Colorado Real Estate Journal - December 17, 2014
The Winslow Report
Arapahoe County
Property Location: 8350 E. Crescent Ave., Greenwood Village, “Crescent VIII” Property Description: 82,320-sf, 4-story office building, YOC 1996; 119,934-sf parking structure, concrete reinforced, YOC 1982 Land Size: 6.72 acres Sales Price: $17.25M, or $136.69 per sf Closing Date: 11/3 Grantor: KBSII Crescent VIII, LLC c/o KBS Capital Advisors (Charles J. Schreiber Jr., CEO), 620 Newport Center Drive, Ste.
1300, Newport Beach, CA 92660, 949-417- 6500 Grantee: American National Insurance Co., 2525 S. Shore Blvd., Ste. 207, League City, TX 77573 Land-to-Building Ratio: 1.71: 1 Financing: $21M payable to ACRC Lender LLC c/o Ares Commercial Real Estate Comments: There is a 19-stall subterranean structure plus 310 surface spaces (46 of which are protected under detached carport structures).
Arapahoe Couny
Property Location: 7025 S. Revere Pkwy., Centennial
Property Description: 59,270-sf warehouse (Revere Distribution Center), with 40% finished office space, concrete panel, YOC 1997
Land Size: 4.19 acres Sales Price: $6.15M, or $103.72 per sf
Closing Date: 11/20 Grantor: GCCFC 2005-GG5 South Revere Industrial c/o LNR Partners LLC, 1601 Washington Ave., Ste. 700, Miami Beach, FL 33139 Grantee: Exeter 7025 South Revere LLC, 140 West Germantown Pike, Ste. 150, Plymouth Meeting, PA 19462 Comments: Property was listed by Transwestern and had a starting bid of $1.8M.There are 114 surface parking spaces. County assessor shows 61,668 sf. A public trustee’s deed was recorded 8/15/2012
Property Location: 4747 S. Santa Fe, Englewood, “A World of Tile Building”
Property Description: 13,978-sf retail building, YOC 1997 Land Size: 43,193 sf
Sales Price: $2.25M, or $160.97 per sf Closing Date: 11/21 Land-to-Building Ratio: 3.09:1 Grantor: Lonmen and Maloney LLC (Larry E. Lonmen, mgr.)
Grantee: ACP WOT LLC 4950 S. Yosemite St., F2 #112, Greenwood Village, CO 80111 c/o JDC Holdings LLC (James D. Cochran, mgr.)
Financing: $4.65M (encumbers 3 properties) due December 2017, payable to Standard Insurance Co., 19225 NW Tanasbourne Drive, Hillsboro, OR 97124
Comments: Single-tenant building, other properties encumbered include 5740 E. County Line Place, which sold for $2.55M, or $149.53 per sf, in Highlands Ranch; 6121 N. Academy Blvd., Colorado Springs, which sold for $1.1M and contains 18,080 sf, including main ground-level leased to A World of Tile since 2002 and the lower level is leased as warehouse space to a tire distributor. This property was part of a $5.9M package of three buildings that totaled a 10.26% going-in cap rate.
Property Location: 501 W. Hampden Ave. NWC Elati St. & W. Hampden Ave.)
Property Description: 7,690-sf bank building, 24 parking spaces, YOC 1968
Land Size: 22,521 sf
Sales Price: $1.7M, or $221.07 per sf (improvements or $75.49 per sf land value)
Closing Date: 11/20 Grantor: Bank of the West, merger to Republic National Bank of Englewood, 180 Montgomery St., 22nd floor, San Francisco, CA 94104, attn: John Thomason, EVP Grantee: Drake 501 West Hampden Partners c/o Drake Real Estate Services Inc., 496 S. Broadway, Denver CO 80209, attn: Jonathan W. Power Financing: $2.79M payable to Citywide Banks, Aurora, CO*
Comments: Loan officers were Rob Crosby and Brian Hickey at Citywide Bank, 10637 E. Briarwood Circle, Englewood, CO 80112 (construction loan). Listing brokers were Frank Griffin, 303-260-4345, and Roger Simpson, 303-260-4366, of Newmark Grubb Knight Frank.
Property Location: 3420 S. Tower Road, Aurora Property
Description: 2,100-sf, 3-bay auto express lube, block/brick, YOC 1998 Land Size: 37,468 sf
Sales Price: $975,000, or $26.02 per sf (land value)
Closing Date: 11/13 Grantor: Donavon D. Leeder Inc.
Grantee: EVC South Aurora LLC 3501 SW Fairlawn, Ste. 200, Topeka, KS 66614 Financing: $4.33M due 6/1/16, payable to CoreFirst Bank & Trust
Comments: Buyer is Equity Ventures Commercial Development, Mark McPherson, 720-520-5190 or 785-925-1027.
Property Location: 3440 S. Tower Road, Aurora
Property Description: 2,100-sf, 3 bay auto express lube, block/brick, YOC 1998
Land Size: 20,463 sf Sales Price: $750,000, or $36.65 per sf
Closing Date: 11/24 Grantor: Edward J. Cuce Inc.
Grantee: EVC South Aurora LLC 3501 SW Fairlawn, Ste. 200, Topeka, KS 66614
Financing: $4.37M due 6/1/16, payable to CoreFirst Bank & Trust Comments:
Buyer is Equity Ventures Commercial Development, Mark McPherson, 720-520-5190 or 785-925-1027.
Grantee is planning to build a Vitamin Cottage retail grocery store on this site and part of the adjoining site.
Adams County
Property Location: 14770 Orchard Road, Westminster, “Arbour Square”
Property Description: 300-unit, 4-story, 310,829-sf (net rentable) apt. complex, YOC 2011; plus 102,922-sf parking garages Land Size: 6.65 acres Sales Price: $65.25M, or $217,500 per unit, or $223.43 per sf Closing Date: 11/25
Grantor: OTC MF LLC (McWhinney Real Estate Services, Chad McWhinney, CEO, and Julie Den Herder, COO) 720-360-4700
Grantee: Westminster Multifamily DST (Joseph E. Binder, VP – Acquisitions, and Mark J. Cosenza, 630-218-4946 c/o Inland Real Estate Acquisitions Inc.)
Financing: Buyer executed $35.78M payable to PNC Bank Units per acre: 45.1 per acre Comments: There are studios @ 509 sf; 1-bed/1-bath @ 638 to 840 sf; and 2-bed/2- bath @ 900 to 1,213 sf. Listing broker was Chad McWhinney of McWhinney Real Estate Services Inc.
Property Location: 7243-7353-7387 Federal Blvd., “Westminster Plaza”
Property Description: 97,013-sf Safewayanchored shopping center, YOC 1999 Land Size: 13.72 acres
Sales Price: $12.7M, or $130.91 per sf
Closing Date: 11/18 Grantor: WRI/Miller Westminster I LLC Grantee: Suso 4 Westminster LP c/o Slate Retail REIT, Thomas Farley, Chairman 416-644-4264, Toronto, Ontario, Canada Land-to-Building Ratio: 6.16: 1
Comments: Safeway store contains 57,116 sf and was constructed in 1999; it is situated on 5.81 acres. Additional space consists of 29,025 sf, YOC 1999; 5,782-sf O'Reilly’s Auto Parts freestanding store, YOC 1989; and 5,090-sf strip center, YOC 1999. All situated on 7.9 acres.
Property Location: 1485 E. 61st Ave., Denver Property Description: 189,210-sf warehouse, 24’ clear, 16 dock-high loading doors, cooler and freezer, YOC 1969 Land Size: 13.81 acres Sales Price: $10M, or $52.85 per sf Closing Date: 11/3 Grantor: JKL Land Holding LLC (Kenneth C. Landers, mgr.) Grantee: CO14 Denver LLC c/o Gladstone Commercial Corp, 1521 Westbranch Drive, Ste. 100, McLean, VA 22102, 703- 287-5853, Robert Cutlip Jr., and Andrew White, director Land-to-Building Ratio: 3.18: 1 Comments: Property was fully leased through December 2024 to Premium Pet Health LLC, a division of Smithfield Foods. The property is a manufacturer and distribution center for the company.
Tyler Carner, et al., CBRE, brokered the transaction.
Property Location: 1 Hunter Douglas Circle, Thornton
Property Description: 116,363-sf Industrial flex space, 5 dock-high doors, (18,000-sf office space on two floors), backup generator, YOC 2003 Land Size: 10.45 acres Sales Price: $7.15M, or $61.45 per sf
Closing Date: 10/29 Grantor: Hunter Douglas Specialty Products Inc. (Richard C. Gottuso, VP)
Grantee: National Energy Services and Investments, 1275 W. 124th Ave., Westminster, CO 80234, attn: Orville Fleming and Albert Fisher, 303-428-6969 Land-to-Building Ratio: 3.18: 1 Financing: $6.9M payable to Vectra Bank Colorado, NA, due 10/27/19
Comments: Company is based out of Thornton and was founded in 1975. It is also referred to as Northern Electric Inc. Property was listed by Chad Kollar, Bill Baldwin and John Brady of Cresa Inc., 303- 228-0800 or www.cresa.com.
Property Location: 16565 E. 33rd Dr., Aurora
Property Description: 28,000-sf auto dealership, YOC 2000 Land Size: 2.94 acres Sales Price: $4.9M, or $175 per sf
Closing Date: 10/29
Grantor: R-Koop Investments LLC (Ray Cooper, mgr.) Mile High Harley-Davidson
Grantee: CAR BIS CO AURA LLC 8270 Greensboro Drive, Ste. 950, McLean, VA 22102 Land-to-Building Ratio: 4.57: 1
Comments: Willie Beck is director of acquisitions and can be reached at 703- 394-1323 or wbeck@capitalautomotive.com. The buyer typically does a saleleaseback with the dealer on site. Seller can be reached at 303-343-3300.
Property Location: 6425 N. Washington St., Denver
Property Description: 81,120-sf multitenant warehouse, fractured-block const., drive-in doors (10’ x 14’), YOC 1983
Land Size: 4.04 acres Sales Price: $4.85M, or $59.79 per sf Closing Date: 10/24 Grantor: New N. Washington LLC (Christopher P. King, mgr.) 303-796-8288
Grantee: Denver North Washington LLC, 51 University Ave., Ste. G, Los Gatos, CA 95030, c/o Glen Una Management Co. (Kenneth Levy, mgr.) 415-503-4048 Financing: $3.62M (74.5% LTV) payable to Jefferies Loancore LLC Land-to-Building Ratio: 2.17: 1
Comments: Justin Lutgen, 720-528-3349, is director of acquisitions for the seller, jlutgen@dpccompanies.com. Property was listed for sale by T.J. Smith and Dave Hazlett of Colliers International, 303-745- 5800. 3,500 sf was listed for lease (as per last brochure) for $4.85 per sf NNN with CAM charge of $1.85 per sf.
Property Location: East side & West side of Quebec St., South side of Prairie Pkwy., West side of Syracuse St., East side of Trenton St., North side of E. 60th Ave., West side of Victory Way
Property Description: Vacant land Land Size: 269.04 acres Sales Price: $4.31M, or $16,000 per acre Closing Date: 11/3
Grantor: City of Commerce City, Colo., attn: Sean Ford, mayor Grantee: Kroenke CC Properties, attn: Mark Lucas, mgr., 1000 Chopper Circle, Denver, CO 80204
Comments: In two separate sections in Adams County, annexed to Commerce City Property Location: 13671 Colorado Blvd., Thornton Property Description: 6,497-sf retail store, masonry/stucco const., YOC 2007 Land Size: 37,601 sf Sales Price: $2.8M, or $430.97 per sf Closing Date: 11/4 Grantor: Dominion Properties LLC (Fausto and Johnny Saurini, mgrs.) Grantee: KKE Adventures LLC, 194 Rockridge Drive, Durango, CO 81301, Alexander McLean, mgr., 970-259-7853 Land-to-Building Ratio: 5.79: 1 Comments: Property was listed by Louis Lee of Dunton Commercial, 720-382-7326. Property is a two-tenant with drive-up window, Starbucks as the anchor tenant and AT&T as the other tenant. The property sold on a 7.3% going-in cap rate. There are 30 parking spaces. Adams County shows building to be 6,644 sf.
Property Location: NEC E. 88th Ave. & Colorado Blvd. (8820 Colorado Blvd.), Thornton
Property Description: 3,200-sf convenience store (7-Eleven), masonry, YOC 2009 Land Size: 0.88 acres Sales Price: $2.55M, or $795.41 per sf
Closing Date: 11/4 Grantor: Beckering Medical LLC (Calvin J. Van Essen, pres.)
Grantee: CPI Thornton LLC, Stuart Alpert 235 Moore St., Hackensack, NJ 07601 Financing: $1.91M (75% LTV) payable to Pascack Community Bank, 64 Crescent Ave., Waldwick, NJ 075463 Comments: Buyer is a New Jersey LLC, SPC Associates LLC.
Property Location: 13800 E. Moncrieff Pl.
Property Description: 23,368-sf office/ warehouse, 5 dock-high doors, 2 drive-in doors, sprinkled, 28’ ceiling height clearance, YOC 1984 Land Size: 2.38 acres
Sales Price: $2.5M, or $106.98 per sf
Closing Date: 11/17 Grantor: Ponderosa Land & Investments LLC (Robert L Eckhardt, mgr.)
Grantee: Robo LLC (Bruce Douglass, mgr.) 13800 E. Moncrieff Place, Aurora, CO 80111
Comments: Formerly occupied by All American Moving Services of Aurora, the property will be used by the purchaser. Tom Myers and Brandon Paxton of Unique Properties negotiated the sale of this property. Property will be used for marijuana purposes.
Property Location: 1111 W. 120th Ave., Westminster
Property Description: 5,000-sf restaurant, stucco const., YOC 2004 Land Size: 1.49 acres
Sales Price: $2.46M, or $492 per sf Closing Date: 11/7
Grantor: Philip S. Yutan and Geok Wa Yutan, Trustees of Phillip S. Yutan and Geok Wa Yutan 1975 Family Trust Grantee: Advantage II Incorporated LLC, 1816 Seashell Court, Windsor, CO 80550- 3564, attn: Dr. Scott K. Dhupar, mgr. 970- 353-5959
Comments: Hooters restaurant based on a NNN investment reflecting a 6.18% going-in cap rate. 10-year lease. The listing brokers representing the seller were Mark Pyms of Re/Max, 303-504-3434, and David Yashar of Los Angeles, 310-724- 8043.
Property Location: 3076 W. 71st Way, Westminster, “Garden Grove Apts.”
Property Description: 36-unit, gardenlevel apartments, 27,360 sf, YOC 1962 Land Size: 1.05 acres Sales Price: $2.18M, or $60,417 per unit, or $79.50 per sf
Closing Date: 11/18 Grantor: Tomas Simental and Margarita Simental
Grantee: Front Range Holdings LLP (Carolyn B. Plotkin, mgr.) 303-516-0008 Financing: $1.63M payable to AmericanWest Bank, due 12/1/44 Comments: All 2-bed units, property sold by Pinnacle Real Estate Advisors LLC.
Property Location: 5046 W. 58th Ave., Arvada
Property Description: 12,000-sf warehouse (includes 2,796-sf office built out), 1 dock, 1 ramp; 20’ clear, tilt-up concrete cons., YOC 2008 Land Size: 0.88 acres Sales Price: $1.22M
Closing Date: 11/12 Grantor: D and M Sand Holdings LLC Grantee: SBC Archway IX LLC (Mark Aukamp, mgr.) 303-721-9400
Comments: Steve Poole, CCIM, of Transwestern negotiated the sale of this property for the seller, 303-407-1468 or steve. poole@transwestern.com.
Property Location: 5400 Federal Blvd., Denver
Property Description: 6,171-sf auto garage with 6 12’ high overhead doors, masonry const., YOC 1986; and 3,240-sf auto garage with 3 overhead doors, with office space, metal construction (used for auto sales lot), YOC 1985 Land Size: 1.38 acres Sales Price: $1.2M, or $127.51 per sf Closing Date: 10/22
Grantor: 54th LLC (Michael Kane, mgr.)
Grantee: J & J Financial LLC (Lucas Jozefkowicz, lucas.denverautos@gmail.com)
Financing: Buyer executed $1.09M note, payable to Champion Bank, due 4/22/15 Comments: Buyer is Denver Autos @ 303- 573-1333 with buyers Andrea and Lucas Jozefkowicz. 6,171-sf building is leased to two auto repair services for $4,000 per month, gross. 105 parking spaces on the lot and the property is on a signalized hard corner retail site.
Property Location: 16255 Washington St., Thornton
Property Description: 3,780-sf car wash, 4 self-service bays and two karcher automatic bays, masonry const., YOC 2008 Land Size: 59,590 sf Sales Price: $975,000, or $16.36 per sf (land value)
Closing Date: 10/29 Grantor: Thornton 164 LLC, by: Jordon Perlmutter & Co, Jay Perlmutter, VP
Grantee: Fall River Village LLC, c/o Metropia Management, Paul R. Pewterbaugh, mbr., 4321 August Drive, Broomfield, CO 80023, 303-534-4643
Financing: Buyer executed $1.32M note, payable to Solera National Bank Property Location: 2880 Eliot Cir., Westminster Property Description: 16-unit, 2-story garden apt., 11,232 sf, YOC 1962
Land Size: 17,424 sf Sales Price: $969,000, or $60,562 per unit, or $86.27 per sf Closing Date: 11/26
Grantor: TLEC LTD (Linda S. Byrd, Steamboat Springs) Grantee: Sun Light Apartment LLC (Mike Hung Doan, mgr.) Lafayette, CO
Comments: There are 14 1-bed units and 2 studio units. Units are separately metered and the heat is paid by the owner. Josh Newell of Pinnacle Real Estate Advisors negotiated the sale of the property on behalf of the seller.
Property Location: 6728-6730 Federal Blvd. & 2890 W. 67th Ave., Denver
Property Description: 14,225-sf office warehouse, YOC 1958 Land Size: 57,000 sf
Sales Price: $825,000, or $58.00 per sf Closing Date: 11/4 Grantor: MJM Harris Inc. (Mack S. Harris, pres.)
Grantee: Colorado Hospitality Services Inc (10 E. 120th Ave., Northglenn, CO 80233, attn: Bruce Rahmani, mgr.)
Comments: Buyer will use property to store his hotel furniture from 10 E. 120th Ave. Nick Schill and Brandon Gouker of Pinnacle RE Advisors LLC handled the transaction.
Property Location: 3950 Turnpike Dr.
Property Description: 9-unit, 3-story walkup-style apt., 6,580 sf, brick, YOC 1962
Land Size: 14,723 sf Sales Price: $750,000, or $83,333 per unit, or $113.98 per sf Closing Date: 11/26 Grantor: DFC Management LLC (David F. Crupper, mgr.) 720-479-8891 Grantee: Falcon Investment Co. LLP (Roger N. Pack, SRA) Edwards, CO 81632
Comments: Josh Newell of Pinnacle Real Estate Advisors negotiated the sale of the Turnpike Apartments for $750,000. Buyer is a Colorado licensed appraiser and SRA appraiser in the Appraisal Institute. His phone number is 970-926-1131.
Property Location: 12285 Pecos St. (proposed), Westminster
Property Description: Vacant land Land Size: 4.96 acres Sales Price: $831,989, or $3.85 per sf
Closing Date: 10/24 Grantor: NorthRidge Holdings LLC c/o Imprimis Advisors (Russ Hatle, pres., or Hans Imhof, mgr.) PO Box 1856, Palm Desert, CA 92260
Grantee: North Denver SNF LLC (3490 Centennial Blvd., Colorado Springs, CO 80907, attn: Gerry Lafont, 719-685-8888 (The Center at Centennial)
Comments: Buyer is in the business of providing skilled impatient rehabilitation. Plans were discussed at the Planning Commission meeting on Sept. 23, 2014, for a proposed 96-bed skilled nursing facilities with approximately 78,000 sf, to be built at 12285 Pecos St. There will be 130 parking spaces and the land to building ratio will be 2.77:1.
Property Location: 5341-55-77 Federal Blvd., Denver
Property Description: 956-sf house, YOC 1922; and 672 sf house, YOC 1925 (land value)
Land Size: 2.85 acres Sales Price: $744,400, or $6.00 per sf
Closing Date: 11/17 Grantor: Grebb West 1 LLC Grantee: Commissary LLC (Martin Chernoff, Neil J. Feinstein and Andrew M. Feinstein, mgrs.) Comments: Property is situated on the west side of Federal Blvd., approximately 300’ south of W. 54th Ave.
Property Location: SWC E. 40th Ave. & Walden St., Aurora
Property Description: Vacant land Land Size: 19.95 acres Sales Price: $651,900, or $0.75 per sf
Closing Date: 10/30
Grantor: Redus One LLC (Dawn Murphy, VP)
Grantee: Gateway Industrial Twenty One LLC, 270 Saint Paul, Ste. 300, Denver CO 80206, attn: The Pauls Corp., 303-371-9000 (Charles T. Alexander, 303-307-5088) Comments: Plan filed with the city of Aurora on Aug. 13, 2014, for a site plan with waiver for a 327,840-sf industrial warehouse building with tilt-up concrete, storefront glazing and metal accents. Applicant is Jim Philips, Building 21 LLC, and the zoning is M-2. There are 297 parking places proposed. Kimley-Horn & Associates, Randall J. Phelps, PE, is the project manager.
Property Location: E/S Dallas St., approximately 300’ north of E. 99th Pl., (10040 Dallas St.), Henderson
Property Description: Vacant industrial land Land Size: 3.77 acres
Sales Price: $493,000, or $3 per sf Closing Date: 11/5 Grantor: Hunt Brothers Properties
Grantee: Bestway Concrete Co., (Peter H. Ziemke, mgr.) 970-351-7550
Comments: www.bestwayconcrete.com and is based out of Milliken, CO.
Property Location: 8476 Pearl St., Thornton
Property Description: 4,190-sf office/warehouse, 4 garage doors (10’ x 10’), masonry const., YOC 1965 Land Size: 17,424 sf
Sales Price: $425,000, or $101.43 per sf
Closing Date: 11/12
Grantor: Barbara G. Sutton
Grantee: LSR Properties LLC (Michael Nail, mbr.)
Comments: Property was listed by Tim Shay, 303-283-4594, of Colliers International.
Denver County
Property Location: 1530 Krameria St., Denver, “Park Hill Flats”
Property Description: 13-unit, 2-story apt., 10,198 sf, brick, YOC 1948 Land Size: 13,021 sf Sales Price: $2.2M, or $169,231 per unit, or $215.73 per sf
Closing Date: 12/1 Grantor: Park Hill Flats LLC (Robert J. Alexander, mgr.) Greenwood Village, CO
Grantee: Hideya Kamada c/o Saratoga Property Advisors LLC, 100 Saunders, Ste. 150, Lake Forest, IL 60045 Financing: $1.32M payable to BOFI Federal Bank, due 1/1/2045, San Diego
Comments: All units have been renovated with new interior, new washer and dryer per unit, new roof in 2012, 5 parking spaces. Listing broker is Frank J Garr, 303-619- 3521 or 303-930-5159, of RE/Max Masters and expenses shown to be $4,322 per unit. Property went under contract in September 2014. Buyer is from Tokyo.
Property Location: 607 22nd St. & 2209 Welton St., Denver, “Melbourne Bldg.”
Property Description: 10,756-sf, 2-story commercial building/hostel, 4,669-sf parking lot, YOC 1905
Land Size: 10,935 sf
Sales Price: $1.8M, or $167.35 per sf
Closing Date: 12/1 Grantor: Welton Corners LLC (Cory L. Phillips & Sean G. Bennett, mgrs.)
Grantee: Diane M. Ware and Kenneth C. Ware, 7225 S. Xanthia St, Centennial CO Financing: $1.87M payable to Centennial Bank
Comments: Melbourne has first-floor retail and commercial floor and second floor has been operated as a youth hostel for over 30 years. See Trustee’s Deed dated Oct. 14, 2014, in the amount of $1.5M.
Property Location: 990 Acoma St., Denver
Property Description: 5,466-sf school bldg., masonry const., YOC 1963
Land Size: 11,200 sf
Sales Price: $1.4M, or $125.00 per sf (land value)
Closing Date: 12/1 Reception No. 2014145807 Grantor: The Spitzer Electrical Co. (Thomas A. Spitzer, pres.)
Grantee: 990 Acoma LLC, 3033 E. First Ave., Ste. 515, Denver, CO 80206
Comments: Principal Jeffrey Robinson, 303-694-1085 or jeff@hamptonpartners.net. The property is located on the southeast corner of East 10th Ave. and Acoma St. The interim use is the Golden Triangle Learning Center.
Property Location: 4484-4490 Tennyson & 4348-4350 W. 45th Ave., Denver
Property Description: 8-unit apt., 5,069 sf, brick const., YOC 1906
Land Size: 13,500 sf Sales Price: $1.28M, or $159,315 per unit
Closing Date: 12/1 Grantor: Spencer Properties Tennyson LLC (Connie Spencer, mgr.) Grantee: 45th and Tennyson LLC, 3870 Tennyson St., Denver, CO 80212 Financing: $875,000 payable to Commerce Bank DV Aurora Banking Center
Comments: David J. Pagano, chief operating manager, is buyer contact.
Property Location: 1548 W. Byers Pl., Denver
Property Description: 8,748-sf warehouse, masonry const., YOC 1982
Land Size: 17,638 sf Sales Price: $625,000 Closing Date: 11/28 Grantor: DWW/MCW Partners Ltd. (Donald W. White, gen. ptnr.)
Grantee: 5 Spoons LLC (Sydney M. Harrison and Lois K. Harrison, mgrs.)
Financing: $450,000 payable to Stated Bank of Downs Berkley Bank, due 12/2/24
Comments: Building has four (12’ x 12’) grade-level doors at rear with 14’ clear height. There is approximately 1,300 sf of finished office space and is near I-25 and W. Alameda interchange.
Douglas County
Property Location: 10020 Trainstation Cir., Lone Tree, “Miramont at Ridgegate”
Property Description: 243-unit, 4-story apt. complex, 234,971 sf (net rentable), YOC 2010; plus 5,289-sf retail space; and 6,643-sf clubhouse/fitness center Land Size: 3.24 acres
Sales Price: $52.5M, or $216,049 per unit, or $223.43 per sf
Closing Date: 11/25
Grantor: Ridgegate Commonwealth Apartments LLC (MF RGP LLC, Timm Wooten)
Grantee: CWS Ridgegate LLC, et al., 14 Corporate Plaza, Ste. 210, Newport Beach, CA 92660 (Steve Sherwood, Bill Williams, Gary Garmell and Michael Engels, principals) 800-466-0020 Units per acre: 75
Comments: There are 22 individual models with 10 (1-bed/1-bath models totaling 148 units; 11 (2-bed/2-bath) models totaling 87 units; and 8 3-bed/2-bath units, with a size ranging from 670 to 1,429 sf, a price per sf range between $1.48 to $1.65, with an average of 967 sf per unit and $1.58 per rentable sf unit price. Amenities include 24-hour fitness club, conference room, outdoor fireplace and grills, garage parking, patios and/or balconies, full-size washers and dryers, walk-in closets. Transaction handled by ARA Denver office, Terrance Hunt, Jeff Hawks, Doug Andrews, Jason Wine, Shane Ozment and Anna Stevens. There are 74 parking spaces, 355 covered spaces and 60 street parking with a 2.01 space per unit. Estimated operating cost is approximately $5,500 per unit with a 96% occupancy rate.
Property Location: 9135 Ridgeline Blvd., Highlands Ranch
Property Description: 55,157-sf, 2-story office bldg., YOC 2001; 37,013-sf, 2-story office building, YOC 2001; and 44,325-sf single-story office bldg., YOC 2001; total 136,495 sf
Land Size: 11.82 acres
Sales Price: $18.5M, or $135.54 per sf
Closing Date: 11/20 Land-to-Building Ratio: 3.77: 1
Grantor: Ridgeline Technology Center LLC c/o Shea Homes, Michael Brown, mgr.
Grantee: Ridgeline Technology LLC c/o Stoltz Real Estate Partners, Keith D. Stoltz, CEO, 610-667-5800 725, Bala Cynwyd, PA
Comments: Building 1 (9135 S. Ridgeline) is 100% occupied and broker shows 3-story 55,157-sf building; Building 2 (9137 S. Ridgeline) is 93.4% occupied and broker shows 2-story, 37,157-sf building with 2,525 sf available at $14.50-$15 per sf NNN; Building 3 is 44,325 sf with 27,657 sf available. Property is on northwest corner of S. Broadway and Highlands Ranch Parkway and sold with 22.11% vacancy. Geoff Baukol of CBRE was the broker of record. Expenses, which are paid by the tenant, are $7.28 per sf in 2014