A 45K SF office and light industrial building at 2506-2596 West Barberry Place in central Denver sold for $8M. The building, which sits on 1.78 acres directly west of I-25 at Eighth Avenue, had been privately held since the late 1960s. The property was fully leased at the time of the transaction.
Thrive Commercial Group’s RC Myles represented the seller with Ben Vestal and Cole Carosella of Argus Real Estate. The buyer, represented by T.J. Smith of Colliers, is a “Canada-based fund," according to a press release from Thrive.
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SALES
A 65K SF industrial property as 35 Inverness Drive E in Englewood sold for $10.25M to Inverness 2022. Newmark’s Jason Addlesperger, David Lee and Philip Lee represented the buyer. CBRE represented the seller.
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A 45K SF property at 17555 East Arapahoe Road in Centennial, housing bowling alley Celebrity Lanes, sold for $13.75M. SVN Denver Commercial’s Kevin Matthews and Troy Meyer represented the seller, C & S Expansion Partners. Craddock Commercial Real Estate’s Matthew Craddock represented the buyer, Old Mill LLC.
LEASES
Axia Energy II LLC leased 9.9K SF at Shea Center II, a Highlands Ranch building owned and operated by Presidio Property Trust.
CONSTRUCTION AND DEVELOPMENT
Corum Real Estate plans to build a new four-story office building at Third Avenue and Josephine Street in Cherry Creek, BusinessDen reported. The proposed development, which still needs approval by the city, is part of a parcel at 210 University Blvd. that Corum purchased in September for $67.7M.
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