This Week’s Denver Deal Sheet
Unique Properties/TCN Worldwide brokered the sale of 1425 Market St. in downtown Denver for $4.7M.
The seller was represented by Unique Properties CEO Sam Leger and Senior Broker Associate Graham Trotter. The firm did not disclose the property's buyer or seller, but public records filed in Denver County indicate the seller was an entity affiliated with A.J. Zabbia.
The buyer was an entity created by Campbell Killan Brittan & Ray, a commercial law firm in Cherry Creek.
The 17K SF office building was renovated in 2015 with open floor plans.
SALES
Pinnacle Real Estate Advisors brokered the sale of 6465 W. 38th Ave. in Wheat Ridge for $5.3M, or $220K per unit. The 24-unit multifamily property was built in 1962. The buyer assumed the seller’s existing debt, which had seven years of term left, fixed at 3.14%.
PEOPLE
Parker-based i2Construction added two new partners, Abby Nuetzel and Ken Botkin, to its ownership team. Nuetzel, the company’s director of preconstruction, joined i2Construction in 2021. Botkin, the company’s director of field operations, joined the company in 2015.
CONSTRUCTION AND DEVELOPMENT
LaPour Partners acquired a 6.34-acre parcel in southwest Denver with plans to build a multitenant light industrial project. The site, in Creekside Centennial Tech Center, is just north of Arapahoe Road.
Among other amenities, the 63K SF, single-building project will have 24-foot clear heights, 16 dock doors, eight drive-in doors, 2,500 amps of power and a parking ratio of three per 1K SF. LaPour says it will break ground on the project this June, with an estimated completion in April 2025.
FINANCING
CVS Health has invested $19.2M through Boston Financial to build 85 new affordable housing units in Arvada. The company is collaborating on the project with Family Tree, a nonprofit human service agency, and Blueline Development, an affordable housing firm. Family Tree has owned the site at 5549 Marshall St., now renamed “Marshall Street Landing,” for more than 25 years.
Marshall Street Landing will offer mental health and substance use counseling via the Jefferson Center for Mental Health, with other services such as crisis assistance and life-skill educational programming provided by Family Tree.
Every unit at Marshall Street Landing will be fully furnished. The site also includes laundry rooms, a picnic area, community parking and controlled access to the property. Construction on the project is underway, with its completion expected during the summer of 2025.
THIS AND THAT
Eight Colorado hotels have been awarded the prestigious Michelin Keys as part of the Michelin Guide’s announcement of the most outstanding hotels in the U.S., The Denver Post reported.
Of the Colorado hotels awarded One Key status, three — Hotel Jerome, Mollie Aspen and the Little Nell — are in Aspen.
Two others, the Four Seasons and Sonnenalp Hotel, are in Vail. There are also three Michelin Key hotels in Denver, Clayton Hotel & Members Club, Four Seasons Denver and The Crawford Hotel.
