Colorado Real Estate Journal - January 6, 2016
An unidentified real estate investment trust recently paid $12.26 million, or $217 per square foot, for a Gold’s Gym in Grand Junction. “The property is one of the highest-performing Gold’s Gyms in the nation and the only full-service fitness center in the region,” said Lior Regenstreif, who handled the transaction. Regenstreif is a first vice president-investments in Marcus & Millichap’s office in Encino, California. “Almost 40 percent of the population in the immediate area is between the ages of 18 and 45, which is the ideal demographic for a fitness center,” he added. The gym, at 700 Maldonado St., was built in 2007. Other News Denver-based Silverwest Hotels recently opened an 88-room hotel in Silverthorne that it developed. Silverwest owns and operates the Hampton Inn & Suites by Hilton, which is the only Hampton Inn that serves the nearby Summit County ski resorts of Breckenridge, Keystone, Arapahoe Basin and Copper Mountain. “We are excited to bring this nationally recognized Hampton by Hilton brand to Silverthorne,” said Edward Mace, president and CEO of Silverwest Hotels. The hotel was Silverwest’s second hotel to open near a Colorado ski area in less than 10 days. It also opened the Element by Westin in Basalt, near Aspen and Snowmass. An investment group led by two Denver-based companies, Providence Hospitality Partners and Rockies Lodging Capital, recently purchased a 66-unit Marriott Fairfield Inn & Suites in Steamboat Springs. The sales price was not disclosed, although the hotel had recently undergone a $1 million renovation. It is the only Marriott-branded hotel in Steamboat Springs. The acquisition represents a “value-add” investment opportunity, according to David B. Storm, president and CEO of Providence.