MAY 15-JUNE 4, 2019 Buying time Prologis pays $12.2 million for a well-known Denver infill property INSIDE New & improved Etkin Johnson sells a reinvented Lookout Business Center for $10.5M On board Greyhound’s downtown Denver block hits the market 4 26 16 FEATURED Iconic One of Denver’s “iconic” apartment buildings sells 10 CONTENTS Office 6 Multifamily 10 Retail 14 Industrial 16 Boulder County 26 Larimer & Weld Counties 28 Colorado Springs 31 Colorado 32 Law & Accounting 36 Finance 38 Who's News 44 CDE News 2AA by Jill Jamieson-Nichols An Austin, Texas, compa- ny invested $89.9 million in 632,416 square feet of Class A office space on the U.S. High- way 36 corridor in Westmin- ster. CapRidge Partners LLC, an operating partner to insti- tutional capital, secured four buildings in Westmoor Tech- nology Park in deals involving two sellers. Investcorp sold Westmoor Place, a three-building cam- pus that comprises Westmoor Buildings 8, 9 and 10, for $71.1 million. Located on 26 acres at 11000, 11300 and 11400 West- moor Circle, the buildings account for 428,029 sf of office space with a combined occu- pancy of 79%. TDAmeritrade Online Hold- ings Corp. sold Building 7, the former Scottrade building, for $18.8 million. The 204,387-sf building, located at 10955West- moor Drive, is vacant. Westmoor Technology Park is equidistant between Den- ver and Boulder, allowing it to access a third of the entire Denver metro work- force within 30 minutes, CapRidge notes on its web- site. Adding Building 7 to the portfolio opens the possibility for tenants in the other build- ings to grow, or to attract one or more large tenants. Owning all four buildings also eliminates a CapRidge buys Westmoor assets for $89.9M by Jennifer Hayes A Miami-based global real estate development and invest- ment firm purchased a 4.1-acre parcel at the base of Peak 8 in Breckenridge. The buyer plans to develop a branded full-service hotel with 150 keys to be managed by Vail Resorts’ hospitality divi- sion, approximately 35 wholly owned residential condomini- ums, a spa and fitness center, a restaurant, bar and lounge, meeting space and parking. Vail Resorts sold the parcel, adjacent to One Ski Hill Place, to Lionheart for $10.9 million, according to public records. “We’re pleased to be sell- ing the East Peak 8 site to a prominent global developer with extensive experience in luxury hospitality and brand- ed residences, and are looking forward to seeing Lionheart’s vision for the parcel come to life,” James O’Donnell, execu- tive vice president of hospi- tality, retail and real estate at Vail Resorts, said in a release regarding the land sale. “The development will be a true asset to locals and guests from around the world.” “Following Lionheart’s tra- dition of embracing the com- munities where we do busi- ness, we intend to keep work- ing with the town to bring a very special project to Brecken- ridge,” added Ricardo Dunin, founding partner of Lionheart Capital. “Having developed properties such as Le Sereno Hotel in St. Barths and two Ritz-Carlton projects in South Florida, we are thrilled to be adding a mountain resort to our portfolio. We are also con- fident that Vail Resorts’ exper- tise in managing properties in mountain destinations will be a great benefit to guests of the hotel and our condominium owners.” The East Peak 8 project, a ski- in, ski-out site, is envisioned as a part of the Breckenridge Peaks 7 and 8 Master Plan. The redevelopment of the site from what currently includes the Breckenridge Ski Resort administrative building will complete the series of develop- ments and improvements at Peak 8. Breckenridge Ski Resort boasts five peaks, 2,908 acres, four terrain parks, a 22-foot Superpipe, 11 bowls andNorth America’s highest chairlift. Additional details regard- ing the development will be announced in the coming weeks. ▲ Lionheart plans hotel, condos at Peak 8 base The project at the base of Peak 8 in Breckenridge will include a 150-key, full-service hotel. Austin-based CapRidge Partners paid $71.1 million for Westmoor Place, a three-building campus. It also bought a vacant building across the street. Please see CapRidge, Page 26