CREJ

MAY 2-15, 2018 Featured Quarterly Signing up Cigna leases 135,800 square feet at Colorado Center Tower 3 Inside 4 18 Ballroom blitz The Mission Ballroom, a scalable, state-of-the-art concert venue, will debut in RiNo next year 14 Buying in ANew York City-based buyer makes its first Colorado acquisition with its purchase of the Links at Plum Creek 10 ‘Rock block ACastle Rock company buys one of the largest blocks of industrial space in town by Jill Jamieson-Nichols Central Development is look- ing to stay ahead of the curve with its $10.34million purchase of a high-profile Denver indus- trial property. The Denver-based company bought the former Robinson Dairy site, which consists of 97,931 square feet on 5.5 acres at the northwest corner of West Sixth Avenue and Interstate 25. The property sits at the south- ern edge of the Sun Valley neighborhood, which is poised for redevelopment. “We just knew the area was going to be redevel- oping. We looked at the field and saw where all the players were and what was hap- pening. We were trying to stay one step ahead of where the masses are,” said Central Development Principal Jeremy Records. The Robinson family sold the property. Dean Foods has a master lease on the site, which is subleased to other ten- ants. There are four buildings, including a 52,523 food-pro- duction facility at 2401W. Sixth Ave., a 37,253-sf warehouse at 677 N. Alcott St., a 5,455- sf office at 646 Bryant St. and a 2,700-sf, currently unused, office/food storage building at 2534W. Sixth. “We have multiple avenues to go on this. It seems like all the tenants want to stay, so get- ting new leases with them is an option. We can bring some- body else in for a larger cam- pus environment, or it could be a redevelopment play,” said Records. Discussions with the tenants are underway. Cushman & Wakefield bro- kers Alec Rhodes, Tyler Smith and Aaron Valdez represented Buyer sees rich potential in former dairy site by Jennifer Hayes It’s a sale for Colorado Springs’ record books. Ohio-based White Oak Partners, a private real estate investment firm, purchased the Vue21 apart- ment property for the high- est total sales price and highest per-unit price ever achieved for a multifamily asset in Colorado Springs. According to public records, White Oak Part- ners, under the name WOP Vue21 LLC, paid $77.6 mil- lion, or $240,993 per unit, for the 322-unit commu- nity at 4610 Nautilus Peak View in its first Colorado purchase. “Vue21 is one of the most unique properties in Colo- rado Springs – a Class A, well-located asset with good demographics in the path of growth and with immediate rent upside,” said Kevin McKenna of ARA Newmark, who, with ARA’s Saul Levy, repre- sented California-based Passco Companies LLC in the sale of the asset. Vue21 trades for record $77.6 million The Vue21 apartments sold at the highest total sales price and highest per-unit price ever achieved for a multifamily asset in Colorado Springs. Please see Vue21, Page 33 The former Robinson Dairy property is at the northwest corner of West Sixth Avenue and Interstate 25. Jeremy Records Please see Dairy, Page 12 CONTENTS Office 4 Indutrial 10 Multifamily 14 Retail 18 Rebchook RE Corner 22 Boulder County 24 Larimer & Weld Counties 24 Colorado Springs 25 Finance 26 Law & Accounting 28 Property Management 29 Who's News 32

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