This Week’s Denver Deal Sheet
The old Holiday Shopping Center at the southwest corner of West 10th Avenue and Sheridan Boulevard in Lakewood was demolished July 25 to make way for a seven-story, 361-unit apartment complex that is expected to include one level of underground parking, a pool, a full-sized fitness center and multiple public amenity spaces, according to a press release.
Holiday was acquired by Trailbreak Partners in October 2021, along with 2.5 acres that will be used for the new development.
“This demolition really creates progress for the community by removing a longstanding negative impact on the neighborhood,” Lakewood Mayor Adam Paul said in a statement. “I’m thrilled to see this innovative economic development pilot program for addressing vacant buildings in the city get underway.”
PEOPLE
Kellen Dick joined CBRE’s Denver office as the firm’s next vice president of debt and structured finance. Dick previously worked at Collegiate Peak Banks where he led the bank’s commercial real estate lending, underwriting, risk analysis and loan portfolio management team.
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Paola Larios joined Studio K2 Architecture this week as architectural designer and project manager. Larios is a former Studio K2 intern who is joining the firm after graduating in May from the University of Colorado Denver College of Architecture and Planning.
SALES
Altus Properties, a St. Louis-based real estate investment firm, purchased a 97K SF Class-A industrial space at 10205 Federal Drive in Colorado Springs for an undisclosed sum. The property is 100% leased and serves as the headquarters for a Valmont Industries subsidiary called ConcealFab Corp. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller in the transaction.
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The MCC Amigos LLC purchased a 13.9K SF industrial space at 2896 West 64th Ave. in Denver for $2.25M. Newmark’s Mike Viehmann represented the buyer.
LEASES
Boulder Baked leased a 1,150 SF retail space at a new mixed-use development in Superior called Origin at Downtown Superior. CBRE brokers Molly Bayer and Melissa Moran arranged the lease and are representing the project’s developer, Carmel Partners, in leasing the rest of the development’s retail space.
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St. Paul Fire & Marine Insurance Co. extended its lease at a 43K SF industrial space at 4350 Kearney St. in Denver. Newmark’s Mike Wafer Jr. represented the tenant.
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North Shore Energy LLC extended its lease at an 11.7K SF office space at the Gogo Building at 105 Edgeview Drive in Broomfield. Newmark’s David Hart and Savannah Reese-Hart represented the tenant.
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InBank signed a new lease on a 7,400 SF office at The Current at 3615 Delgany St. in Denver. Newmark’s Andrew Blaustein, Jamie Gard, Tim Harrington, Victor Frandsen, Alan Polacsek, Josh Pons, Caroline Nowack, Charles Sutherland, Manuel Breidenbach, Eddie Kane and Morgan Sturgeon represented the tenant.
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The Marketing Practice Inc. signed a new lease on a 6,300 SF office at 1125 17th St. in Denver. Newmark’s Andrew Blaustein, Josh Pons and Caroline Nowack represented the tenant.
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Precise Roofing LLC signed a new lease on a 1,500 SF office in Greenwood Village’s Financial Plaza, Building B at 7720 East Belleview Ave. Newmark’s Keith Bell, Peter Staab and Cathy McDermott represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Redmond Construction, a commercial general contracting firm headquartered in Chicago, opened a new office in Denver this week. The office will be led by Mark Fenton and Giacomo Tusa, who are relocating from the firm’s Chicago location.
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GoodVets began construction on its newest office at 1615 Platte St. in Denver’s Lower Highland neighborhood. The 2,100 SF office is expected to open in October 2023.
THIS AND THAT
Aspen’s historic Hotel Jerome was recognized as the No. 1 hotel in Colorado, the No. 3 resort in the U.S. and the No. 13 hotel in the world by Travel + Leisure Magazine. The 131-year-old hotel has 99 rooms and is on the National Register of Historic Places.
