March 2-March 15, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 19
Kitchen and Tots Restaurant.
“This sale represents the con-
tinuing demand for quality
investment properties in the
Boulder market,” said Jason
Koch, vice president of Unique
Apartment Group. “LOTH has
a predictable and stable cash
flow, is always fully leased and
will continue to achieve pre-
mium rental rates.”
Records show University Hill
Partners LLC sold the property
to Clifford Brown, Jason W.
Hebb, Bradley Brown and Hill
Portfolio LLC.
Unique Apartment Group
said it sold the property, pre-
viously listed by two national
brokerage firms, within a five-
month period. It received mul-
tiple offers.
The recent addition of the
retail tenants and an increase
in apartment rental rates were
instrumental in attracting
investors to the property, as
was the property’s “excellent”
condition and proximity to the
University of Colorado cam-
pus, UAG said.
Lofts on the Hill was con-
structed in 2011.
s
Lofts
Lofts on the Hill is a student housing building with retail at the street level.
and the speculative industrial
projects that have been built this
cycle are primarily designed for
large tenants,” said Erik Abra-
hamson, senior associate in
CBRE’s Industrial & Logistics
Services group.
“Summit at Colorado Tech-
nology Center will deliver
much-needed, modern small-
bay industrial and flex space
while allowing users to stay
in Boulder County and enjoy
all the benefits of new, high-
quality Class A construction.”
The project will house as
many as five tenants in spaces
featuring 24-foot-clear ceilings,
dock-high and drive-in doors,
ESFR fire sprinklers, and front
and rear parking with three
spaces per 1,000 sf. Comunale
Properties, a family owned
commercial real estate invest-
ment, management and devel-
opment company, expects to
break ground on the project in
early summer.
“We are excited to get under-
way with Summit at CTC cater-
ing to smaller users that need
modern Class A construction to
efficiently run their businesses,
which hasn’t been available in
the greater Denver and Boul-
der markets,” said Comunale
President and Managing Part-
ner John Comunale.
“The vast majority of new
construction this cycle has been
geared toward larger users in
excess of 100,000 square feet,
with 50,000-square-foot bays
being some of the smallest
we’ve seen. The core of our
business is focused on the
10,000- to 25,000-square-foot
user, and this is a niche we
think will be well received in
the Colorado Technology Cen-
ter,” he said.
The project represents the lat-
est development in Comunale’s
1 million-sf portfolio. The com-
pany has an additional 3.6-acre
site under contract for a second
phase of 40,000 sf – either as
spec product or for a build-to-
suit.
The Colorado Tech Center,
which is home to more than
90 companies, is located at the
northeast corner of Dillon Road
and South 96th Street.
“The CTC is a strategic loca-
tion, as evidenced by its current
2 percent vacancy, especially for
manufacturing, research and
development, technology and
warehouse users,” said Tyler
Carner, senior vice president
in CBRE Industrial & Logistics
Services. “The park is minutes
from U.S. 36 and E-470, and
its central location draws from
both the Boulder and Denver
labor pools.”
The Regional Transportation
District’s Call-n-Ride provides
direct access between CTC
buildings and U.S. Highway 36
as well as the McCaslin Park-n-
Ride station.
Abrahamson, Carner, and
CBRE’s Jeremy Kroner and Jer-
emy Ballenger are the leasing
agents for Summit at Colorado
Technology Center. Powers
Brown Architecture is design-
ing the project, and Lakewood-
based Alcorn Construction is
the general contractor.
s
Summit
‘This sale
represents the
continuing
demand
for quality
investment
properties in the
Boulder market,”
– Jason Koch,
Unique Apartment Group
