This Week’s Denver Deal Sheet
Newmark arranged the sale of a 230-unit age-restricted apartment complex in Lakewood known as Avienda Lakewood for an undisclosed amount. Newmark’s Ryan Maconachy, Chad Lavender, Courtney Crowder and Jack Kachadurian all represented the seller. The buyer was The Bascom Group, a real estate investment company in Lakewood.
PEOPLE
The Insight Group, a global flexible workspace provider, appointed industry veteran Ben Wright as the company’s new executive director of partnerships. Wright previously co-founded flexible workspace company Upsuite and developed SquareFoot’s flex location service practice.
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Savills added Matt Anderson and Matt Emmons as managing directors. Anderson will help the brokerage build out its office sector, while Emmons works to expand the company’s industrial footprint.
SALES
RealSource Group, a national commercial real estate brokerage, sold a 5.3K SF Grease Monkey auto shop in Monument, Colorado, to a private investor for approximately $3.1M. The site includes an express car wash and lube center. The sale price is one of the highest ever fetched for a Grease Monkey property.
LEASES
Denver-based law firm Sherman & Howard LLC expanded its lease at 675 15th St. by nearly 20%, bringing its total lease up to more than 72K SF.
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Henderson Cos., the employee-owned parent company of Henderson Engineers and Henderson Building Solutions, leased more than 4.8K SF of office space in Denver’s historic Ghost Building at 800 18th St. in the Upper Downtown neighborhood.
CONSTRUCTION AND DEVELOPMENT
Denver-based development firm Kentro Group broke ground on a 151-unit deed-restricted affordable housing project in Denver’s Cory-Merrill neighborhood. The project, known as The Krisana Apartments, includes 21 studio, 71 one-bedroom and 59 two-bedroom apartments and is located on the former Colorado Department of Transportation headquarters site.
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King Soopers, a grocery chain owned by Kroger, will anchor a 21-acre development in the city of Fountain, Colorado, which is just south of Colorado Springs. The project is expected to open in 2025.
THIS AND THAT
Sage Hospitality Group entered into a master service agreement with Lefcon, an IT services platform, to upgrade the technology at its Denver headquarters and its more than 100 hotels and restaurants across the U.S.
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Broe Real Estate Group won a “best-in-class” design award from NAIOP for its 386K SF build-to-suit project in Mead, Colorado, that serves the Great Western Railway of Colorado and is operated by OmniTrax.
