Denver Place Sells To CP Group, Time Equities: The Denver Deal Sheet

CP Group and Time Equities Inc. acquired Denver Place, a 930K SF mixed-use office property downtown, in an off-market deal. 

The new owners said they plan to revitalize the existing amenities and activate the lobby. CP Group, an owner-operator of office properties, plans to implement its tenant experience program, which includes a concierge service, pop-up events and art installations. 

Denver Place, at 999 18th St., was built in 1981 and has two towers linked by a six-story podium with a three-level underground parking garage. The building currently has 55 tenants. About 13K SF of office space is available for lease.

The previous owners invested $20M in capital improvements, including a rooftop patio, a fitness center and a tenant clubhouse with a pickleball court, climbing wall, lounge and bar.

Newmark and CBRE represented the seller, while the buyers represented themselves. CBRE will continue to oversee leasing for Denver Place. 

SALES

Denver-based multifamily housing developer MGL Partners sold a senior living community at Belleview Station for $96M as part of a multi-asset senior housing portfolio acquisition by the institutional buyer. 

Carillon at Belleview Station is a 156-unit senior living community located at 4855 S. Niagara St. It includes independent living, assisted living and memory care.

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CBRE arranged a $1.9M sale of an eight-unit apartment property in Arvada. HBR1 Arvada LLC purchased the property from Pierce Plaza LLC.

The property, at 5815 Pierce St., consists of eight 1K SF townhomes originally built in 1983. 

LEASES

Smalls Sliders, a national restaurant chain, signed a 2,400 SF lease in Northglenn for its first Colorado location. JLL represented the company.

The restaurant, at 1831 E. 120th Ave., will be owned and operated by the brand’s local franchisee, Mountain Sliders. Mountain Sliders has committed to developing 10 Colorado locations, with plans to open in Johnstown and Green Valley Ranch. 

THIS AND THAT

Therapy, a new boutique retailer featuring women and international designers, plans to open this spring at 4144 Eighth Place in the 9+CO community. 

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Apiary Residences, a 193-unit apartment community at 4855 S. Quebec St. in Belleview Station, will open in March. Units include one- to three-bedroom floor plans and 13 penthouses. Residents will have amenities including valet service, a rooftop pool and a fitness center.

Stonebridge Cos. and Copford Capital Management developed the property, which was designed and built by the Beck Group.