December 16, 2015-January 5, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 21AA
resented the seller. The buyer plans to
construct 79 residential townhome units
in 14 buildings. The site has a height
limitation of three stories. The property
fronts the north side of East Iliff Avenue,
approx. 300’ east of South Colorado Bou-
levard, and also fronts the south side of
East Warren Avenue.
Property Location
: 1531 Market St.,
Denver
Property Description
: 4,930-sf, two-sto-
ry office with restaurant on first floor,
YOC 1883, brick construction
Land Size
: 6,613 sf
Sales Price
: $3.02M, or $612.58 per sf
Closing Date
: 11/30
Reception No
: 2015166120
Grantor
: KCM Market Street LLC, c/o
Kamins Capital Mgmt., Jon D. Kamins,
mgr.
Grantee
: Surf Cinco LLC, c/o Urban
Frontier, 1529 Market St., Suite 200, Den-
ver, Garrett Baum, 303-226-1266, or Bill
Branyan, 303-226-1260
Property Location
: 1200 Colorado Blvd.
& 4035 E. 12th Ave., Denver
Property Description
: 22-unit, three-sto-
ry apartment building w/13,430 sf, YOC
1950, brick construction
Land Size
: 18,800 sf
Sales Price
: $3M, or $136,364 per unit, or
$223.38 per sf
Closing Date
: 11/13
Reception No
: 2015159484
Grantor
: Charles & Connie Collins
Grantee
: 1200 Colorado LLC, Theodore
S. Halaby Jr., mgr., c/o Cypress Inv.
Financing
: $2.25M @ 3.88% ($7,275 per
month interest-only payments until
11-14-18, then payments of $10,586.77
until balloon date of 11-14-25), payable
to First American Bank, due 2-5-22
Property Location
: 3005-3015 E. 14th
Ave., Denver
Property Description
: 15-unit, three-sto-
ry apartment building w/13,430 sf, YOC
1950, brick construction
Land Size
: 18,800 sf
Sales Price
: $2.55M, or $170,000 per
door, or $268.42 per sf
Closing Date
: 11/10
Reception No
: 2015158985
Grantor
: 3005 East 14th Avenue LLC,
Minyoung Sohn, mgr., 303-398-2929
Grantee
: DLM Associates LLP, Daniel
Wolf, partner, & Clarkson Street Partners
LLC, Michael Blackman, partner, c/o
Brownstone Realty, 303-832-8155
Financing
: $1.23M payable to JPMorgan
Chase
Comments
: Seller is employed by
Arrowpoint Partners in Cherry Creek,
Denver. Property was listed by Jim
Knowlton of Pinnacle Real Estate Advi-
sors. There are two studios, nine one-
bed/one-baths & four two-bed/two-
bath units.
Property Location
: 1433 Jasmine St.,
Denver
Property Description
: 12-unit, single-
story apartment buildings, 12,416 sf,
YOC 1952, brick construction, plus a six-
car parking garage
Land Size
: 28,125 sf
Sales Price
: $2.4M, or $200,000 per door,
or $193.30 per sf
Closing Date
: 11/18
Reception No
: 2015161743
Grantor
: Timothy J. Page &Ann M. Page
Grantee
: Dickson Redevelopment LLC,
1491 S. Gaylord St., 80210-2340
Financing
: $1.4M payable to FirstBank,
due 12-1-25
Comments
: Buyer is investor/develop-
er Kevin T. Dickson, 720-435-5909. The
property was sold by Kevin Calame &
Matt Lewallen of Pinnacle Real Estate
Advisors LLC.
Property Location
: 2739 W. 24th Ave.,
Denver
Property Description
: Vacant multi-
family land
Land Size
: 17,850 sf
Sales Price
: $1.53M, or $85.85 per sf
Closing Date
: 11/24
Reception No
: 2015164585
Grantor
: Diamond Hill Condomini-
ums LLC, Michael D. Chesser, pres.,
7945 Vineyard Ave., Suite 105, Rancho
Cucamonga CA 91730, 866-604-4600
Grantee
: Easton Development LLC,
Richard Scott Easton, Franktown 80116
Comments
: George Bustamante, acqui-
sitions mgr.-grantor, 805-604-2640. Prop-
erty was listed and sold by Billy Riesing,
303-962-9544, of Pinnacle Real Estate
Advisors LLC.
Property Location
: 2865 S. Colorado
Blvd., Denver
Property Description
: Three-story,
14,583-sf office building, YOC 1972,
twin-tee construction
Land Size
: 17,751 sf
Sales Price
: $825,000, or $56.57 per sf
Closing Date
: 11/18
Reception No
: 2015161762
Grantor
: William F. Robinson III
Grantee
: 2865 S. Colorado Blvd., Ira J.
Lang, mgr.
Comments
: Sam Zaitz of Legend Realty,
720-529-2888, represented the Florida
investor, Ira J. Lang. Call Unique Proper-
ties for listing broker.
Douglas County
Property Location
: The Sterling Ranch
development transactions, vicin-
ity of Titan Road & Taylor River Circle,
Georgetown Street & Blue River Avenue
The Sterling Ranch Development
Company, with James L. Yates, presi-
dent of the company and based in
Highlands Ranch, completed five major
transactions involving fully platted lots
in Douglas County. The entire Sterling
Ranch Subdivision, Filing No. 1, con-
tains 324.58 acres with 660 residential
lots, seven superblock lots & 48 tracts.
All of the transactions closed 11-5-15.
The first deal, to Brookfield Residential
(Colorado) for $2.7 million, included
54 platted lots for $50,000 per lot. The
second transaction was to Lennar Colo-
rado LLC for the stated price of $3.87
million and included five multifamily
or townhome lots for $10 per sf. The
third transaction involved 68 platted lots
that sold to Meritage Homes of Colo-
rado for $3.74 million, or $55,000 per lot.
The fourth transaction involved selling
145 lots to Richmond American Homes
of Colorado Inc. for $7.25 million, or
$50,000 per lot. The fifth and final sale
in November included a $10.76M sale
containing 155 lots, or $69,439 per lot,
to Calatlantic Group. The total price of
the four transactions was $28.32M, with
an aggregate amount of 427 lots and an
average of $66,330 per lot.
Property Location
: 327 Inverness Drive
South, Englewood
Property Description
: 115,759-sf, three-
story office building, YOC 1997, concrete
& glass panel construction
Land Size
: 7.86 acres
Sales Price
: $9.8M, or $84.66 per sf
Closing Date
: 9/14
Reception No
: 2015067394
Grantor
: NNN Inverness Business Park
LLC et al., c/o Daymark RealtyAdvisors
Inc., Todd Mikles, corp. rep.
Grantee
: Inverness Owner, c/o High-
Brook, Robert Giusti, partner, 212-906-
3450, NYC 10019-5463
Comments
: Building size taken from
press release from HighBrook 9-14-
15, see
.
Douglas County assessor shows 118,838
sf. Property was listed for lease by Col-
liers International for $13.50 per sf tri-
ple net, with 2013 expenses of $5.56/sf,
exclusive of utilities and security.
Property Location
: 18 Wilcox St., Castle
Rock, “White Construction Building”
Property Description
: 17,170-sf (15,498
rentable sf), two-story office building
plus 3,739-sf covered parking area, struc-
tural steel framing & precast concrete
cornice and band, YOC 2005
Land Size
: 25,003 sf
Sales Price
: $4M, or $232.96 per sf (gross
building area but not covered parking)
Closing Date
: 11/16
Reception No
: 2015083094
Grantor
: 18 Wilcox LLC, Ernest F. Faze-
kas & James F. Folkestad, attorneys,
303-688-3045, & Timothy L. White, mgr.,
303-688-6924
Grantee
: Stone Holdings LLC, Michael
J. Prendergast, mgr., 720-344-9652
Financing
: $3 million payable to Wells
Fargo Bank NA
Comments
: Timothy L. White is presi-
dent of White Construction and is also
involved in Castle Rock EDC and Doug-
las County Board of Education. The
building was once a contaminated site
& White Construction Group worked
with Higgins and Associates to remedi-
ate the contamination by installation
of 16 monitoring wells and removed
the 150 years of contaminated soil. The
cost of construction was approximately
$1.8M and the building was completed
in November 2005. Matt Call & John
Witt of NavPoint Real Estate Group han-
dled the transaction. Mike Prendergast
is CEO & Paige Prendergast is president
of Vista Petroleum Services,
petroleum.com. Information about the
building was obtained from White Con-
struction Group website,
com.
Property Location
: 20 Wilcox St., Castle
Rock, “Castle Rock Liquor”
Property Description
: 4,000-sf retail
building, YOC 1993, masonry construc-
tion
Land Size
: 13,983 sf
Sales Price
: $750,000, or $187.50 per sf
Closing Date
: 11/18
Reception No
: 2015085569
Grantor
: Castle Rock Liquors & Wine
Inc., Hung N. Tran, pres.
Grantee
: TL and Sons LLC, Tony Tuan
Truong, mgr.
Financing
: $662,000, due 11-27-40, pay-
able to Hanmi Bank, SBA Loan, Los
Angeles CA
Comments
: Building was listed for
$600,000 and business was listed for
$400,000. Property was listed by Guild
Cherry Creek Ltd., Adrienne Tran, 303-
669-7035. Sales price may be misleading
as part of the consideration was attribut-
ed to the business. The trade name of the
business was transferred to the buyer.
Jefferson County
Property Location
: 5654 Kipling St.,
Arvada
Property Description
: 264-unit, three-
story, 10-building apartment com-
plex with 247,896 sf, YOC 2005, & 302
detached garages and 267 open parking
spaces
Land Size
: 13.53 acres
Sales Price
: $58.5M, or $221,590 per unit,
or $235.99 per sf
Closing Date
: 11/30
Reception No
: 2015126483
Grantor
: Panorama AR LLLP, Michael L.
Asher, mgr., 303-971-0018
Grantee
: Seagate Panorama Associates,
Mark B. Polite, mgr., 303-825-0660, c/o
Seagate Properties,
.
com, San Rafael CA 94901
Financing
: $37.1M payable to CBRE
Multifamily Capital Inc.
Comments
: Listed and sold byCBRE Inc.
multifamily team, Matt Barnett, 303-628-
7422, Jake Young, 303-628-7426, David
Potarf, 303-628-7414, & Dan Woodward,
303-628-7417. Brian Johnson is VP of
acquisitions for the buyer, 415-455-0300.
The unit mix includes 73 one-beds @ 772
sf that rent for $1.85-$1.92 per sf, 77 two-
bed/one-baths @ 892 sf that rent from
$1.95 to $2 per sf, 73 two-bed/two-bath
@ 1,034 sf that rent for $1.76-$1.81 per sf,
41 three-bed/two-baths @ 1,242 sf that
rent from $1.53 to $1.57 per sf. The aver-
age rental rate is $1,676, or $1.79 per sf.
Property Location
: 2009-2099 Wad-
sworth Blvd., “Parkridge Shopping Cen-
ter”
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
Financing
: Subject to $3.05M dated
11-18-2013, payable to FirstBank, due
12-10-23, originated by the grantor
Comments
: The transaction was han-
dled by Matt 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 the
light-rail station. See following sale for
1031 exchange located at 9975-9979 Wad-
sworth for the seller.
Property Location
: 9975-9979 Kipling
St., Westminster, “Stanley Shores Cen-
ter”
Property Description
: 74,582-sf shop-
ping center, YOC 1982, masonry con-
struction, 27,720-sf shopping center,
YOC 1983, total of 102,302 sf*, renovated
in 2012 with masonry construction.
Land Size
: 9.6 acres
Sales Price
: $10.46M, or $102.25 per sf
Closing Date
: 11/30
Reception No
: 2015127436
Grantor
: Standley Shores 01 LLC, c/o
ACF Property Management, Alan C.
Fox, pres., 818-505-6777
Grantee
: Parkridge LLC, Bruce Prior,
mgr.
Financing
: $7.32M @ 4.25% due 12-10-
25, payable to FirstBank
Comments
: Matt Ritter & Jeff Johnson of
Pinnacle Real Estate Advisors represent-
ed Bruce Prior (the buyer) in this sale.
Their press release indicated a slightly
different price of $10.34M, or $88.77 per
sf, indicating the center was 116,515 sf.
Jefferson County deed reflected a price
of $10.46M, or $102.25 per sf, with the
assessor’s office showing two buildings
containing a total of 102,302 sf. Press
release also indicates the Stanley Shores
Center (shadow-anchored by King Soop-
ers) was 75% occupied and included Ace
Hardware, Jump City and Silver Mine
Subs. See prior sale located at 2009 Wad-
sworth for the 1031 exchange.
Property Location
: 4251 Kipling St.,
Wheat Ridge
Property Description
: 77,581-sf, five-
story office building, YOC 1981, mason-
ry & glass construction
Land Size
: 3.24 acres
Sales Price
: $7.8M, or $100.54 per sf
Closing Date
: 11/18
Reception No
: 2015123989
Grantor
: New Clear Creek, Stuart C.
Ogilvie, pres., 303-864-9774
Grantee
: CPP Investments, Tucker Man-
lon, mgr., Golden Lake LLC, Huong Tina
Bui, mgr., & CRS Investments, Michael
Riley, mgr.
Financing
: $5.1M payable to Wells Fargo
Bank NA
Comments
: Tucker Manlon, 303-297-
3137, of Centre Point Properties handled
the transaction for the grantee and has a
7.5% interest in the property under CPP
Investments LLC. John Fairbairn, 303-
226-4764, of Fairbairn Commercial had
the “for lease” listing prior to closing.
Lease rates were quoted at $15-17 per sf
full service.
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
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
