September 21-October 4, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 13
Senior Housing & Care
by John Rebchook
Cherry Hills Assisted Living
and Memory Care, a boutique
retirement community at 6325 S.
University Blvd., will open next
year.
It will specialize in assisted
living and memory care for resi-
dents living with cognitive dis-
abilities.
Longtime development and
management companies Urban
Inc. and Esprit Homes, led by
Steve Shraiberg andAlfred Blum,
are developing the project.
Since 1973, Urban Inc. has been
developing, financing, building,
marketing and managing real
estate – residential, commercial,
retail, mixed-use, senior, public
and private developments.
The development will include
state-of-the-art services, designs
and amenities – all built within
deKoevend Park and adjacent to
Goodson Recreation Center in
Centennial.
The 85-unit facility will offer
studios, and one-bedroom and
two-bedroom apartments rang-
ing from 376 square feet to 1,024
sf.
Staff will be on site 24 hours a
day, advanced optional resident-
centered technology services will
be available to every resident and
a full-time licensed nurse will be
available on site.
Lantz-Boggio
Architects
designed the center. “We are
thrilled to introduce CHAL for
seniors and their families looking
for a boutique and modern com-
munity offering the highest qual-
ity in services and amenities,”
said Greg Wrench, principal/
developer at CHAL and Urban
Inc./Esprit Homes.
“With our incredible location
and surroundings as well as
high-end services and care, this
community is sure to provide a
compelling option for local and
national seniors and families
alike,” Wrench said.
Amenities will include a bistro,
a spa and salon, a high-tech the-
ater, daily laundry services and
housekeeping, transportation,
community gardens and trails,
private storage, free cable, direct
access to the Goodson Recreation
Center and deKoevend Park,
ample parking, an open two-sto-
ry atrium in the lobby and social
areas, expansive views of the sur-
rounding park, and nearby shop-
ping and restaurants. The com-
munity will offer daily activities,
including exercise classes, educa-
tional classes, gardening, movie
nights, theme nights and much
more.
The full-service dining room
offers breakfast, lunch and din-
ner menu items created by the
in-house executive chef and staff.
“CHAL is a project born out
of the need for superior assisted
living and memory care options,
with the added benefit of being
located within deKoevend Park
and adjacent to the communi-
ties of Centennial, Cherry Hills
and Greenwood Village,” said
Chris Hines, principal/developer
at CHAL and Urban Inc./Esprit
Homes.
“With grocery stores likeWhole
Foods and Trader Joe's located
nearby, as well as restaurants,
shopping and walking trails, we
know our residents and their
families will love the location and
community,” according Hines.
s
Cherry Hills Assisted Living and Memory Care opens early next year.
deals,” said Bowen. “We want
to do deals that are natural,
that make sense for our port-
folio.”
For DCT Industrial Trust,
that means being close to the
urban core. “That’s our focus
in all of our markets, includ-
ing Denver,” said Melissa
Sachs, vice president of cor-
porate communications and
investor relations.
“Denver’s thriving econo-
my and population growth
have created one of the stron-
gest distribution markets in
the country, creating a greater
need for more well-located,
state-of-the-art distribution
buildings,” said Bowen. “DCT
Summit Distribution Center
is perfectly located to address
this need and is being devel-
oped the satisfy the require-
ments of today’s sophisticated
tenant.”
Asking rates for space in the
building will be in the high
$5s per sf triple net. Construc-
tion will take approximately
seven months.
s
DCT
“It was less than a value-add
deal, given that most of the
units already were upgraded,”
although there are still value-
add opportunities with the units
not renovated, said Jordan Rob-
bins, who listed and marketed
the property with fellow HFF
broker Jeff Haag.
Properties on the west side
are always sought after, he said.
“Investors really like the west
side,” Robbins said.
“There isn’t much land to
develop, so that limits the
amount of new development,”
which would compete with
older communities, he said.
At the same time, there are
not enough units in Lakewood,
Golden, Wheat Ridge and
Arvada to meet demand from
renters, he noted.
The entire Jefferson Coun-
ty area benefits from strong
employers such as Lockheed
Martin, MillerCoors, CoorsTek
and Ball Corp., he noted, as
well as its proximity to Denver
and the mountains.
“If you live on the west side,
you are that much closer to
getting away to the mountains,
but you are also very close to
downtown Denver,” Robbins
noted.
He agreed that Jackson
Square is bullish on Denver.
“They’ve sold some of their
older properties while buying
others; Jackson Square really
likes Denver.”
s
Jackson Square
Jackson Square paid $68 million for Skye Crest in Lakewood.
looking to recruit and retain
top talent.”
One Belleview Station was
designed by Gensler’s Denver
studio and is being constructed
by Weitz. Front Range Land
and Development was the mas-
ter developer for the project.
Other News
n
Robinson Waters and
O’Dorisio,
a Denver-based law
firm that handles commercial
real estate transactions, restruc-
turings, finance, bond work
and related litigation, renewed
its lease for 21,031 square feet
at Granite Tower in downtown
Denver.
KBS Real Estate Investment
Trust II,
a nontraded real estate
investment trust, is the land-
lord.
“We look forward to continu-
ing our relationship with Rob-
inson Waters & O’Dorisio PC,”
said
Mark Brecheen,
senior
vice president at KBS and
asset manager for the property.
“Granite Tower’s prime loca-
tion provides tenants with a
24/7 live, work, play environ-
ment in the growing market
of Denver, and we believe that
the property’s on-site ameni-
ties and accessibility add to its
appeal.”
“Being located in proxim-
ity to our institutional finance
clients, both federal and state
courthouses and the Capitol
creates efficiencies,” said
John
W. O’Dorisio,
co-managing
shareholder of the 34-lawyer
firm.
Granite Tower is a Class A,
31-story office tower at 1099
18th St.
Pete Staab
and
Nathan John-
son
of
Newmark Grubb Knight
Frank
represented
KBS REIT II
in the transaction.
Garth Tait
of
Silverbrae Commercial Real-
ty Inc.
represented Robinson
Waters & O’Dorisio.
n
Robert W. Baird & Compa-
ny Inc.
renewed is lease at 210
University Blvd. in Denver in a
25,000-sf deal that included an
1,800-sf expansion.
The company will occupy
the entire seventh floor of the
building.
Pete Staab, Nathan Johnson
and
Tyler Johnson
of
Newmark
Grubb Knight Frank
represent-
ed the landlord,
Offices at Uni-
versity LLC. Ted Harris
of
Cush-
man & Wakefield
represented
the tenant.
s
One Belleview
ʻDenver’s thriving
economy and
population growth
have created one
of the strongest
distribution
markets in the
country.ʼ
– Mark Bowen,
DCT Industrial Trust
