This Week's Denver Deal Sheet
Boston-based TA Realty has acquired the Airport Central Portfolio, an airport submarket portfolio featuring two multitenant industrial distribution buildings. The buildings, which combine for a total of 340.9K SF on 15 acres, are 93% leased to seven different tenants.
Public records list the sale price at $33M, according to Commercial Property Executive. The seller was a group of institutional investors advised by J.P. Morgan Global Alternatives. The deal was brokered by CBRE’s Jeremy Ballenger, Tyler Carner, Jim Bolt and Jessica Ostermick.
SALES
Austin, Texas-based Artesia Real Estate Investments purchased 10785 West Colfax, a 7.85-acre, 164K SF site in Lakewood that includes a former Sears department store, for an undisclosed price. Travis Hodge and Anthony Bobay of Capstone Colorado Land Team represented the anonymous seller in the deal.
LEASES
Well Data Labs Inc. subleased 10K SF of office space at 1675 Larimer St. in Denver to Cledara Inc. for an undisclosed price. Newmark’s Andrew Blaustein, Caroline Nowack and Josh Pons represented Well Data Labs.
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First California Investments leased 19K SF of industrially zoned space at 4975 Pontiac St. in Commerce City to Spring Back Colorado Inc. Newmark’s Mike Viehmann, Chris Nordling and Julie Wafer represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Broe Real Estate Group began the second phase of its ongoing redevelopment project in Cherry Creek North. The newly announced project, 250 Clayton, will feature 175K SF of mixed-use office and retail space in an eight-story building. 250 Clayton will build upon 200 Clayton, the 76K SF, fully pre-leased first-phase development that Broe plans to complete in the spring of 2023.
FINANCING
JLL Capital Markets closed a $28.85M refinancing of Northglenn Marketplace, a regional shopping center located about 10 miles north of Denver. JLL marketed the property on behalf of the borrower, a joint venture managed by Hutensky Capital Partners. JLL’s team was led by Eric Tupler and Rob Bova.
