This Week’s Denver Deal Sheet
Canadian developer Amacon wants to build two more condo towers next to its current project at Welton Street and Broadway in downtown Denver, according to the Denver Business Journal.
Amacon is under construction now on a 461-unit condo project that represents one of the largest contributions to the city's condo market in more than a decade. The project is expected to be complete next year.
Now, the company has submitted documents to the city of Denver for two 39-story towers that would bring an additional 611 condos and a 96-key hotel, as well as parking and ground-floor retail.
SALES
Northpeak Commercial Advisors helped sell an eight-unit, 6.2K SF multifamily property at 606-622 South Pecos St. in Denver for $1.7M with a cap rate of about 6%. The sale closed April 20, according to a press release.
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Cultura Holdings LLC, an investment firm, purchased a 7.4K SF industrial space on South Cherokee St. in south Denver for $1.8M. Mike Quinlan of NavPoint Real Estate Group represented Cultura while Brian Basham of Basham Investments LLC represented the sellers, Scott James Souder and Mary Souder.
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A 0.85-acre plot at the corner of Prairie Hawk Drive and Sol Danza Drive in Castle Rock was purchased by SimonCRE C550 III LLC, a subsidiary of national commercial developer SimonCRE, for $1.1M. Mike Quinlan of NavPoint Real Estate Group represented the seller, Nguyen Partners LLC. Jake Schisel and Courtney Key of Sullivan Hayes Brokerage represented the buyer.
LEASES
Crum Electric Supply, an electrical distribution company, leased a 22.6K SF industrial space at 6260 North Washington St. in Denver. Alex Clark of Lee & Associates represented Crum.
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SOS Site Services, a landscape design company, leased a 13.5K SF industrial warehouse at 4905 North York St. in Denver. Matt Nora and Kirk Vanino of Lee & Associates represented the tenant. Tom Myers with Unique Properties represented the landlord.
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Ramblin Express Inc. leased a 24.8K SF industrial space in Aurora with the help of Matt Nora and Jeff Hallberg of Lee & Associates. Aaron Valdez with Cushman & Wakefield represented the landlord.
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Interplaza JNP LLC leased a 3K SF retail space at 17120 West Colfax in Golden. Jeff Hallberg, Matt Nora and Zach Propst of Lee & Associates represented the landlord in the transaction.
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Pivot Energy, a renewable energy company, signed a lease for a 22.6K SF office at 1601 Wewatta St. near Denver’s Union Station. The office will serve as the company’s headquarters. Newmark brokered the lease on behalf of Pivot while CBRE represented the landlord in the transaction.
THIS AND THAT
The Leeds School of Business at the University of Colorado Boulder is revamping its Master's of Real Estate program to include more commercial real estate instruction, as well as more classes on law, modeling and analytics.
