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Capstone Colorado’s land team closed the sale of a 219K SF tract near George Washington High School on Leetsdale Avenue in Denver. Embrey, the San Antonio-based developer who bought the property, plans to demolish the small retail shopping center and hardwood flooring company building on the property to construct a 283-unit apartment complex.
PEOPLE
Newmark’s Chad Lavender was promoted to president of capital markets after serving as the vice chairman and co-head of its healthcare and alternative real estate assets group. Lavender joined Newmark in 2019.
SALES
Robert Edwards and Brandon Gayeski of Blue West Capital helped broker the sale of a 4.6K SF single-tenant 7-Eleven property in Lakewood for $325K. The property is at the intersection of Wadsworth Boulevard and Mississippi Avenue The convenience store is expected to open later this month and includes eight gas pumps and a Laredo Taco restaurant.
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Matt Kulbe of NavPoint Real Estate Group helped broker the sale of a 1.4K SF office condo at 10394 West Chatfield Ave. in Littleton. The buyer was Arboradix LLC, an information technology company.
LEASES
Canopy Aeospace Inc. signed a seven-year lease on a more than 18K SF warehouse in Littleton. NavPoint Real Estate Group’s Jeff Brandon and Matt Call represented the landlord.
CONSTRUCTION AND DEVELOPMENT
Tramwell Crow Co. and Clarion Partners completed Phase 1 of their 1.2M SF industrial park in Commerce City. Phase 1 consists of two buildings, a 272K SF warehouse and a 298K SF warehouse. Phase 2 could begin as early as this fall.
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CenterSquare Investment Management and Quannah Partners broke ground on a 195K SF logistics warehouse project in Englewood known as The Point at Denver South. The Point has two buildings that combine for 37 dock-high doors, six drive-in doors, five at-grade overhead doors and 16 parking spaces for trailers.
THIS AND THAT
Highside Cos., a Denver-based real estate firm, announced that it has partnered with Westmount Park Investments, a family office based in Ontario, Canada, to develop extended-stay motels, multifamily developments, self-storage and light industrial properties.
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