News

Specialty outdoor retailer REI Co-op will open a store at The Marketplace at Centerra in Loveland summer of 2024. REI’s presence in Colorado began in 1983 with its first store in Denver. Loveland will be the co-op’s tenth location in the state. “REI’s presence in Colorado began in 1983 with our first store in Denver. Loveland will be our tenth location in the state,” said Janet…

ENGLEWOOD – A boutique office building in Inverness Business Park has found a new owner. San Francisco-based Graham Street Realty sold the 51,527-square-foot building to Greenwood Village-based NexGen Properties in an all-cash transaction for an undisclosed price. The two-story multitenant asset located at 384 Inverness Parkway sold “well below replacement cost,” according to a press…

ENGLEWOOD – A local real estate firm has acquired an office property from a private, San Francisco-based real estate investment firm. Broomfield-based Certus bought the multitenant Pyramid Pointe office building, located at 9777 Pyramid Court, from Graham Street Realty for $9.9 million, according to public records. The asset was 78% leased at the time of…

Greenwood Village-based NexGen Properties, a private real estate acquisition, development, and investment firm, has purchased a 51,527-square-foot two-story, multi-tenant boutique office building located at 384 Inverness Parkway, in an all-cash transaction for an undisclosed price well below replacement cost. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller San Francisco-based Graham Street Realty in the sale. Constructed in…

The correlation between interest rates and capitalization rates has always been obvious to our industry. As interest rates move, cap rates follow in the same direction. The degree to which they fluctuate- in concert with one another is nuanced and depends on risk assessments or supply and demand forces. Similarly, there is correlation between the…

Sale/Acquisition of the Year for Colorado Springs Flywheel Capital executed the $54.3 million sale of this two-building portfolio, known as the InterQuest complex, after a prolonged and ultimately successful renovation and re-leasing campaign. Flywheel Capital acquired the pair of nearly vacant properties in September 2018. The two buildings, which sit at 10125 and 10205 Federal Drive, were originally…

The Shops at Riverfront Park in downtwon Denver has sold for $11.8 million, or approximately $370 per square foot. The sale of the 31,898-square-foot multi-tenant asset — located at the base of three condo buildings — included the entirety of the commercial/retail space located within the Riverfront Park neighborhood. The buyer was a local private…

COLORADO SPRINGS – A 289,018-square-foot Class A flex portfolio is under new ownership in Colorado Springs. The asset, comprising the two adjacent buildings at 10125 and 10205 Federal Drive, recently sold to an undisclosed private partnership for $54.3 million. Cushman & Wakefield’s Aaron Johnson and Jonson Hendrickson brokered the transaction on behalf of the seller,…

COLORADO SPRINGS – Investment company Crescent Real Estate sold the final piece of a 1 million square foot office portfolio in Colorado Springs. Since 2019, Crescent Real Estate has sold the 13-building portfolio as individual buildings or micro-portfolios to multiple buyers, and the last remaining building in the portfolio recently sold. The entire asset traded…

WESTMINSTER – A shopping center in Westminster traded hands. Willow Run, the 91,565-square-foot shopping center at 12900-12910 Zuni St., recently sold for $10.9 million, or nearly $120 per sf. CentrePoint Properties acquired the asset from Willow Run Investors LLC, an entity operated by Gart Properties, which owned the center since 2013. Cushman & Wakefield’s Jon…