This Week's Denver Deal Sheet: IOV Adds 10th Denver Property To Portfolio
Industrial Outdoor Ventures purchased 3750 Nome St., a 4.9-acre industrial outdoor storage property, as its 10th acquisition in Denver. The site includes a 24K SF warehouse with 22-foot clear heights, dock-high doors and a 7K SF standalone office.
Located in Denver's Airport Central submarket near I-70 and I-225, the facility offers connectivity to I-25 and Denver International Airport.
The acquisition brings IOV’s Denver portfolio to 10 properties spanning 260K SF and 125 acres. CBRE's Sam Dragan and Mike Camp represented both sides of the transaction and are marketing the vacant property for lease.
PEOPLE
Keiffer Garton has joined CBRE’s Denver office as a senior vice president in the industrial and logistics group. Formerly a vice president at Prologis, Garton managed Colorado’s largest institutionally owned industrial portfolio. At CBRE, he will focus on leasing and sales alongside Jeremy Ballenger and Tyler Carner.
CONSTRUCTION AND DEVELOPMENT
PMG and Hilton unveiled plans for the Waldorf Astoria Residences Denver Cherry Creek, a 37-unit luxury condominium development at 185 N. Steele St. The project will feature design by Shear Adkins Rockmore and architect Carlos Ott, along with construction led by Hyder Construction. Hilton Management Services will oversee operations. Starting at $2.3M, 30% of the residences are already reserved.
LEASES
City Light & Power has signed a 21,700 SF lease at Stanford Place III at 8055 E. Tufts Ave. in Denver, expanding from its previous 13,200 SF headquarters. The move, arranged by CBRE, is part of the company’s growth strategy as it occupies the entire eighth floor beginning in the third quarter of 2025.
SALES
Local business owner Tom Saurey, founder of Tuff Shed, has purchased the 374K SF Centerpoint I and II office buildings at 1777 S. Harrison St. in Denver for $23M. Tributary Real Estate brokered the sale, with Dunton Commercial managing the property. The acquisition solidifies Tuff Shed’s long-term presence in Denver and highlights a growing trend of owner-user purchases in the metro's office market.
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Pinnacle Real Estate Advisors announced the sale of a 12K SF industrial automotive repair facility at 7110 Lowell Blvd. in Westminster for $2.1M. Craig Myles, R.C. Myles and Joe Owston represented the buyer, EF Investments LLC, while Jason Russ of Fuller Real Estate represented the seller.
THIS AND THAT
The Aurora Highlands master-planned community earned nine honors at this year’s Denver Marketing and Merchandising Excellence awards, including awards for community of the year and best use of technology.
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Denver’s All In Mile High program, launched in July 2023, has brought more than 2,000 people off the streets and into housing, according to city officials. Recent improvements have reduced 911 calls by 66% and streamlined housing placements, with more than 800 individuals now in permanent housing.
