Alterra IOS Buys Denver-Area Outdoor Storage Sites: The Denver Deal Sheet
Alterra IOS bought two industrial outdoor storage spaces totaling more than 67K SF in Brighton and Colorado Springs.
Bespoke Holdings Co., represented by JLL Capital Markets, sold the properties at 995 N. Fifth Ave. in Brighton and 3240-3250 Astrozon Blvd. in Colorado Springs.
The Brighton property has 4,890 SF of industrial space on 4.6 acres fully leased to a major national equipment rental company. The facility was built in 1982 and features 14-foot clear heights and two drive-in doors.
The Colorado Springs location is 63K SF on 6.9 acres and leased to a lumber and building materials company. The building was originally constructed in 1981 but had improvements done in 2018. It features 18-foot clear heights and 10 drive-in doors. The property also includes railroad spur access.
The deal is Alterra IOS’ latest investment in outdoor storage, following purchases of properties in Los Angeles and Dallas this year.
SALES
A Kennedy Wilson fund purchased The Fletcher at Southlands, a 320-unit Aurora apartment complex, for $94.75M. Built in 2001, the three-story building sits on 23 acres and includes one-to-four-bedroom layouts, as well as amenities like a fitness center, pool, dog park and community game space.
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Villager Square, a Broomfield shopping center, sold to a local private investor in a $12.2M sale brokered by SRS Real Estate Partners.
SRS Capital Markets’ Ryan Tomkins represented the seller, a San Diego-based private investor. The acquisition is part of a 1031 exchange.
The shopping center at 6470–6650 W. 120th St. consists of 85K SF on 9.8 acres. Villager Square was 93% occupied at the time of the sale and features an Arc Thrift Store, food service and boutique retail businesses.
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The former Greg’s Auto Repair Building in Parker sold for $3.3M, and the new owner plans to lease the property to the auto repair company Crash Champions.
The building totals 9,100 SF on three-quarters of an acre at 10310 S. Dransfeldt Road.
The seller, Bellagnu Land Holdings, formerly Greg’s Auto Repair, was represented by Mitch Trevey and Nick Beach of Trevey Commercial Real Estate. Scott Churchley of Cresa represented the buyer, 10310 Dransfeldt LLC.
PEOPLE
Mission Rock Residential, a nationwide property management company, named a new chief executive.
CEO Patricia Hutchison is moving into a new role as chair of the board of directors in an advisory capacity through 2026, and President Meredith Wright will assume the role of CEO.
During Hutchison’s tenure, Mission Rock grew from fewer than a dozen employees to nearly 1,000 staff members managing more than 160 multifamily properties and more than 35,000 units across the country.
LEASES
Four new tenants will take over the ground-floor retail suites of 2563 15th St., completely leasing the space in Denver’s Lower Highland neighborhood.
Amie, a floral retail shop, signed the largest lease for 940 SF. The other tenants are Heavenly Greek, a coffee and ice cream shop, which leased 900 SF; Alterations and Tailoring, which leased 710 SF; and kitchen design studio Sanctuary Kitchen Design, which leased 900 SF.
Henry Group Real Estate’s Amanda Tompkins and Pat Henry represented the landlord, 2563 15th LLC, in securing a fully leased space.
