This Week’s Denver Deal Sheet
Two retail properties at the intersection of Interstate 25 and East Woodmen Road in northern Colorado Springs were purchased by a private real estate trust for a combined price of $9.98M as part of a 1031 exchange, CBRE announced this week.
The two properties are the Floor & Decor outlet store at 6867 Crest Hill View and a 4,400 SF Maverick gas station at 6955 Campus Drive. The Maverick gas station was built in 2021, and the Floor & Decor outlet was completed this year, CBRE said in a press release.
“We targeted properties that offered a high degree of security and a lower cost on a per-square-foot basis—not an easy task as pricing per square foot climbs amid record low retail availability,” CBRE Vice President Jason Ortiz said in a press release. “In this case, the combination of the smaller footprint gas station and larger footprint, brand-new construction big box store led to a blended price per square foot that fit the bill perfectly.”
PEOPLE
Lee & Associates hired Ray Rosado as a principal at the firm. Rosado previously worked at Cushman & Wakefield as a senior director in the Colorado market, where he was recognized as the firm’s top retail broker on multiple occasions and received the top three retail broker recognition for the Denver metro area from the Denver Metro Commercial Association of Realtors and NAIOP multiple years in a row.
***
Avison Young hired Stuart Hope as a new associate in the firm’s hospitality division, where he will be responsible for leading the firm’s investment sales in high-end hotel properties across the Mountain West region. Hope previously worked in Atlanta as a hospitality and land development specialist.
SALES
The Summer Valley Shopping Center, a 95.6K SF retail center at the corner of South Buckley Road and Quincy Avenue in Aurora, sold for $20M this week. Cushman & Wakefield’s Jon Hendrickson, Aaron Johnson and Mitch Veremeychik represented the seller, Arbor Plaza LLC.
***
NavPoint Real Estate Group brokered the sale of a two-building industrial and flex space at 4900-4910 Iris St. in Wheat Ridge. The property includes about 5K SF and sits on half an acre. NavPoint Real Estate Group’s Mike Quinlan represented the buyer, Moku LLC, while Unique Properties Inc.’s Brandon Paxton represented the seller.
LEASES
Actuate Facility Technologies leased a 2,100 SF office space at 1401 Zuni St. in Denver for three years. SVN Real Estate’s Liz Leder represented the tenant, while Josh Pons with Newmark represented the landlord.
***
Americans for Prosperity, a political action group, leased 3,600 SF at 10190 Bannock St. in Northglenn for an undisclosed period of time. SVN Real Estate’s Bill Reilly and Jack Reilly brokered the deal between the landlord, a joint venture between Ramos Law and Reliable Power, and the tenant.
***
J Beauty Studio leased more than 2K SF at 18801 East Main St. in Parker. SVN Real Estate’s Oxana Eremiants represented the tenant, while Jeremy Reeves with Colliers represented the landlord.
***
Super-Tech Filter leased 2,200 SF of industrial space at 2669 South Tejon St. in Englewood. SVN Real Estate’s Jack Reilly represented the tenant, and Steve Cummock with Northpeak Commercial Advisors represented the landlord.
***
Spirit Halloween, the seasonal retail store, leased two buildings at 407 and 411 South Broadway in Denver. The two buildings combine for a total of 12K SF. NAI Shames Makovsky represented the tenant.
