This Week’s Denver Deal Sheet
A new hotel called Hotel Polaris near the U.S. Air Force Academy in Colorado Springs topped out this week. The hotel sits on a 57-acre property and includes 375 guest rooms.
The hotel includes amenities such as a flight simulator, views of Pike’s Peak and three restaurants. There is also approximately 26K SF of meeting space in the hotel.
The property is owned by a subsidiary of Provident Resources Group and will be managed by CoalTree Hospitality, which also owns The Magnolia in Denver and Hotel Columbia in Telluride.
PEOPLE
Partner Valuation Advisors named Shawn James O'Connor the firm’s next executive vice president. O’Connor has more than 23 years of experience in senior housing and healthcare real estate. He previously worked for Cushman & Wakefield and JLL in their valuation teams.
SALES
Colorado-based NextGen Properties purchased a 51.5K SF office building at 384 Inverness Parkway in Englewood from San Francisco-based Graham Street Realty for an undisclosed sum. The building was renovated in 2019, according to a press release. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller in the transaction.
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An undisclosed buyer purchased for $2.1M a portfolio of properties in Englewood that includes a 12K SF, 1.8-acre plot and a half-acre plot. NavPoint Real Estate Group’s Matt Kulbe represented the buyer, while Unique Properties’ Brett MacDougal, Michael Desantis and Hudson Cramer represented the sellers, Umatilla Land Corp. and 11489 Corp.
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RCI Hospitality Holdings Inc. purchased an 8,500 SF retail building at 1400 Arapahoe St. in Denver for $4.45M. NAI Shames Makovsky’s Dorit Fischer, Hayden Hirschfeld and Jonathan Power represented the seller.
LEASES
Relic Automotive Designs leased more than 17K SF at 701 Topeka Way in Castle Rock for three years. NavPoint Real Estate Group’s Jeff Brandon and Charlie Davis represented the tenant in the transaction.
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Jirson, Hendricks & Associates, a structural engineering firm, leased more than 4K SF of offices at 8490 East Crescent Parkway in Greenwood Village for six years. NavPoint Real Estate Group’s Brent Ham represented the tenant.
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BRDG Project, a community art gallery, leased 8,600 SF at 3300 Tejon St. in Denver for five years. NavPoint Real Estate Group’s Matt Kulbe represented the tenant.
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Law firm Springer, Steinberg, Giacomini, Burstein and Holycross PC leased a 13.4K SF office at 1400 South Colorado Blvd. in Denver for 10 years. Avison Young’s Caitlin Ellenson, Joe Serieno and Chad Alexander represented the owner.
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Kaiser Permanente extended its lease at 6550 and 6560 Greenwood Plaza Blvd. in Englewood for more than 120K SF of Class-A office.
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Aptness Inc., a digital advertising agency, leased 3,400 SF at 1948 West 14th Ave. in Denver. NAI Shames Makovsky’s Dorit Fischer and Hayden Hirschfeld represented the landlord, Revesco Properties.
CONSTRUCTION AND DEVELOPMENT
Saunders Development completed construction of two 80K SF industrial buildings in North Castle Rock, and two tenants, Lakewood Electric and Colorado Powerline, have moved into one of the buildings. NavPoint Real Estate Group’s Jeff Brandon and Charlie Davis are in charge of the leasing operations for both buildings.
