December 2-December 15, 2015 —
COLORADO REAL ESTATE JOURNAL
— Page 19AA
Financing
: $840,000 payable to Credit
Union of Denver, due 11-1-30
Comments
: This sale was negotiated by
Joe Hornstein, Scott Fetter & Eric Veith
of Pinnacle Real Estate Advisors LLC.
There are 17 off-street parking spaces. The
rents are $751 for the one-bedroom units
and $874 for the two-bedroom units. The
expenses are estimated to be $3,566 per
door, with 7.52% cap rate based on 5%
vacancy with no reserve expenses includ-
ed. Based on financing terms derived from
listing broker’s information, the cash-on-
cash return is 12.37%.
Property Location
: 2475 S. York St., Den-
ver
Property Description
: 9-unit, two-story
apartment, 4,500 sf, YOC 1957
Land Size
: 6,875 sf
Sales Price
: $1.08M, or $80,000 per door, or
$110.46 per sf
Closing Date
: 10/29
Reception No.
: 2015156690
Grantor
: Campus Apartments LLC, Lam-
bros Gianos, mbr.
Grantee
: 2725 Monroe Street LLC, Arend
Accola, mgr., 5777 E. Evans, Unit 1, Den-
ver 80222, c/o Compass Management,
303-747-4782
Comments
: Property was listed and sold
by Joe Hornstein and Scott Fetter of Pin-
nacle Real Estate Advisors LLC. Buyer
acquired 18-unit apartment buildings
located at 2725 Monroe St. in June for
$1.99M. See Reception No. 2015083657.
Douglas County
Property Location
: Vic. of Gartrell Road &
north side of Inspiration Drive, Rocking-
horse Parkway, Aurora
Property Description
: 211 platted lots
totaling 52.01 acres, 52.34 acres of open
space & 545.73 acres of unplatted land for
a total of 1,891 dwelling units
Land Size
: 654 acres
Sales Price
: $39M, or $37,554 per acre, or
20,624 per dwelling unit
Closing Date
: 3/31
Reception No.
: 20150021265
Grantor
: WS RSA Development, c/o
Wheelock Street Capital, Jeffrey S. Lalib-
erte, managing director of acquisitions,
203-413-7700, Greenwich CT 06830
Grantee
: Nash Inspirational LLC by:
North America Sekisui House, Satoshi
Yoshimura, pres., by: Newland Real Estate
Group, Alan F. Bauer, VP
Comments
: Covenants are for 55 and
older housing with 30 7,200-sf avg.
detached SF lots. Density per community
is as follows: 167 single-family detached
lots on 55.8 acres, or 2.99 units per acre;
414 SFD lots on 115.4 acres, or 3.59 units
per acre; 144 SFD lots on 41.8 acres, or 3.44
units per acre; 141 SFD lots on 48.4 acres.,
or 2.91 units per acre; 120 SFD lots on 45.3
acre, or 2.65 units per acre; 73 SFD lots on
31.8 acres, or 2.3 units per acre; 111 SFD
lots on 51.5 acres, or 2.15 units per acre.
The dedicated school area is 12.8 acres and
the 9,200-sf recreation building is on 12.28
acres.
Property Location
: 22807 E. Bailey Circle,
vic. of southwest/south Gartrell Road &
Rockinghorse Parkway intersection, Auro-
ra
Property Description
: 123 vacant lots
Land Size
: 23.51 acres
Sales Price
: $12.19M, or $99,077 per lot, or
$11.90 per sf
Closing Date
: 11/13
Reception No.
: 2015082313
Grantor
: Nash Inspirational LLCby: New-
land Real Estate Group, Alan F. Bauer, VP
Grantee
: Toll CO II LP, Mark Bailey, divi-
sion president, 855-289-8656
Comments
: These lots are fully platted,
entitled and finished except for tap fees.
See related sale in March 2015 for $39 mil-
lion, 2015021265.
Property Location
: 1340 New Beale St.,
Castle Rock
Property Description
: ground lease
Land Size
: 1.29 acres
Sales Price
: $1.69M
Closing Date
: 11/5
Reception No.
: 2015080671
Grantor
: Purple Rock Cress LLC, by:
Promenade Castle Rock, c/o Alberta
Development, Donald G. Provost, mgr.
Grantee
: HZ Props RE Ltd., Amin Dha-
nani, mgr.
Comments
: Buyer plans to develop Pop-
eyes Restaurant. The buyer representa-
tive was Scott Nannemann of Waldera
Scott Real Estate Partners, 303-780-7777.
This is a ground lease and was listed at
$1.8M, or a 5% cap rate, by Marcus &
Millichap's Net Lease Advisory Group.
The brokers included are Jamie Medress
& Mark Ruble in the Phoenix office &
Richard Bird of the Denver office. The
building is a 2,844-sf Popeyes restaurant
and is under construction as of Nov. 19.
The lease is 10 years with four five-year
increases with a 10% increase each five
years. The in-place cap rate is 5.3%. The
guaranty is by Z&H Foods Inc., operating
165 Popeyes locations in Texas, Colorado,
Arizona and Utah.
Jefferson County
Property Location
: 143 Union Blvd., Lake-
wood, “One Union Square”
Property Description
: 184,460-sf, 10-story
office building, YOC 1981, precast concrete
panel construction
Land Size
: 8.17 acres
Sales Price
: $30.87M, or $167.34 per sf
Closing Date
: 11/10
Reception No.
: 2015120269
Grantor
: BRCP 143 Union LLC, c/o
Broadreach Capital, John A. Foster, man-
aging director, 650-331-2500, Palo Alto CA
Grantee
: GPI-Union LP, Paul Bennett,
director of acquisitions, 972-731-2300,
5601 Granite Parkway, Suite 800, Plano
TX 75024
Comments
: Seller’s Colorado contact is
Philip “Flip" Maritz, located in Edwards,
970-688-4220. This property sold in July
2007 for $25.9M. Wells Fargo Bank is
anchor tenant.
Property Location
: 6201 W. 26th Ave.,
Wheat Ridge, “Terra Village”
Property Description
: 402-unit garden
style three-story apartment complex w/22
buildings, 339,260 net rentable sf, YOC
1971, brick veneer construction
Land Size
: 14.6 acres
Sales Price
: $47M, or $116,915 per unit &
$138.54 per sf
Closing Date
: 11/6
Reception No.
: 2015119303
Grantor
: Kinnickinnic Realty Co., William
S. Shanahan, mgr.
Grantee
: Trees Holding Company II & III,
LLC, William B. Nivens, mgr.
Comments
: There are six models: a one-
bed/one-bath @ 610 sf, which rents for
$915-945/mo; another one-bed/one-bath
@ 650 sf, renting for $935-965/mo.; a
two-bed/one-bath @ 860 sf, renting for
$1,160-$1,185/mo.; a two-bed/1.5-bath @
950 sf, renting for $1,210-$1,245 per unit;
a three-bed/two-bath @ 1,050 sf, rent-
ing for $1,345-$1,370 per month; and a
three-bed/two-bath @ 1,150 sf, renting
for $1,445-$1,470 per month. CBRE Inc.
apartment team sold this property, David
Potarf, Daniel Woodward, Matt Barnett
& Jake Young. According to the listing
broker’s website, the NOI was $2.54M,
with expenses at $5,984 per unit. See APN
39-253-00-011, 012.
Property Location
: SECWest 29thAvenue
& Kendall Street, Wheat Ridge
Property Description
: Vacant land
Land Size
: 212,070 sf, or 4.87 acres
Sales Price
: $3.4M, or $16.03 per sf
Closing Date
: 11/6
Reception No.
: 2015119274
Grantor
: Kinnickinnic Realty Co., William
S. Shanahan, mgr.
Grantee
: Trees Holding Company II & III,
LLC, William B. Nivens, mgr.
Comments
: See adjoining sale of 6201 W.
26th Ave. of $47M, containing 402 units
with 14.7 acres of land.
Property Location
: 2009-2099 Wadsworth
Blvd., “Parkridge Shopping Center”
Property Description
: 61,832-sf retail
building, YOC 1979, masonry & metal
const.
Land Size
: 4.06 acres
Sales Price
: $6.3M, or $101.89 per sf
Closing Date
: 11/6
Reception No.
: 2015119861
Grantor
: Parkridge LLC, Bruce Prior, mgr.
Grantee
: Lawrence & Judith Chavez, 4600
W. Evans, Denver 80219
Comments
: The transaction was handled
byMatt Ritter and Jeff Johnson of Pinnacle
Real Estate Advisors LLC and sold on
a 7.67% going-in cap rate based on 93%
occupancy. Property is near a light-rail
station.
Property Location
: 608-610 Garrison St.,
Lakewood, “Garrison Business Park”
Property Description
: 25,075-sf (Build-
ing 1) industrial/flex building & 24,965 sf
(Building 2), total of 50,040 sf, YOC 1984,
concrete
Land Size
: 4.43 acres
Sales Price
: $5.35M, or $106.91 per sf
Closing Date
: 11/11
Reception No.
: 20151203033
Grantor
: Eaton Drugstore LLC, et al., c/o
Real Capital Solutions, Sharon K. Eshima,
CFO, 303-466-2500, or Graham Riley, VP-
real estate
Grantee
: 25 Ramland Road LLC, Howard
Dean, mgr., 914-631-3000
Financing
: $3.48M payable to EverBank,
Jacksonville FL 32202, due 12-1-25
Comments
: Buyer is based out of Tar-
rytown NY 10591 and is an attorney and
CEO of DY-Co Management, a commer-
cial real estate firm. His website is www.
howarddeanproperties.com, and he owns
five industrial properties in the Denver
metro area. The last brochure researched
on this property was by Colliers Inter-
national, T.J. Smith, SIOR, 303-283-4576,
& Matt Keyerleber. The building has 15’
ceiling height and 10x10’ drive-in doors.
Lease rates are quoted at $9.50-$12 per sf
triple net. The property last sold on 9-19-12
for $3.8M.
Property Location
: 7125W. JeffersonAve.,
Lakewood, “Linpro Center I”
Property Description
: 99,992-sf, four-story
office building, YOC 1982, precast concrete
panel construction
Land Size
: 6.66 acres
Sales Price
: $5.13M, or $51.25 per sf
Closing Date
: 11/3
Reception No.
: 2015118177
Grantor
: MIREF Linpro Center LLC, c/o
McMorgan Co. Brian Morton, managing
partner
Grantee
: 7125 West Jefferson LLC, c/o
AmTrust Financial Services Inc., Ariel
Aber, director of real estate, 59 Maiden
Lane, 43rd Floor, NYC NY 10038, 212-220-
7120
Comments
: The buyer is a NASDAQ
company trading under AFSI. The prop-
erty sold in September 2002 for $7.79M.
Property Location
: 2010 Youngfield St.,
Wheat Ridge, “Applewood Shopping
Center”
Property Description
: 10,080-sf strip cen-
ter, YOC 1958, renovated in 2015, masonry
construction.
Land Size
: 38,310 sf
Sales Price
: $2M, or $198.41 per sf
Closing Date
: 11/12
Reception No.
: 20151121441
Grantor
: Highland Properties 4315 LLC
Grantee
: Carol Peck Living Trust, Carol Jo
Peck, trustee, et al.
Financing
: $2.03M @ 4.25% payable to
FirstBank
Comments
: This sale is a 1031 exchange.
The transaction was handled by Matt Rit-
ter, Jeff Johnson & Justin Krieger of Pin-
nacle Real Estate Advisors.
Property Location
: 12157- 12177W. Cedar
Drive, Lakewood
Property Description
: 13,216-sf, two-story
office building, YOC 1978, brick construc-
tion with additional 34,745-sf corner lot
included.
Land Size
: 69,995 sf
Sales Price
: $1.85M, or $139.98 per sf
Closing Date
: 11/9
Reception No.
: 20151203395
Grantor
: Terrace Point Partnership (owns
12177 W. Cedar Drive) & Adler Point
LLC (owns 12157 W. Cedar Drive), Daryll
Propp is manager of both LLCs.
Grantee
: Lakewood Housing Authority*,
Tami J Fischer, ex. dir., 303-987-7892
Financing
: $1.11M payable to Citywide
Banks
Comments
: *Metro West Housing Solu-
tions was formed in 1974 as the Lakewood
Housing Authority, 303-987-7580. Charles
Arnold, 303-888-2103, in cooperation with
Propp Realty, 303-233-4000, handled the
transaction. The building address is 12157
W. Cedar Drive.
Property Location
: 16360 Table Mountain
Parkway, Golden
Property Description
: 13,242-sf manufac-
turing/warehouse building, YOC 2007
Land Size
: 3.22 acres
Sales Price
: $1.65M, or $124.60 per sf
Closing Date
: 11/5
Reception No.
: 20151203033
Grantor
: Alternative Energy Properties
LLC, Dale R. Hill, mgr.
Grantee
: SKS Ventures, David Kloos,
mgr., 303-993-3293
Comments
: Buyer is principal with the
tenant, Centerline Solutions.
Property Location
: 11645 W. Belleview
Ave. (north side of West Belleview Ave-
nue, approx. 300’ west of South Simms
Street, Littleton
Property Description
: Vacant land, plans
for self-storage development
Land Size
: 2.56 acres
Sales Price
: $1.45M, or $13 per sf
Closing Date
: 11/13
Reception No.
: 2015121479
Grantor
: Blue Wing Storage Partners LP,
Peter Shaw, mgr.
Grantee
: WSP BellSimms Manager LLC,
Scott Wyckoff, pres., American Fork UT
Comments
: Seller rezoned the property
this year to PD-self-storage. Buyer con-
tact is Wasatch Storage Partners, 801-692-
1474,
.
The team consists of Bret Durfee, CEO,
Scott Wyckoff, president, & Dane Smith,
senior financial analyst. Property sold for
$553,000, or $4.96 per sf, on 3-17-15.
Property Location
: 7509 Grandview
Drive, Arvada
Property Description
: 2,532-sf retail build-
ing, brick construction, YOC 1925
Land Size
: 2,532 sf
Sales Price
: $1.07M, or $421.41 per sf
Closing Date
: 11/12
Reception No.
: 2015121374
Grantor
: 7509 Grandview LLC, C. Paul
Yantorno*, mgr., 303-288-4201
Grantee
: Manwaring Properties, Robert T.
Manwaring, mgr.
Financing
: $727,500 payable to Bellco
Credit Union
Comments
: Rob Edwards, 303-962-9557,
& Tom Ethington, 303-962-9538, of Pin-
nacle Real Estate Advisors handled the
transaction. The tenant, Silver Vines Win-
ery, has a 10-year, triple-net lease with
3% annual increases. The in-place cap
rate is 6.56%, not calculating vacancy and
reserves. The property is located across
the street from the Olde Town Arvada
light-rail sation. *Yantorno is president of
Center Land Co. The most current data on
the buyer indicates he is director of public
works for the city of Arvada, 720-898-7601
or
.
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
reached at 720-612-7878
or Colprop2012@gmail.
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
