This Week’s Denver Deal Sheet
The Unique Apartment Group, a division of Unique Properties Inc./TCN Worldwide, announced the sale of a 26.7K SF apartment building in Boulder for $21.7M. The property is at 949 Marine St. and includes 32 units.
The buyer, Captain Corkum LLC, assumed the financing the seller procured for the property a little over three years ago. The buyer was unrepresented and the seller, Hill House LLC, was represented by Marc Lippitt, Justin Herman and Phil Dankner of Unique Properties Inc./TCN Worldwide.
SALES
Denver Dumb Friends League sold its former animal hospital at 191 Yuma St. to Thriving Families, another nonprofit.
The 20K SF, two-story building sold for $3.1M. The sale of the building, located southwest of downtown in Denver’s Valverde neighborhood, closed May 13, according to public records.
LEASES
Jordon Perlmutter & Co. and Rockefeller Group have announced the completion of Paradigm River North, the latest addition to new office construction in Denver’s River North Arts District.
Also known as 3400 Walnut St., Paradigm River North has 188K SF of Class-AA office space and 12K SF of ground-floor retail space. Law firm Davis Graham & Stubbs LLP pre-leased 80K SF on the top three floors of the eight-story building.
Newmark Vice Chairman Jamie Gard and Executive Managing Director Jeff Castleton serve as exclusive leasing advisers for the property on behalf of the developers.
CONSTRUCTION AND DEVELOPMENT
LaPour acquired just under 6 acres to develop Creekside Centennial Tech Center. The planned shallow bay, light industrial, multitenant project will be in the southeast Denver submarket north of Centennial Airport in Centennial.
LaPour will break ground on the project in June, with an estimated completion in April 2025. The 63K SF project will have 24-foot clear heights, 16 dock doors, eight drive-in doors and a parking ratio of three per 1K SF.
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The Boulder Shelter for the Homeless has been awarded a $50K grant from the Wells Fargo Foundation to provide access to safe housing in Boulder and Longmont. The grant will be used to support the Zinnia Permanent Supportive Housing project currently under construction in Longmont, with a target completion date in October.
The 39K SF, four-story building will provide critical housing and supportive services to Longmont residents experiencing homelessness. All 55 one-bedroom units will be restricted at 30% of the area median income with the addition of state-funded project-based vouchers. According to Boulder Shelter, the grant will not go toward capital costs but will fund the supportive services staff necessary to keep their clients housed.
PEOPLE
Scottsdale-based Land Advisors Organization expanded its service into the Metro Denver market. The Denver office, at 4600 S. Syracuse St., will be led by Tom Kaufman. He previously worked with Land Advisors Organization over a decade ago and has experience in raw land, land planning, land management, subdivision management and land brokerage throughout metro Denver and across the Front Range.
Kaufman will also advise landowners and purchasers of land parcels. He is involved with the Homebuilders Association of Metro Denver, serving on the HBA’s Metro Housing Coalition committee as well as the Urban Land Institute, and he is also a member of the International Council of Shopping Centers and the National Association of Industrial and Office Parks.
FINANCING
Dish Wireless’ Littleton headquarters building has been sold for $26.7M to a company controlled by Dish Chairman and co-founder Charlie Ergen, as legal pressure mounts on the billionaire’s telecommunications empire.
Conx Corp., a special purpose acquisition vehicle founded by Ergen in 2020, closed on its deal buying the Dish Wireless headquarters building and parking lots at 5701 S. Santa Fe Blvd. on May 1, according to regulatory filings made by the company. The 105K SF office building anchors the 10-acre campus that runs along the west side of Santa Fe Boulevard.
The sale, initially revealed in March, includes a lease-back provision in which the offices can be rented by Dish Wireless for at least 10 years at rates starting at $228K per month, the Conx filings show.
THIS AND THAT
Broe Real Estate Group’s 200 Clayton St., a redevelopment project in Denver’s Cherry Creek North district, has become the first commercial project in Colorado to be awarded the Green Building Initiative’s Four Green Globes certification, the highest of four construction sustainability rating levels.
The nearly 100K SF, eight-story mixed-use project earned 87% of the total applicable points for environmental sustainability, health and wellness, and resilience.
