November 4-November 17, 2015 —
COLORADO REAL ESTATE JOURNAL
— Page 19AA
EMC
2
recently leased space in the build-
ing and the building is fully leased.
Property Location
: 949 Marine St., Boul-
der, “Hill HouseApartments”
Property Description
: 31-unit apartment
w/27,544 sf, YOC 1968, & 737-sf house,
YOC 1927 (total 32 units & 28,281 sf, includ-
ing house)
Land Size
: 31,636 sf
Sales Price
: $8.65M, or $270,312 per unit, or
$305.86 per sf
Closing Date
: 9/15
Reception No
: 03477154
Grantor
: Hillhouse LLC, Edwards CO,
Trent Cole Revocable Trust, Kathleen A.
Cole, trustee
Grantee
: Hill House LLC, John S. Pugh &
Judith Pugh, mgrs.
Financing
: $6.06M, due 10/1/45, payable
to JPMorgan Chase Bank NA
Comments
: Transaction handled by CBRE
Inc. multifamily team.
Property Location
: 1850 Lefthand Circle,
Longmont
Property Description
: 61,100-sf warehouse,
YOC 1977, twin-tee construction
Land Size
: 2.45 acres
Sales Price
: $2.92M, or $47.78 per sf
Closing Date
: 10/13
Reception No
: 03478836
Grantor
: Highland Properties 2515 LLC,
intermediary for Beaver Creek Investments
LLC, Michael E. Seavall, mgr.
Grantee
: BFSL Holdings LLC, 1850
Lefthand Circle, Longmont 80501
Comments
: Downleg portion of the
exchange. Press release shows price to be
$2.75M and buyer’s company, Premium
Powder Coating Inc. took occupancy of
the building in June. Jason Kruse of the
Colorado Group represented the seller and
Keith Kanemoto of Re/Max Traditions rep-
resented the buyer. See 03453036 for first
deed from Beaver Creek Investments LLC
for $2.75M.
Property Location
: 5505CentralAve., Boul-
der
Property Description
: 13,600-sf manufac-
turing building, YOC 1977
Land Size
: 37,471 sf
Sales Price
: $1.95M, or $143.38 per sf
Closing Date
: 10/13
Reception No
: 03479082
Grantor
: 5505 Central Ave. LLC, Frank H.
Schaller, mgr.
Grantee
: 5505 Central LLC, c/o Goff Capi-
tal Partners LP, 817-509-3951, Fort Worth
TX 76102
Comments
: Buyer has Colorado office,
MarkW. Collier, 303-395-1890.
Property Location
: 637 Front St., Louisville,
“Lucky Pie Pizza & Tap House”
Property Description
: 5,775-sf restaurant,
YOC 1966, brick construction
Land Size
: 13,409 sf
Sales Price
: $1.2M, or $207.79 per sf
Closing Date
: 10/13
Reception No
: 03479833
Grantor
: City of Louisville, Robert P. Muck-
le, mayor
Grantee
: Front Street Ventures LLC, Bren-
dan McManus, mgr., 637 Front St, Louis-
ville, 80027
Financing
: $484,000 payable to Flatiron
Bank
Comments
: Owner has occupied building
and purchased it from the landlord. It also
has a restaurant in Denver.
Property Location
: 1013 Main St., Long-
mont
Property Description
: 21-unit, two-story
motel w/6,108 sf, YOC 1966, brick
Land Size
: 0.26 acres
Sales Price
: $1.12M, or $53,095 per unit, or
$182.55 per sf
Closing Date
: 10/16
Reception No
: 03480158
Grantor
: Mike Macinko
Grantee
: Longmont Courtyard LLC, c/o
Elevation Property Group LLC, Scott Fetter,
Todd Fetter, Scott Bell & Suzanne Fetter, 616
E. HymanAve., Aspen 81611
Financing
: $811,875 payable to Credit
Union of Denver-Centennial Lending
Comments
: Located north of the newWal-
greens store
Property Location
: 5250 Manhattan Circle,
Boulder
Property Description
: 2,898-sf retail build-
ing, YOC 1969, stucco/frame
Land Size
: 18,750 sf
Sales Price
: $710,000, or $245 per sf
Closing Date
: 10/13
Reception No
: 03479615
Grantor
: TLIMLLC, Thau Lim, mgr.
Grantee
: 2-Spite LLC, Siobhan Sullivan &
LynnAndrewVoss, mbrs.
Financing
: $995,000 due 9/29/40, payable
to Hanmi Bank, Los Angeles
Comments
: Has been used as “Viking
Liquor” store. Buyers plan to use building
for theirmedical practice, Boulder Orthope-
dics, 303-449-2730. Voss is a board-certified
orthopedic surgeon.
Denver County
Property Location
: 1260 S. Bellaire St., Den-
ver,” Cambridge PlaceApts.”
Property Description
: 114-unit apartment
with four buildings, 81,408 sf, YOC 1967,
brick veneer construction
Land Size
: 80,400 sf
Sales Price
: $13.34M, or $117,018 per unit,
or $163.87 per sf
Closing Date
: 10/15
Reception No
: 2015146430
Grantor
: Picadilly II Associates, Ed Spring-
man, gen. ptnr., 425-454-8900
Grantee
: 1260 S. Bellaire St. (Cambridge)
LLC, c/o Arel Capital, Richard G. Leibo-
vitch, mbr., 212-920-4901
Financing
: $8.68M, payable to Vectra Bank
NA
Comments
: Transaction was handled by
Terry Smith, broker. Smith has handled
Springman’s apartment buildings since the
early 1980s. The floor plans include 500-sf
studios; 650-sf, 1-bedroom units; & 900-sf,
2-bedroom apts.
Property Location
: 9575 E. 40th Ave., Den-
ver
Property Description
: Vacant commercial
land
Land Size
: 13 acres
Sales Price
: $6M, or $10.60 per sf
Closing Date
: 9/29
Reception No
: 2015137197
Grantor
: SW Regional Council of Carpen-
ters, Randy J. Sowell, LosAngeles CA90071
Grantee
: TTRE CO 1, c/o Sonic Automo-
tive, 704-566-2400, Charlotte NC 28211
Comments
: Property is located on the
north side of E. 40th Ave., approximately
1,000’ east ofNorthCentral ParkBoulevard.
Buyer is a North Carolina-based automo-
tive dealership and plans to build a dealer-
ship on the site.
Property Location
: 1760 Pearl St., Denver
Property Description
: 22-unit, two-story
apartment building w/9,474 sf, YOC 1929,
brick construction, 16 1-bed/1bath & 6 stu-
dios
Land Size
: 6,250 sf
Sales Price
: $3.4M, or $154,545, or $358.88
per sf
Closing Date
: 10/13
Reception No
: 2015146323
Grantor
: Dickson Redevelopment LLC,
Kevin T. Dickson, mgr.
Grantee
: Hokkaido LLC 3305 4th, Christo-
pher Himes, mgr., 720-428-8366
Financing
: $2.53M due 10/10/25, payable
to FirstBank
Comments
: Transaction negotiated by Pin-
nacle Real Estate Advisors LLC, J.B. Hoch-
man & Justin Brockman, 303-962-9533. Stu-
dios rent for $850 per month and 1-bed-
room units rent for $1,000 per month.
Property Location
: 6700 E. Stapleton Drive
South, Denver
Property Description
: 39,764-sf warehouse,
including2,700-sf office area, 20’ clear, sprin-
kled, 5 dock-high doors, 2 drive-in doors, 3
rail doors, YOC 1964, block construction
Land Size
: 1.94 acres
Sales Price
: $3.08M, or $77.46 per sf
Closing Date
: 10/1
Reception No
: 2015138663
Grantor
: Alcazar Stapleton Holdings LLC
Grantee
: Knudson Denver LLC, Kent WA
98032
Comments
: Property was listed by Bill
Thompson, SIOR, 720-528-6373, & Jeremy
Kroner, 720-528-6455, of CBRE Inc. Prop-
erty sold in September 2014 for $1.8M.
The buyer’s company is Associated Energy
Systems, based out of Kent WA, and is
currently located at 5077 Kingston. It is
unknown if and when it will occupy the
subject property.
Property Location
: 1320 York St., Denver
Property Description
: 13-unit, 3-story
apartment building w/8,526 sf, YOC 1930,
brick construction, (9 1-bed/1-bath & 3
2-bed/1-bath units & 1 3-bed penthouse)
Land Size
: 9,375 sf
Sales Price
: $2.45M, or $188,462, or $287.36
per sf
Closing Date
: 10/14
Reception No
: 2015146248
Grantor
: York St. East LLC, Ann Sharon
Demint, mgr.
Grantee
: ClaytonWilliams LLC, Don Bren-
nan*, mgr., 303-292-5608
Financing
: $1.84M due 10/10/25, payable
to FirstBank
Comments
: Transaction negotiated by Pin-
nacle Real Estate Advisors LLC, J.B. Hoch-
man&JustinBrockman, 303-962-9533. One-
bedrooms rent from $750-$875 per month
and 2-bedroom units rent for $1,000 per
month. *Buyer is in the property manage-
ment division of Pinnacle Real EstateAdvi-
sors LLC.
Property Location
: NWC Jackson Street &
East 46th Avenue (I-70) (4605 Jackson St.),
Denver
Property Description
: 15,022-sf warehouse,
YOC 1955, block construction
Land Size
: 3.9 acres
Sales Price
: $2.5M, or $14.72 per sf
Closing Date
: 9/11
Reception No
: 2015129532
Grantor
: Penske Truck Leasing Co. LP,
Karen L. Shchuka, VP of real estate
Grantee
: Department of Transportation
State of Colorado
Comments
: Full takingbyeminentdomain,
highway expansion purposes, not arm's-
length transaction.
Property Location
: 888 E. 50th Ave., Den-
ver
Property Description
: 16,104-sf warehouse,
YOC 1948, block construction
Land Size
: 2.72 acres
Sales Price
: $2M, or $16.91 per sf (land
value), or $124.19 per sf (improvement
value)
Closing Date
: 10/1
Reception No
: 2015138684
Grantor
: K&M Investments, Karla Reed,
mgr.
Grantee
: Globeville Riverfronts Arts Cen-
ter LLC, Morton Zeppelin, mgr.
Financing
: $1.4M @ 4.75% (interest only)
due 9/30/19, owner financed
Comments
: Property is located on the
southwest corner of the South Platte River
& East 50th Avenue, approximately 800’
east of Washington Street. The property is
zoned I-B, industrial
Property Location
: 215 E. Bayaud Ave.,
Denver
Property Description
: 11-unit, two-story
apartment building w/7,439 sf, YOC 1938,
brick construction
Land Size
: 7,310 sf
Sales Price
: $2M, or $181,818, or $268.85
per sf
Closing Date
: 10/13
Reception No
: 2015146328
Grantor
: Jacobellis Family LLC , Tammy L.
Jacobellis, mbr.
Grantee
: 215 Bayaud Ave LLC, Jeff Conn,
mgr.)
Financing
: $1.38M, payable toAlpine Bank,
Rifle CO
Comments
:
Property Location
: 1600 S. Albion St.,
Denver
Property Description
: 15-unit, three-story
apartment building with 10,695 sf, YOC
1960, brick construction
Land Size
: 13,200 sf
Sales Price
: $1.73M, or $115,333, or $161.76
per sf
Closing Date
: 10/9
Reception No
: 2015143516
Grantor
: Virginia E. Arnett
Grantee
: Johnson Properties LLC, Mark
Johnson, 303-785-4300
Financing
: Cash
Comments
: Johnson Properties acquired
1588 S. Albion St. on 10/15/13 for $1.02M;
1594 S. Albion St. on 10/30/13 for $1.02M;
1520 S. Albion St. for $2.38M on 9/28/12;
4101 E. IowaAve. for $1.14M; 1650 S.Albion
St. for $2.19M; or a total of $9.48M in the last
three years, within one city block.
Property Location
: 1050 Yuma St., Denver
Property Description
: 21,861-sf, two-story
office/warehouse building, YOC 1963
Land Size
: 18,960 sf
Sales Price
: $1.59M, or $96.25 per sf
Closing Date
: 10/15
Reception No
: 2015146565
Grantor
: Joni LLC, Maria Villalobos, mgr.
Grantee
: 1050 Yuma Pros LLC, Jeramiah
Owen & Ann Schurig, mbrs., c/o Vivax
Pros, 720-331-9735
Financing
: $2.02M, payable to First Nation-
al Bank of Denver*
Comments
: Listed by Sofia Williamson of
Dunton Commercial, 720-382-7308, & Brad
Gilpin, 303-321-5888, of Unique Proper-
ties LLC-TCN Worldwide represented the
buyer. Buyer will relocate to 1050 Yuma St.
and Gilpin has its property located at 501 S.
Lipan St. on the market for $829,000. *Blan-
ket mortgage including grantee’s property
located at 501 S. Lipan St., Vivax Pros
Property Location
: 2080W. Barberry Place,
Denver
Property Description
: 8,000-sf warehouse,
YOC 1976, 2 dock-high doors, 3 grade-level
doors, brick construction
Land Size
: 12,000 sf
Sales Price
: $770,000, or $96.25 per sf
Closing Date
: 9/17
Reception No
: 2015131489
Grantor
: Robert L. Chavez
Grantee
: CBI Real Estate LLC, Brian Van-
tassel & Jose Ramirez, mbrs.
Financing
: $620,000 @ 6% due 10/1/25,
due 9/18/40, payable to grantor
Comments
: Listed and sold by TomMyers,
303-512-1187, & Brandon Paxton, 303-
512-1165, of Unique Properties LLC-TCN
Worldwide. There was a new roof made
from EFPDM Rubber material and the
building was vacant at time of sale.
Douglas County
Property Location
: 1105 Sergeant Jon Stiles
Drive, Highlands Ranch, “Kneaders”
Property Description
: 3,798-sf restaurant,
YOC 2015, masonry construction.
Land Size
: 43,560 sf
Sales Price
: $2.64M,or $694.15 per sf
Closing Date
: 10/16
Reception No
: 2015075029
Grantor
: FFG Development LLC, Andrew
Smith, mgr., 801-642-3800
Grantee
: 236 South Sierra LLC, J. Karl
Kreutzer, mgr., 206-451-4101
Financing
: $1.2M, payable to Symetra Life
Insurance Co., due 11-1-22
Comments
: Listed and sold by Pinnacle
Real Estate Advisors LLC, Tom Ethington,
303-962-9538, & Rob Edwards, 303-962-
9557. There is a new 15-year, triple-net
lease with 10% increases every five years.
The “going-in” cap rate is 5.6% (no vacan-
cy or reserves calculated).
The Winslow Report
John V. Winslow, CRE, is president of Win-
Comps LLC and has more than 40 years’
experience in commercial
real estate. He can be
reached at 720-612-7878
o
c
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
