Colorado Real Estate Journal - May 6, 2015
Property Location: 321 W. 84th Ave., Thornton “Appliance Factory Warehouse” Property Description: 338,651-sf office/ retail/R&D building, including 69,924 sf of office space; 40,164 sf of retail and 228,864 sf of cross-dock distribution area, constructed in 1996 with addition in 2001, 32 dock doors with levelers, 655 parking spaces, 18,000-sf mezzanine area in warehouse (not included in sf) Land Size: 32.56 acres Sales Price: $16.2M, or $47.84 per sf Closing Date: 4/2 Reception No.: 2015000022900 Grantor: Wattles Real Estate Partners LLC (Franklin Bruce Giesbrecht, mgr.) Grantee: 321 W. 84th Ave. LLC (Charles E. Ewing, mgr.), c/o Appliance Factory Warehouse Inc., Denver, 303-759-5555 Comments: Property was negotiated by Mike Camp, 720-528-6313, and Jim Bolt, 720-528-6310, both of CBRE. Property has potential for 62,000 sf of expansion. Building is 32-38’ clear in warehouse with ESFR sprinkler system. Buyer will use building for main office of its Appliance Factory Warehouse. Building was vacant since 2012. Property Location: 13050 E. Smith Rd., Aurora “Opus Business Center” Property Description: 100,691-sf warehouse building, YOC 2005, concrete tiltup Land Size: 6.73 acres Sales Price: $8.83M, or $87.64 per sf Closing Date: 4/20 Reception No.: 2015000022900 Grantor: PF Maf Falcon & Frishman Falcon (David Frishman, mgr.), 303-721-1000 Grantee: LBA-RV-Company XII LP c/o LBA Realty, 949-833-0400 Comments: Property was negotiated by Dan Grooters, 303-260-4384, and Riki Hashimoto, 303-260-4383, of Newmark Grubb Knight Frank. The University of Colorado Hospital Authority has been an occupant since Opus Group did a build-to-suit for the tenant in 2005. Opus sold the property in June 2005 for $7.36M. This sale reflected an “in-place” cap rate of 7.1%. Property Location: 1960 Dallas St., Aurora Property Description: 29-unit, 3-sty. walk-up apt. bldg., w/18,750 sf, YOC 1967 Land Size: 20,909 sf Sales Price: $1.7M, or $58,621 per door, or $90.67 per sf Closing Date: 3/30 Reception No.: 2015000022715 Grantor: Anderprise Holdings LLC(Mark Edward Anderson, mgr.) Grantee: American Properties Investment LLC (Guadalupe Soto, mbr.) Financing: $1.28M@4.85% due 4/1/25, payable to FirstBank Comments: Josh Newell of Pinnacle Real Estate Advisors LLC handled the transaction . Property Location: 8020-8080 Steele St., Commerce City Property Description: Vacant industrial land, zoned I-2 Land Size: 12.51 acres Sales Price: $1.26M, or $2.32 per sf Closing Date: 4/8 Reception No.: 2015000025128 Grantor: Riverside Investment Holdings LLC (Dani Albo, mgr.), Hollywood, FL Grantee: Central Development LLC (Jeremy Records, mgr.), 303-628-0200 Comments: The property consists of 5 parcels of land containing an aggregate sum of 12.51 acres (as per Adams County). There is a body of water on the east boundary line of the 5 parcels that is owned by the city of Thornton. Property Location: W/S Quivas St., approx. 500’ north of W. 102nd Ave. Property Description: Vacant commercial land Land Size: 5.92 acres Sales Price: $857,500, or $3.32 per sf Closing Date: 3/27 Reception No.: 2015000022163 Grantor: Mountain Series I Owner LLC (David Loo, mgr.) Grantee: Miller Family Real Estate LLC Comments: Miller purchased 10369 Quivas in April 2014 for $560,000; contained one acre of land and an office building with 1,530 sf, with 12,370 sf of land located at 10345 Quivas St., which sold for $250,000 in November 2014. The total assemblage amounts to $1.67M over the last 13 months and contains 7.2 acres, or $5.32 per sf. Property Location: 7262 Meade St, Westminster Property Description: 9,134 sf post office, YOC 1960 Land Size: 17,860 sf Sales Price: $900,000, or $98.53 per sf Closing Date: 3/30 Reception No.: 2015000022163 Grantor: CFF LLC (JoBelle Fischer, Kathy Peterson & Lynne Isles, mgrs.) Grantee: RMF Holdings LLC (Ryan M. Floyd & RTH LLC (Andrew Toole, mgr.) Comments: This is the second post office Ryan Floyd and Andrew Toole purchased in the Denver metro area and involved the same parties of the first. Floyd is a commercial real estate broker with Unique Properties LLC, 303-321-5888. Property Location: 5155-5161 W. 80th Ave., Westminster Property Description: 8,196-sf office condo, YOC 1978 Land Size: 32,916 sf Sales Price: $680,000, or $82.97 per sf Closing Date: 3/30 Reception No.: 2015000023092 Grantor: Action Holdings LLC (Michael Rakestraw, mgr., California) Grantee: JJJJ LLC, 8471 Turnpike Dr., Ste. 222, Westminster, 303-815-1654 Comments: Buyer is Julie Kremer, mgr. of JJJJ LLC. Property Location: 5555 Pecos St., Denver Property Description: 10,855-sf retail center, YOC 1985 Land Size: 43,560 sf Sales Price: $840,000, or $77.42 per sf Closing Date: 4/8 Reception No.: 2015000025183 Grantor: Gregory and Peggy Karraker Grantee: BK Enterprises LLC, 8417 Brighton Rd., Commerce City Comments: Jeff McClintock of Newmark Grubb Knight Frank handled the transaction.
Property Location: Vicinity SEC of Smoky Hill Rd. & E-470; lies northwest of E. Aurora Parkway, Aurora Property Description: Vacant land Land Size: 76.75 acres Sales Price: $5M, or $1.51 per sf Closing Date: 4/8 Reception No.: D5036330 Grantor: Great Western Bank, Lincoln NE (Sarah Spiker) Grantee: Forest Trace Development Inc. (Richard A. Frank, pres.) Financing: $4.35M payable to Citywide Banks (construction loan) Comments: The subsequent buyer, Richmond American Homes, platted the property into two filings, Forest Trace Filing No. 1 & Forest Trace Filing No. 2. The total of these two filing equates to 75.84 acres. Property Location: Vicinity SEC of Smoky Hill Rd. & E-470, lies northwest of E. Aurora Parkway, Aurora Property Description: 135 paper-platted sites Land Size: 135 lots Sales Price: $5.4M, or $40,000 per lot Closing Date: 4/8 Reception No.: D5036341 Grantor: Forest Trace Development Inc. (Richard A. Frank, pres.) Grantee: Richmond American Homes of Colorado Inc. Financing: $4.35M payable to Citywide Banks (construction loan) Comments: Lots 1-80, Blk. 1; Lots 1-16, Blk. 2; Lots 1-17, Blk. 3; Lots 1-22, Blk 4; & *Tracts A, B, C, D & E, Forest Trace Subd., 2nd filing. *Tracts containing 27.06 acres shall be used for open space, drainage, and are privately owned and maintained. Property Location: Vicinity SEC of Smoky Hill Rd. & E-470, lies northwest of E. Aurora Parkway, Aurora Property Description: 63 paper-platted sites Land Size: 63 lots Sales Price: $2.52M, or $40,000 per lot Closing Date: 4/13 Reception No.: D5036343 Grantor: Forest Trace Development Inc. (Richard A. Frank, pres.) Grantee: Respond Land LLC Comments: Lots 6-52, Blk. 1 and Lots 1-16, Blk. 2, Forest Trace Subd., 2nd filing. Property Location: 12150-12250 E. Briarwood Ave, Centennial Property Description: 63,380-sf office building, YOC 1983, brick construction Land Size: 4.59 acres Sales Price: $4.88M, or $76.92 per sf Closing Date: 4/8 Reception No.: D5036496 Grantor: NV Centennial LLC (Peter H. Lunt, Vienna VA & BI Centennial LLC (Robert J. Bradley, mgr.) Grantee: Melcor Centennial LLC, Brian Baker, pres., 480-699-4687 Financing: $3.2M payable to Genworth Life & Annuity Ins., due 4/30/25 Comments: Buyer’s website is www.melcor.ca and is based out of Edmonton, Alberta, Canada, 780-423-6931. Property Location: 2200 S. Valentia St., Denver Property Description: 69,192-sf warehouse (1,500-sf office area) YOC 1997, wet and dry sprinkled; 7 dock-high and 2 drive-in doors, 24’ clear, concrete constr. Land Size: 2.83 acres Sales Price: $373M, or $53.87 per sf Closing Date: 4/15 Reception No.: D5037781 Grantor: Grande Investments LLC (Abbas Rajabi, mbr.) & Westchester LLC (Reid A. Godbolt, mbr.), c/o Cyrus and Associates Grantee: C and A Holdings LLC (intermediator for Pillow King LLC (Craig William Clark, mbr.) 2200 S. Valentia St., Denver 80231 Financing: $1.87M payable to KeyBank, NA (50% LTV), due 5/1/25 Comments: Property was listed by Jim Bolt, 720-528-6310, and Tyler Carner, 720- 528-6397, of CBRE Inc. Property was listed at $3.75M or lease at $3.75 per sf triple net. The buyer is a 1031 exchange mediator for Pillow King LLC. Property Location: W/S DTC Blvd. approx. 300’ s. of E. Prentice Ave., also fronts E/S S. Valentia Way, Greenwood Village Property Description: Vacant land Land Size: 90,122 sf Sales Price: $2.85M, or $31.62 per sf Closing Date: 4/14 Reception No.: D5036700 Grantor: H5 Capital Denver LLC, 9320 Wilshire Blvd., Ste. 300, Beverly Hills, CA 90212, By: Tigertail Capital LLC, Josh Simms, mgr. Grantee: 5350 DTC SP LLC c/o William Warren Group, Costa Mesa, CA Financing: $4.35M payable to Citywide Banks (construction loan) Comments: Lot 1, Blk 1, StorQuest Denver Technological Subdivision Filing No. 1. Property Location: 152-154 W. Powers Cir. Littleton “Prince Philip Apts.” Property Description: 23-unit, 3-sty apt. complex w/17,110 sf, YOC 1961, brick Land Size: 15,986 sf Sales Price: $1.81M, or $78,696 per unit, or $132.34 per sf Closing Date: 4/15 Reception No.: D5037556 Grantor: A. Leroy Measner, 1607 10th Ave., Greeley 80631 Grantee: T.H. Steele, Eastlake CO Financing: Cash Comments: Property contains (5) studios@ 500 sf, rent for $575/mo.; (6) 1/1@ 650 sf, rent for $679/mo.; (12) 2/1@ 825 sf, rent for $779/mo. Expenses are estimated by broker at $3,116 per unit (not including reserves), with “in-place” cap rate of 6.5%. Property was listed by Unique Properties Apartment Group, Ryan Floyd and Marc S. Lippitt, 303-321-5888. See resale. Property Location: 152-154 W. Powers Cir., Littleton “Prince Philip Apts.” Property Description: 23-unit, 3-sty. apt. complex w/17,110 sf, YOC 1961, brick Land Size: 15,986 sf Sales Price: $1.95M, or $84,804 per unit, or $113.99 per sf Closing Date: 4/15 Reception No.: D5037610 Grantor: T.H. Steele, Eastlake CO Grantee: Powers Apts. LLC (Daniel S. Howell, mgr.) Financing: $1.69M@ 6.5%, payments of $10,238.66/mo. payable to seller Comments: Property contains (5) studios@ 500 sf, rent for $575/mo.; (6) 1/1@ 650 sf, rent for $679/mo.; (12) 2/1@ 825 sf, rent for $779/mo. Expenses are estimated by broker at $3,116 per unit (not including reserves), with “in-place” cap rate of 6.5%. Property was listed by Unique Properties Apartment Group, Ryan Floyd and Marc S. Lippitt, 303-321-5888. See prior sale. Property Location: 3179 S. Peoria Court, Aurora “The Green Solution” Property Description: 4,809-sf retail building, YOC 1979, brick const. Land Size: 44,099 sf Sales Price: $1.6M, or $332.71 per sf Closing Date: 4/10 Reception No.: D5026799 Grantor: PBZ Properties LLC (Paul Zueger, mgr.) Grantee: 3179 South Peoria Court LLC (Kyle & Eric Speidell, mgrs.) Financing: $1.6M payable to MBM Three LLC, due 4/10/18 Comments: Third-party lender located at 1550 Larimer St., Ste. 634, Denver, attn: Ryan Arnold. This property is used for medical and recreational marijuana sales. This property was formerly a McDonald’s restaurant.
Location: 1995 E. Coalton Rd., 2300 & 2600 S. Rock Creek Pkwy., located at the NEC of Rock Creek Pkwy. & Coalton Rd., Superior “The Horizons At Rock Creek” Property Description: Four separate complexes totaling 1,206 apt. units w/1.24M sf, YOC 1998, brick and frame construction with 163 buildings plus clubhouse and office, 134 units renovated prior to closing. Land Size: 78.8 acres-plus (including 15.52 acres in Audrey Reservoir) Sales Price: $255M, or $211,443 per unit, or $205.81 per sf Closing Date: 4/20 Reception No.: 03441006 Grantor: Simpson Financing LP & SHLP Rock Creek II LLC (Scott D. Henley, SVP) Grantee: CH Realty BII-Bell MF Boulder Horizons LLC, c/o Bell Partners 300 N. Greene St., Ste. 1000, Greensboro NC 27401, Joe Cannon, SVP, 336-232-1900 Financing: CBRE Capital Market Comments: The Horizons at Rock Creek sold for a record high $255M, the highest for any multifamily transaction handled by a brokerage company and secondhighest in recorded history. Rental rates range from $1.25 psf on large 3-bedroom units to $1.58 psf on 1-bedroom, 1.5- bath TH (renovated). Terrance Hunt, Jeff Hawks, Doug Andrews, Shane Ozment, Anna Stevens and Amanda Meldrum of ARA negotiated the transaction. Parking includes 412 2-car attached garages, 308 1-car attached garages, 690 detached garages, 1,330 open spaces and 40 handicapped spaces for a total of 2,780 spaces. Studio apartments contain 484 sf with one-car detached garage; one-bedroom/ one-baths contain 742 sf, with one-car detached garage; the one-bedroom town home plus 1.5 baths has 895 sf, with attached one-car garage; there is a onebedroom, one-bath floor plan containing 921 sf with one-car attached garage; the one bedroom TH has 1,025 sf, with one-car attached; the two-bedroom/twobath floor plan is 1,000 sf, with one-car detached; there is a two-bedroom/2.5- bathroom townhome model with 2-car attached garage, containing 1,313 sf; and the largest unit is a two-bedroom/twobathroom townhome with 2-car attached garage containing 1,720 sf. There are two floor plans involving a three-bedroom model. This unit contains 1,289 sf, three bedrooms/two baths with onecar detached garage; the other three-bedroom/three-bath model has a two-car attached garage with 1,525 sf. Property Location: 2985 E. Aurora Ave., Boulder “Sterling University Peaks” Property Description: 96-unit student housing building with 192 bedrooms and 96 bathrooms, 73,152 sf, YOC 1965, masonry construction Land Size: 2.39 acres Sales Price: $22M, or $229,167 per unit, or $114,588 per bedroom Closing Date: 4/13 Reception No.: 03439845 Grantor: Sterling-UCAL LLC (University Communities), Lee Ryder, 303-300-9028 Grantee: Marletta Properties Two Holdings LLC (Jessica Ramer, mgr.), Sterling University Peaks LLC (Mark H. Carson, mgr.), 303-449-3060 Comments: Student housing one block away from University of Colorado with bedrooms renting for $825-$850/mo. Grantor website www.univhousing.com. Property Location: 980-1020 & 1100 Ken Pratt Blvd., Safeway Marketplace & Longmont Diagonal Marketplace” Property Description: (3) retail strip-center buildings totaling 36,227 sf, YOC 1995 Land Size: 3.06 acres Sales Price: $9.99M, or $275.66 per sf Closing Date: 4/13 Reception No.: 03439182 Grantor: RLET Properties Nova Plaza c/o Burden Inc., attn: Keith Burden, 303-246-6393; Niwot 80544 Grantee: Starboard Diagonal DST (Steve Carlton, VP of 8558 Realty Advisors) Comments: Tenants include Starbucks Coffee, Chipotle, Lamplighter, Little Caesar, FedEx Office, Cost Cutters. Shadowanchored by safeway, Advance Auto & OfficeMax. Rental Rate was quoted at $22.50 psf NNN for 2,100 sf at 1100 Ken Pratt Blvd. Property was 10% vacant at time of sale. Property was negotiated by Matt Henrichs, 720-528-6308, and Brad Lyons of CBRE Inc. – Retail Group Property Location: 3340 Mitchell Lane, Boulder Property Description: 9,616-sf, 2-sty. office building, YOC 1983 Land Size: 26,703 sf Sales Price: $1.63M, or $168.99 per sf Closing Date: 4/20 Reception No.: 03440699 Grantor: Coggan Properties LLC (Caroline & Peter Coggan, mgrs.), 303-246-6393 Grantee: Westfall LLC (Richard “Jason” Cormier, mgr.), 303-444-9214 Comments: Sale was negotiated by Angela Topel, 303-586-5921, and Gregory Glass, 303-586-5927, of Gibbons White Inc. The property contains 35 parking spaces, kitchenettes and showers and is located on a bike path. Scott Crabtree of the Colorado Group represented the buyer.
Property Location: 2200 Larimer St., & 2222-2234 Larimer St., Denver Property Description: 12,138-sf retail building, YOC 1904, brick construction and parking lot (land value) Land Size: 31,384 sf Sales Price: $5.8M, or $184.81 psf Closing Date: 3/31 Reception No.: 2015039395 & 2015038205 Grantor: Monkey and the Music Box Inc. (Jeffrey A. Cox, pres.) & Bohemian Holdings LP (Matthew D. Wolf, ptnr.) Grantee:2200 Larimer LLC c/o Valdoro, (Mike Schilling, Breckenridge) Comments: Two deeds combined for a total of $5.8M, or $184.81 per sf. The property is on the east corner of Larimer St. & 22nd St. Property Location: 3301-3385 Walnut St., Denver Property Description: Five industrial buildings totaling 51,350 sf, YOC 1947-65 Land Size: 50,005 sf Sales Price: $4.65M, or $92.99 per sf Closing Date: 3/12 Reception No.: 2015031420 Grantor: RayKasel LLC & Raymond J. Kasel Grantee: SilverRino LLC, 303-825-0940, (Jeff Oberg, mgr.) Financing: $2.72M payable to Citywide Banks Comments: 2-yr. leaseback to the seller; buyer will upgrade the buildings. The buyer will hold for redevelopment and has 3350 Blake St. under contract. Tim Finholm and Sam Leger of Unique Properties lLC-TCN Worldwide negotiated the sale of the property. Property Location: 4999 E. Kentucky Ave., Denver “Cherry Creek Eye Center” Property Description: 17,440-sf, 2-sty. office/medical building, YOC 1985, renovated in 2012 Land Size: 38,976 sf Sales Price: $4.6M, or $263.76 per sf Closing Date: 4/1 Reception No.: 2015040853 Grantor: CCEC LLC, c/o TBT Management, Jack Gindi, CCIM, 303-302-6484 Grantee: Jaman Solutions, Steve B. Pham, 14910 W. Evans Pl., Lakewood 80228 Financing: $3.68M due 4/1/22, payable to First Citizens Bank & Trust Property Location: 1115 Logan, Denver “Dresden Apts.” Property Description: 28-unit, 2-sty. center-hall apt. bldg. w/11,825 sf, YOC 1925, brick construction, 24 one-bedrooms, 4 studios Land Size: 12,500 sf Sales Price: $3.5M, or $125,000 per unit, or $295.98 per sf Closing Date: 1/30 Reception No.: 2015011245 Grantor: Michael E. Prentiss & Andrea W. Prentiss & Norman Veta Grantee: 1678 Paris LLC (25%) & 1188 Bellaire Partners LLC (65% LTV), Michael Blackman, mgr., c/o Brownstone Realty, 303-832-8155 Financing: $2.28M payable to JPMorgan Chase, due 4/1/30 (74.2% LTV) Comments: Sale includes 15 parking spaces. The building is master metered for gas, individual for electric. The transaction was negotiated by Kyle Malnati and Greg Johnson of Madison Commercial Properties, 303-771-3850, on a 1031 exchange. Seller converted property from a 25-unit (all-studio apt. building) to 24 one-bedroom, 4 studio (28) units, and rents are $900 per month. Marc Huisken and John V. Winslow purchased this building in 1982 for $250,000 and the rents were $175/mo. Property Location: 3190 W. Louisiana Ave, Denver “Pinecrest Apartments” Property Description: 43-unit, 2-sty. walk-up style apt. bldg. w/37,916 sf, YOC 1960 Land Size: 50,887 sf Sales Price: $2.92M, or $67,910 per door, or $77.01 per sf Closing Date: 4/15 Reception No.: 2015048132 Grantor: Logan Apartments LLC (Andres Osuna Cortes, mbr.) Grantee: KCK Cinnamon Ridge LLC (Keith A. Koch, mgr.) & 2055 S. Lincoln St LLC (Jason M. Koch, mgr.), 303-321-5888 Financing: $2.19M payable to Bellco Credit Union, due 4/15/25 (90.8% LTV) Comments: The property was negotiated by Jason Koch of Unique Properties LLC and the apartment team, 303-321- 5888. The property sold in June 2013 for $2.05M, or $47,675 per door. Property Location: 1605 King St., Denver (NWC King St & W. 16th St) Property Description: residential improvements (to be scraped) Land Size: 37,140 sf of G-MU-3 zoned property Sales Price: $2.3M, or $61.93 per sf, or $100,000 per proposed unit Closing Date: 3/31 Reception No.: 2015045099 Grantor: Elsie Morales & Cayetano Morales Grantee: Sloans LCP LLC c/o Legacy Capital Partners, 720-310-8988 Financing: $1.68M payable to Investment Property Exchange Services Inc. based in Tempe, AZ Comments: Buyer is Steve Maxwell, VP of acquisitions and research, & Jake Mutz, president, of Legacy Capital. Listing broker was Keller Williams Downtown LLC, Ernie Duran, 303-919-0077, duranrealty@hotmail.com. Properties include 3520 W. 17th Ave, 1605 King St. & 3525 W. 16th Ave. There are 23 units that are proposed on these three parcels. Property Location: 2441 S. York St., Denver Property Description: 17-unit, 3-sty. apt. bldg. w/8,926 sf, YOC 1967, brick const. Land Size: 6,250 sf Sales Price: $2.05M, or $120,588 per unit, or $229.67 per sf Closing Date: 3/31 Reception No.: 2015039974 Grantor: Peter Charczenko Grantee: Cedarbridge Apartments, (Ronald L. Wells, mgr.) Dwellings LLC (Doug Campbell, mgr.) & C&L Investing LLC (Kevin Calame & Matt Lewallen, mgrs.) Financing: $1.86M@ 4%payable to FirstBank, due 4/1/25 (90.8% LTV) Comments: 8 parking spaces and building has been recently updated. Two of the grantees, Matt Lewallen and Kevin Calame, are with Pinnacle Real Estate Advisors LLC and represented the grantee in this transaction. Property Location: 1536 Williams St., Units 101-304, “Park West Apts.” Property Description: 12-unit, 3-sty. center-hall apt. bldg.. w/8,715 sf, YOC 1964, brick construction. Units have been legally divided into 12 condo units. Land Size: 6,250 sf Sales Price: $1.65M, or $137,150 per unit, or $188.76 per sf Closing Date: 4/15 Reception No.: 2015048119 Grantor: Ohana 23 LLC (Lesia Anders Revocable Trust, mbr.) Grantee: 1536 Williams LLC c/o Cornerstone, Jim Lorenzen, pres., 303-333-1999 Financing: $1.09M payable to Centennial Lending, due 4/1/30 (74.2% LTV) Comments: Sale includes 6 parking spaces and 12 storage spaces. 11 one-bedroom units@ 580 sf average size per unit and one studio unit@ 480 sf. The transaction was negotiated by Kyle Malnati and Greg Johnson of Madison Commercial Properties, 303-771-3850. The property sold on a “in-place” cap rate of 5.87% and expenses are estimated at $3,735 per door (not including reserves). Some units has been updated with granite countertops, wood floors, tile and dishwashers. The windows, roof, gutters and downspouts have been recently replaced. Studio rents for $1,170 per month with one-bedroom unit commanding $1,395/mo. Property Location: 1877 S. Federal Blvd, Denver “Tangiers Apts. Property Description: 24-unit, 3-sty. apt. bldg. w/13,894 sf, YOC 1962, brick const. Land Size: 15,625 sf Sales Price: $1.47M, or $61,250 per unit, or $105.80 per sf Closing Date: 4/6 Reception No.: 2015043495 Grantor: TIC-02-2005, et al., c/o William J. Cormier, et al. Grantee: Tangiers 24 LLC, (Jeffrey Kramp & Tom Payn, mgrs..) Pompano Beach, FL Financing: $1.09M payable to Centennial Lending, due 4/1/30 (74.2% LTV) Comments: 24 one-bedroom units@ 575 sf average size per unit, master metered for gas, individual for electric. Property Location: 11975 E. 40th Ave., Denver Property Description: 16,998-sf warehouse, YOC 1969. Misc. improvements (land value, zoned R-MU-30) Land Size: 42,527 sf Sales Price: $1.53M, or $89.72 per sf Closing Date: 4/1 Reception No.: 2015041424 Grantor: Lightshade Labs LLC, 3950 Holly St. (John Fritzel, mbr.), 303-468-6100 Grantee: 11975 E. 40th Street, 26050 Mureau Rd., Ste. 101, Calabasas CA 91302 Financing: $920,000 due 3/31/17, payable to Montegra Capital Comments: Grow operation at this location. This is a sale-leaseback as the buyer is an investor from California. Buyer contact is Jeff McGuire of Lee & Associates, 818-444-4960, or 818-335-4332. Original seller was Frank C. Torres and he sold the property to Lightshade Labs for $1.2M, recorded via 2015041384 and dated 4/1/15. Property Location: E/S Fairfax St (235’ frontage), 90’ north of E. 8th Ave., also fronts west side Forest St. (31’ frontage) Property Description: Vacant land Land Size: 35,910 sf Sales Price: $1M, or $27.85 per sf Closing Date: 4/9 Reception No.: 2015045795 Grantor: Friendship Baptist Church of Christ Jesus (Rev. Paul Burleson), 303- 321-5529 Grantee: Mark Kelley, c/o Re/Max Alliance Central Financing: $975,000@ 13%, due 12-9-15, payable to Luis Ventoza, Tempe AZ* Comments: *There is a $78,000 origination fee of the note. The property was quit-claimed to 800 Fairfax LLC, which is Mark Kelley’s LLC. Buyer is a real estate broker with Re/Max Alliance Central Property Location: 4929 Ironton St., Denver Property Description: 7,200-sf industrial building, YOC 1972, block/brick const. Land Size: 27,610 sf Sales Price: $870,000, or $120.83 per sf Closing Date: 3/30 Reception No.: 2015040273 Grantor: 4929 Ironton LLC (Rebecca A. O’Guin, mgr.), 303-232-0670 Grantee: Calebra LLC 4949 N. Broadway, Ste. 105, Boulder, c/o Emerald Management, 303-444-4552, Jim York, pres. Comments: Fenced storage yard, 14’-clear ceiling. Property is leased to new tenant and buyer purchased for investment. Property Location: 4745 W. 38th Ave., Denver Property Description: 2,582-sf retail building, YOC 1913, masonry const. Land Size: 5,565 sf Sales Price: $585,000, or $226.57 per sf Closing Date: 3/27 Reception No.: 2015038805 Grantor: Daniel A. Florez Grantee: CP Interest LLC, 4200 E. Cedar Ave. 80246 (Corinna S. Carlsgaard) Comments: Retail building with 6 parking spaces. Property Location: 3700 Tennyson St., Denver “Alcott U.S. Post Office” Property Description: 5,263-sf post office building, YOC 1965, masonry const. Land Size: 18,195 sf Sales Price: $550,000, or $104.50 per sf Closing Date: 3/30 Reception No.: 2015038895 Grantor: CFF LLC (JoBelle Fischer, Kathy Peterson & Lynne Isles, mgrs.) Grantee: RMF Holdings LLC (Ryan M. Floyd & RTH LLC (Andrew Toole, mgr.) Comments: Located at northeast corner of W. 37th Avenue & Tennyson St., the property is the post office building. One of the buyers (Ryan M. Floyd, 303-321-5888) is a Colorado real estate broker employed by Unique Properties LLC-TCN Worldwide and negotiated the transaction for the grantee. Toole owns Ireland’s Finest Painting Co. and the Jefferson Park Pub. The building has nearly 6 years left, on the lease and reflects a 8.5% “in-place” cap rate. Property Location: 148 Vallejo St., Denver Property Description: 7,203-sf industrial factory building, YOC 1965, block const. Land Size: 14,230 sf Sales Price: $500,000, or $69.41 per sf Closing Date: 4/1 Reception No.: 2015040401 Grantor: Patsy L. Tricario Grantee: HE Leasing LLC, Darin J. Uhrig, mgr., 303-778-6517 Financing: $490,000 payable to Patsy L. Tricario (95.5% LTV) Comments: Tenant purchased the building from the landlord/seller. Heabler Metal Products, which is owned by Darin Uhrig, acquired the building from Patsy L. Tricario with very favorable financing terms. Owner-occupied building Property Location: 1147 Santa Fe Dr., Denver Property Description: 1,343-sf retail conversion, YOC 1900, brick const. Land Size: 4,257 sf Sales Price: $385,500, or $287.04 per sf Closing Date: 3/31 Reception No.: 2015040056 Grantor: Meghan K. Collar & James L. Throckmorton Grantee: Rocking Horse LLC, 1147 Santa Fe, Denver 80204 (Fred McNab, mgr.) Financing: $385,500 payable to David & Susan Knust Property Location: 101 S. Emerson St. (SWC S. Emerson & E. Bayaud) Denver Property Description: Vacant land Land Size: 4,257 sf Sales Price: $300,000, or $70.47 per sf Closing Date: 3/30 Reception No.: 2015038613 Grantor: Raymond E. Arnold Grantee: 101E Partners LLC (Philip I. Paterson & Darryn T. McLaughlan, mbrs.) Financing: $195,000 payable to Guaranty Bank & Trust Comments: Strategic location in West Washington Park area on small site zoned G-MU-3.
Property Location: 1) 11280 S. Twenty Mile Rd. 2) 11177 S. Dransfeldt Rd. 3) 11290 S. Twenty Mile Rd., Parker Property Description: 1) 22,750-sf retail center (Target-anchored center), YOC 2005, brick construction; 2) 25,517-sf retail center, YOC 2003, brick construction; 3) 10,099-sf retail center, YOC 2006, brick construction (total 58,366 sf) Land Size: 1) 2.13 acres 2) 2.05 acres 3) 1.95 acres (total of 6.12 acres) Sales Price: $19,54M, or $334.70 per sf Closing Date: 4/8 Reception No.: 2015022767 ($7.83M, or $343.96 per sf) 2) 2015022781 ($7,.36M, or $288.44 per sf) 3) 2015022754 ($4.35M, or $430.73 per sf) Grantor: Parker Valley Center VI, IV & V LLC (David J. Faestel, mgr.) Grantee: Retail Fund I, Denver Parker VI LLC, Parker IV & Parker V, Crow Holdings, 214-661-8000 Comments: 1) Lot 6, Parker Valley Center Filing No. 1, 4th Amendment; 2) Lot 3, Parker Valley Center Filing No. 1, Second Amendment. seller was represented by Newmark Grubb Knight Frank, Riki Hashimoto & Dan Grooters. Property Location: NWC French Creek Ave & Motsenbocker Rd. Property Description: Vacant land Land Size: 124.96 acres with 500 lots proposed Sales Price: $15M, or $2.75 per sf Closing Date: 3/29 & 2/12 Reception No.: 2015020238 & 2015008639 Grantor: Parker Investments 2009 (formerly known as Pivotal Parker Investments & Parker PA-11 LLC, (Gary S. Elbogen, mgr.), Scottsdale AZ Grantee: Anthology Recovery Acquisition, c/o Raintree Inv., David Hewitt, mgr. Comments: LLC to buyer is Paulson REF II West LLC (Jonathan Shumaker, signatory). There were 2 deeds; the first deed included $10M for 64.97 acres, or $3.53 per sf, including 95 finished lots and another 125 partially lots and tracts. The second deed was for $5M and contained 60 acres of unplatted land, or $1.91 psf. An additional 280 lots will be developed on the 60 acres for a total of 500 residential lots, or $30,000 per lot. Property Location: NEC & NWC of Kenneth Dr. & Bristleridge Dr., also fronts W/S Meridian Village Parkway Property Description: Vacant land Land Size: 4.85 acres Sales Price: $1.94M, or $55,509 per lot, or $9.10 per sf Closing Date: 4/8 Reception No.: 2015020152 Grantor: Bradbury MV Dev Corp (Thomas H. Bradbury Jr., pres.), 303-708-1105 Grantee: KB Home Colorado, 7807 E. Peakview Ave., Ste. 300, Centennial Comments: Lots 1-35, Meridian International Business Center Filing No. 7G, 1st Amendment, see 2015013424 & plat recorded 2015013279. Average size lot is 6,035 sf. Applicant to pay $500 per lot for Douglas County School District Property Location: Northwest corner C-470 & Erickson Blvd. Property Description: Vacant land Land Size: 2.66 acres Sales Price: $1.5M, or $12.93 per sf Closing Date: 4/15 Reception No.: 2015024281 Grantor: LC West LLC, Mark J. Kerslake, mgr.), 26 Corporate Plaza, Ste. 260, Newport Beach, CA 92660 c/o Province Group, 949-553-4800 Grantee: Propel Development LLC, 425 Soledad, 4th floor, San Antonio, TX 78205, Attn: Brent Adcock & Hans Lindberg, mgr., 210-446-3230 Comments: Buyer plans to build hotel on this site. Property Location: E/S Roxborough Park Rd., ¼ mile north of Titan Rd., Unincorp Property Description: Vacant land Land Size: 35 acres Sales Price: $1.4M, or $40,000 per acre Closing Date: 4/8 Reception No.: 2015022451 Grantor: ARS Sand & Gravel Co. LLC (Kim R. Haarberg, mgr.) Grantee: Highland Investments LLLP (Roxanne Fie Anderson, mgr.), Bow Mar, CO Comments: Buyer owns adjoining land. Property Location: 10270 Dransfeldt Rd., Parker Property Description: 15,720-sf warehouse, YOC 1984, fractured-block constr. Land Size: 1.03 acres Sales Price: $1.35M, or $85.88 per sf Closing Date: 4/7 Reception No.: 2015024260 Grantor: SW Properties LLC (Thomas M. Schlender, mgr.) Grantee: Wyldsky LLC (Charles & Meegon Reilly, mgrs.), 720-851-5758 Financing: $900,000 payable to Citywide Banks Comments: Property is leased to ServPro (10,448 sf) & Greg’s Automotive Repair (5,272 sf). The transaction was handled by Nick Nickerson, 303-968-6183, and Mitch Trevey, 303-619-7192, and sold on an “going-in” cap rate of 7.7%. There are 4 drive-in doors. Buyer is a long-term investor and owns Ponderosa Petroleum. Property Location: NW/S Meadows Parkway, 200’ NE of Factory Shops Blvd., Castle Rock (Part of New Castle Rock Mall) Property Description: Vacant land, proposed Kneaders Bakery & Cafe Land Size: 43,298 sf Sales Price: $1.15M, or $26.56 per sf Closing Date: 4/16 Reception No.: 2015024656 Grantor: SEA Green Juniper LLC by: Alberta Management, Donald G. Provost, mgr. Grantee: FFG Development LLC, 871 S Automall Dr., American Fork, UT 84003 Comments: Buyer is the Four Foods Group Holding, 801-642-3800, and it specializes in the Kneaders Bakery & Café. It opened its first Bakery and Café in Parker in September 2014.
Property Location: 10422-10460 Town Center Dr. Property Description: 222,300-sf shopping center, YOC 2006 Land Size: 26.49 acres Sales Price: $57.1M, or $256.86 per sf Closing Date: 4/10 Reception No.: 2015036588 Grantor: Pine Tree Westminster LLC, c/o Pine Tree Commercial Realty, 40 Skokie Blvd., Suite 640, Northbrook IL 60662, Peter Borak, pres., 847-574-3333 Grantee: IVT Walnut Creek Westminster LLC, c/o IA Acquisitions Corp., (G. Joseph Cosenza, pres., 630-218-4948, joe@inlandgroup.com) Comments: Listing brokers Matt DeBartolomeis and Jon Weisiger of CBRE handled the leasing prior to closing. There was 61,354 sf available at time of sale with 36,806 sf contiguous, with rates at $25 per sf NNN on smaller spaces. Shadow-anchored by 173,100-sf Super Target. Some of the major tenants include T.J. Maxx, containing 50,194 sf; PetSmart has 27,135 sf; Michaels is leasing 20,597 sf; Golf Galaxy occupies 15,331 sf; Dollar Tree has 10,000 sf; Hacienda Colorado leases 7,671 sf; while Road Runner Sports occupies 7,153 sf. Buffalo Wild Wings has 5,601 sf, while LA Boxing leases 4,718 sf & Chase Bank has 4,310 sf.