This Week's Denver Deal Sheet
Menashe Properties Inc., a Portland-based real estate investment firm, acquired Stanford Place III from Angelo Gordon for just under $50M, according to CEO Jordan Menashe.
The property is a 370K SF office complex in the Denver Tech Center. The acquisition brings Menashe’s local portfolio, which also includes Aurora Marketplace, to nearly 1M SF. The company seeks to be “cash-flow buyers,” according to Menashe, who said he plans to upgrade the property.
The Opus Group promoted Nick Lauters to project executive. Lauters has been based in the Denver office of the company since 2006.
Dale Clingner joined architecture firm HKS Inc. as senior vice president and will work on healthcare projects across the Mountain West. He was previously with Boulder Associates.
Forum Investment Group and Brookhaven Capital Partners purchased a 2.6-acre site at the southwest corner of Colorado Boulevard and Interstate 25 with plans to develop a five-story, 300-unit multifamily community. This is the first joint land acquisition between the companies. Denver-based Kephart will lead the design team on the project, which is expected to be complete in late 2026.
Volunteers of America Colorado sold its property encompassing nearly a full city block at 26th Avenue and Larimer Street in Denver's River North Arts District to developer Edens. Edens is planning a mixed-use redevelopment of the site. VOA Colorado will maintain its headquarters on Larimer Street and relocate its kitchen and food bank to Commerce City, Colorado. Bryon Stevenson, managing director at Newmark represented the seller. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented the buyer.
The Women's Bean Project’s property at 3201 Curtis St. sold to Mainspring Development for $3.65M. The transaction was the last piece of a multilayered deal that resulted in The Women’s Bean Project relocating to a larger facility at 1300 West Alameda Ave., which was purchased in November by the Denver Housing Authority for $4M.
The Women’s Bean Project purchased the existing building and an adjacent parking lot on that site from DHA for $2.5M, leaving the remaining acreage for DHA to build permanent supportive housing. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky brokered the deal.
Summit 360 Capital sold Parkside Apartments, a 132-unit multifamily complex in northwest Denver, to an undisclosed buyer. Dan Woodward, Dave Potarf, Matt Barnett and Jake Young of Walker & Dunlop represented the seller.
Pioneer Land Co. purchased 7 acres and a 16K SF industrial building at 655 and 661 Gyrfalcon Court in Windsor for $4.17M. The property is fully leased to an oil and gas company and was part of a 1031 exchange. Tyler Murray and Jared Goodman with Cushman & Wakefield represented the buyer in the transaction.
Reaction Engines Inc., an aerospace company, leased a 4K SF office in the Cherry Creek Corporate Center at 4500 Cherry Creek Drive S. in Glendale. Pinnacle Real Estate Advisors Vice President Eric Shaw represented the tenant.
CONSTRUCTION AND DEVELOPMENT
The team building The Current, Schnitzer West’s 238K SF speculative office building in Denver's RiNo District, celebrated the project’s topping out this week. The project, at 3615 Delgany St., was designed by a team led by Davis Partnership and is being built by Swinerton.
THIS AND THAT
CREW Denver is taking nominations for its Women of Influence awards until 5 p.m. on Aug. 5. The award celebration will be held on Wednesday, Sept. 14, at Asterisk Denver.