This Week’s Denver Deal Sheet (December 12, 2023)

This Week’s Denver Deal Sheet (December 12, 2023)

[ad_1]

OCC Industrial, a newly formed real estate investment and development firm specializing in industrial and warehouse properties, acquired more than 31 acres in Arvada to develop a four-building, 350K SF industrial campus called Candelas Innovation Park.

Placeholder

Courtesy of CBRE

Rendering of Candelas Innovation Park

OCC acquired the property from Cimarron Commercial, and the seller was represented by CBRE’s Jeremy Kroner. Kroner and CBRE’s Jim Bolt are also the leasing agents for the property. The first of the buildings is expected to be delivered in Q4 2024. 

“This land acquisition is a rare opportunity to develop an innovation park in the land-constrained West and Northwest industrial submarket in Denver. Situated along the front range, Candelas Innovation Park will attract high-end users from Boulder, Denver, and Golden,” OCC Chief Financial Officer James Carolan said in a press release. 

The acquisition comes as Jefferson County residents are pushing back against increased industrial development, including a proposed three-building development near Hyatt Lake.

SALES

A 17-unit multifamily property at 310 West Archer Place in Denver sold for $4.2M, or roughly $274K per unit. NorthPeak Commercial Advisors’ Joe Hornstein and Scott Fetter represented both the buyer and seller.

***

NorthPeak Commercial Advisors brokered the sale of an 11-unit multifamily property at 2446 Clay St. in Denver for $2.2M. NorthPeak’s Kevin Calame and Matt Lewallen worked with the buyer while the seller was represented by The Henry Group. 

***

DAMF Realty LLC purchased roughly two-thirds of an acre at 1331 North Bannock St. in Denver for roughly $5.3M. Newmark’s Kittie Hook represented the buyer in the transaction. 

***

DAMF Realty LLC purchased a 9K SF office space at 1321 North Bannock St. for a little more than $8M. Newmark’s Kittie Hook represented the buyer. 

***

The Other Side Academy Denver purchased a multifamily building from the state of Colorado for $1.6M. Newmark’s Kittie Hook represented the buyer while JLL represented the seller.  

***

A 6K SF industrial property at 1330 South Cherokee St. in Denver sold for $1.4M. NAI Shames Makovsky’s Craig Myles represented the seller, Norma I Gerber Revocable Trust. 

LEASES

Scram Systems, maker of sobriety detection devices, leased more than 25K SF of office space at Greenwood Corporate Plaza, a newly renovated office park in Greenwood Village. CBRE’s Mitch Bradley, Lindsay Gilbert and Megan Strauss represented the landlords, Viking Partners and Bancroft Capital. CBRE’s Harrison Archer and Ryan Link represented the tenant. 

***

National insurance firm AssuredPartners extended and expanded its lease at Stanford Place III, a 17-story Class-A office building at 4582 South Ulster St. in the Denver Tech Center. The insurer moved from the sixth floor to the 15th floor and now occupies more than 21K SF within the building. CBRE’s ​​Ryan Link, Harrison Archer, Rob Link and Kiana Akina represented the insurer. 

***

MIH2 USA Inc. leased 6K SF of office space at Miner’s Point, at 701 12th St. in Golden. Newmark’s Brian Wingate, Victor Frandsen, Tim Harrington, Alan Polacsek, Charles Sutherland, Manuel Breidenbach and Eddie Kane represented the landlord. 

***

Kyle Enterprises LLC extended its sublease of 10K SF of office space at Edge 470 at 14820 Compark Blvd. in Parker. Newmark’s Sam DePizzol and Ben Klimesh served as a sublandlord representative while brokers from Gibbons-White Inc. represented Kyle. 

***

Always Training LLC leased a 4K SF retail space at 250 East Dry Creek Road in Littleton. NAI Shames Makovsky’s Jonathan Power represented the tenant.

[ad_2]

Source link