This Week’s Denver Deal Sheet
ColeTaylor added three Class-A office properties in Denver to its property management portfolio this week totaling more than 464K SF in all. With the additions, the firm’s total square footage under management increased to more than 2.4M SF.
The additions include 300 University Blvd., a 61K SF office building in Cherry Creek North that is 100% pre-leased and scheduled to open this spring. The firm also added Centerra, a 200K SF office located at 1873 South Bellaire St. in Denver, and Riverview, a fully leased 202K SF office building at 1700 Platte St. in Denver.
"Having just celebrated ColeTaylor’s fifth year in business, the addition of nearly a half million square feet to our growing portfolio underscores both the trust that our clients continue to have in us and the market’s demand for local, personalized property management services,” ColeTaylor Partner Jessica Cole said in a press release.
PEOPLE
Kevin Phelan has joined Cushman & Wakefield’s office in Denver as a senior director of the firm’s multifamily division. Prior to joining, Phelan worked at firms like Capstone Cos. and CBRE.
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Harrison Archer was promoted to senior vice president of CBRE’s advisory and transactions team. Last year, Archer and his partners facilitated leases in 37 markets across the U.S.
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CBRE promoted Nic Carter to vice president of the firm’s industrial and logistics portfolio. Carter is a member of NAIOP’s Developing Leaders program and the Denver Metropolitan Commercial Association of Realtors. He has also worked on deals totaling $435M throughout his career.
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Charlie Mitelhaus joined CBRE as an associate in the firm’s capital markets division. Prior to joining, he worked at Pinnacle Real Estate Advisors where he specialized in working with private capital investors across Colorado.
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The Hispanic Contractors of Colorado appointed Alejandra “Ale” Spray as the organization’s first chief executive. Spray has been a HCC member for more than two decades and has volunteered as the organization’s committee chair, board of director and is the founder of the HCC Women in Leadership committee.
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Leighton Neff was promoted to chief preconstruction manager at Pinkard. He initially joined the firm in 2018 as a hybrid preconstruction manager and superintendent before joining the preconstruction department full-time in 2020.
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Mortenson hired Ruth Stabile as the firm’s new chief estimator. She has more than 25 years of industry experience and holds a civil engineering degree from Michigan State University.
SALES
Affiliates of Harbor Group International purchased a two-building multifamily portfolio comprising 434 apartments in metro Denver for $132.5M. The portfolio includes The Prospector Modern Apartments at 3360 Esker Circle in Castle Rock and Ladora Modern Apartments at 18590 E. 61st Ave. in Denver. The Prospector has 238 one- and two-bedroom units while Ladora has 196 units with one-, two- and three-bedroom floor plans.
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Recovery Works, a nonprofit in Lakewood that provides services and substance abuse counseling for people experiencing homelessness, purchased a 10K SF former motel located at 14825 W. Colfax Ave. for $3.5M. The nonprofit plans to use the site as a bridge center and resource for the unhoused in Jefferson County.
CONSTRUCTION AND DEVELOPMENT
Revesco submitted plans to convert a 16-story office tower at 475 17th St. in Denver to approximately 210 residential housing units. The plans include one- to three-bedroom floorplans, and the existing building includes ground-floor retail and a fitness center. Construction is expected to begin in Q4 2025.
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Howell Construction celebrated the opening of Arvada Residence Inn by Marriott, a four-story hotel in Olde Town Arvada with 128 guest rooms that include full kitchens. The hotel also includes a swimming pool, fitness center, commercial kitchens and meeting facilities.
