This Week’s Denver Deal Sheet
Ferguson Enterprises leased 135K SF in 25 North, a 70-acre master-planned industrial development in Thornton.
EverWest Advisors LLC and Invesco Real Estate are the developers on 25 North, which is under construction now. Building 6, which Ferguson will inhabit at 14827 Grant St., is scheduled for completion in the first quarter of 2024. When complete, the entire development will include 935K SF in nine Class-A industrial and flex buildings.
Including Ferguson, the six buildings currently under construction are 42% leased, according to a release from Cushman & Wakefield's Denver office. Cushman's Steve Hager, Matt Trone and Joey Trinkle represented the landlord, while CBRE's Jeremey Ballenger, Jessica Ostermick and Tyler Carner represented the tenant.
SALES
A 12.3K SF industrial building at 3701 South Kalamath St. in Englewood was sold for $1.72M to an unknown buyer. Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors represented the buyer and seller in this transaction.
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A six-unit, 5.5K SF multifamily building at 11660 West 16th Ave. in Lakewood changed hands for more than $1.1M. Dan Hawthorne of NorthPeak Commercial Advisors represented the seller.
PEOPLE
Reinhart Boerner Van Deuren, a real estate law firm with offices in Denver, added lawyers Jennifer Stenman and Amy Ruhl to its staff as shareholders. The law firm advises its commercial real estate clients on acquisitions, dispositions, development and financing transactions.
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The Broe Group, a privately owned real estate investment firm, named Chris Tecu as senior vice president of industrial development at its Denver office.
"This new hire is a strategic addition to address a clear market need — the intense demand for paired rail and real estate projects driven from a surge of domestic onshoring activity," Douglas Wells, who runs Broe Group’s real estate arm, said in a press release. "Chris brings the expertise, relationships, and insights to serve this key segment."
LEASES
Goodwill of Colorado signed a new lease on a 32K SF retail space in the Marshalls Plaza at 1741-1915 28th St. in Boulder. Scott Worrell of Newmark Denver represented the tenant.
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Monolith Materials Inc., a renewable energy company, leased a 26.6K SF industrial space at 345 Inverness Drive in Englewood. Jason Addlesperger, David Lee and Philip Lee of Newmark Denver represented the landlord.
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TTEC Services Corp., a customer experience technology company, subleased a 17K SF office from Red Robin Inc. at 6312 South Fiddlers Green Circle in Greenwood Village. Jim McGrath of Newmark Denver represented TTEC.
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Pingora Asset Management and Fidelity National Title Insurance extended their office leases this week. Pingora will continue to lease 7.9K SF of office space at 1819 Wazee St. in Denver. Fidelity will continue to lease its more than 3.6K SF office at 7125 West Jefferson Ave. in Lakewood.
Newmark Denver’s Clay Jones represented Pingors, while Newmark’s Jonathan Tilton and David Lee represented Fidelity.
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Workato Inc., an automation technology company, leased more than 2K SF of office in Denver’s trendy River North business district. Andrew Blaustein, Mike Saign, Caroline Nowack, Mike Courson and Josh Pons of Newmark Denver represented the tenant.
