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COLORADO REAL ESTATE JOURNAL
— January 6-January 19, 2016
Greater Denver
leased, with leases signed, since
July,” said Danielsen.
Danielsen, who developed the
Rail Yard Lofts in RiNo, handled
all the leasing, starting with an
ad on Craigslist that elicited a
call from the cidery’s owner. He
originally wanted 4,000 sf in The
Juicebox, but Danielsen wouldn’t
divide the building to that level.
A few days later he called back
and said, “I think I have a way to
take the whole thing.”
Danielsen said what has hap-
pened in River North is much as
her dad, Nick Siegel, predicted
in the 1980s, when he used to
attend Upper Larimer Neigh-
borhood Association meetings.
“People would just laugh at
him,” Danielsen recalled.
At that time, and for years
thereafter, the neighborhood
“was scary,” she said.
“I would never leave after
dark without a really big man
walking me out the door to my
car,” said Danielsen, who lights
up at the neighborhood’s trans-
formation.
“It’s fun, dynamic, energetic. It
just has the right vibe, and every
day it changes,” she said.
s
Bindery
Sonia and Barry Danielsen
The printing plant in 1979
for many years, sold the property.
“This is a really good base
building. It has been under
common ownership for a long
time – very well maintained,
a loyal tenant base,” said Jugl.
It’s also on the small side for
a Denver CBD office building,
which provided an entry point
for many of the investors that
considered the property. “The
challenge in Denver is you
have large towers trading – it
requires a significant amount
of capital,” Jugl said.
LIC US Growth Fund, likely
to reach $300 million, is a diver-
sified fund focused on acquir-
ing assets in markets with
strong growth characteristics.
Its strategy is to buy predom-
inantly office and multifam-
ily properties with potential
to grow their revenue streams
and value over the hold period,
said Horan.
Leon McBroon and John
Rose of HFF arranged financ-
ing for the transaction. Lincoln
Property Co. will manage and
lease 475 Seventeenth Street for
Phoenix Property Co.
“We have had a longstanding
relationship with them, and
their client is a firm believer
in Denver,” said Lincoln Prop-
erty Co. Director of Manage-
ment Services Gregg Barker.
“We think long-term it will be
a good investment.”
Lincoln Property’s Scott
Caldwell and Mark Homlish
will handle leasing.
s
site of today.
No broker was involved in the
sale, according toAndy Hellman,
a broker with ARANewmark.
“I think the Golden Triangle
is just a great submarket,” Hell-
man said.
“It is kind of like the Capitol
Hill area, where you pay less to
rent there than you would for
the newer product around Union
Station,” he said.
The Golden Triangle, which
has a walkability score of 93, is
increasingly becoming a trendy
destination for millennials,
according to Hellman.
“We are seeing some really neat
restaurants and bars opening in
the Golden Triangle,” he said.
The area also benefits from its
proximity to downtown and cul-
tural amenities such as the Den-
ver Art Museum and the Denver
Public Library, he said.
“You’re also very close to Cher-
ry Creek,” Hellman said. “Really,
it’s only a five-minute drive to
Cherry Creek.”
While the Boulevard sale is the
high-water mark for the Golden
Triangle, it is unlikely to hold that
title for long.
“There are a number of jewels
of buildings, really beautiful com-
munities, under construction or
planned in the Golden Triangle,”
Hellman said.
s
Downtown
Simpson
