengelmann, Cody Stambaugh &Matt Rit-
ter of Pinnacle Real Estate Advisors for
$1.4M. Updated parking lot, HVAC updat-
ed in 1997, cell tower included with $22K
income. Buyer will occupy the building
from its existing location at 195 S. Monaco
Parkway.
Douglas County
Property Location
: 483 Scott Blvd., Castle
Rock
Property Description
: 220-unit, three-story
apartment complex, 200,516 sf, with 11
buildings and a 2,837-sf clubhouse, YOC
1998, frame construction
Land Size
: 11.02 acres
Sales Price
: $37.2M, or $169,091 per unit, or
$185.52 per sf
Closing Date
: 10/5
Reception No
: 2015072468
Grantor
: Lo Bluffs at Castle Rock LLC, c/o
The Lynd Company, Samuel J. Kasparek,
VP, 210-733-6125
Grantee
: JSP Lantana LLC, c/o Jackson
Square Properties LLC, Thomas J. Coates &
Curtis S. Gardner, mgrs., 415-354-9900
Financing
: $27.52M, due 10/1/22, payable
to CBRE Multifamily Capital
Comments
: This transaction was negoti-
ated by ARANewmark, Jeff Hawks, Doug
Andrews, Shane Ozment, Terrance Hunt &
Anna Stevens. The last sale was in August
2012 for $22.6M. There are 85 1/1 units @
736 sf renting for $900-$953; 47 2/1 @ 925
sf renting for $1,017 to $1,074/mo.; 39 2/2
@ 1,026 sf renting for $1,147 to $1,226/
mo.; 41 2/2 units @ 1,087 sf renting for
$1,211-$1,315/mo.; four 3/2 units @ 1,207 sf
renting for $1,315 to $1,400/mo. & four 3/2
units @ 1,268 sf renting for $1,410-1,460/
mo. There are 88 units renovated, which
reflects an increase in rent from 5.5% to
6.5% over non-renovated apartments. The
average unit is 911 sf and rents for $1,057/
mo., or $1.16 per sf.
Property Location
: 18951 E. Main St., Park-
er, “Twenty Mile Depot
Property Description
: 14,770-sf retail cen-
ter, YOC 2002, masonry construction
Land Size
: 1.39 acres
Sales Price
: $3.25M, or $220.04 per sf
Closing Date
: 10/1
Reception No
: 2015071357
Grantor
: May’s Realty Inc., Patricia May,
VP
Grantee
: Kathy and Johnny Inc., Hiep
Ngoc Nguyen, mbr.
Financing
: $1.46M due 10/15/25, payable
to FirstBank
Comments
: This transaction was negoti-
ated by Trevey & Company, Mitch Trevey
and Nick Nickerson, 303-841-1400. The
lease rates are quoted at $20 per sf triple net.
Based on listing broker's brochure, the NOI
is $275,371. Based on actual numbers with
1,700 sf vacant, which equates to 11.5%, the
"in-place cap rate" is 7.5%.
Jefferson County
Property Location
: 16600 Table Mountain
Parkway, Golden
Property Description
: 261,825-sf ware-
house, YOC 1997, concrete panel construc-
tion
Land Size
: 13.7 acres
Sales Price
: $20.5M, or $78.30 per sf
Closing Date
: 9/25
Reception No
: 2015000080104
Grantor
: Westcore Table Mountain LLC,
c/o Westcore Properties, Donald Ankeny,
858-625-4100, or Denver office, John Fefley,
r 303-721-7600
Grantee
: Table Mountain Parkway Inves-
tors LLC, c/o UBS Realty Investors LLC,
415-538-4800
Comments
: This property sold for $16.07M
in September 2013, thus reflecting an appre-
ciation of 27.55% over the last two years.
Property Location
: 12155 W. 58th Ave.,
Arvada “Village West”
Property Description
: 58-unit, three-story
apartment, 60,208 sf, YOC 1972
Land Size
: 2.36 acres
Sales Price
: $7.95M, or $137,069 per unit, or
$132.04 per sf
Closing Date
: 9/21
Reception No
: 2015100535
Grantor
: Village West Investment Group,
c/o G.H. Cooper Properties Inc., Sheryl
Cooper, mgr.
Grantee
: 29SC Village West LP, Stan
Beraznik, 312-548-8589, 29th Street Capital
Financing
: $6.4M, due 10/1/22, payable to
Holliday Fenoglio Fowler
Comments
: There are 10 units with one
bedroom/one bath @ 725 sf that rent for
$950 per mo. and 48 units with two bed-
rooms/two baths @ 975 sf, renting for
$1,175/mo.
The Winslow Report
