Colorado-Real-Estate-Journal_290115

Office 6 Industrial 10 Multifamily 14 Retail 20 Law & Accounting 26 Finance 28 CDE News 32 Who's News 44 Portfolio sale RedPeak Properties acquires apt. portfolio near Washington Park INSIDE Grocery anchor A King Soopers-anchored center will be built at RidgeGate Relocation Davis Graham & Stubbs to move Denver office to River North 6 21 14 FEATURED Breaking ground First high-cube industrial facility in Castle Rock underway 10 CONTENTS JULY 6-19, 2022 by Jenna Walters LONE TREE – A startup is planning the world’s first publicly accessible spaceflight training facility, and research and development campus for emerging technologies on a 53-acre site in Lone Tree. Star Harbor will develop the estimated $750 million mixed-used campus over the next several years. Star Har- bor Academy, where com- mercial astronaut training will take place, will anchor the development. The academy is set to feature microgravity flights, a neutral buoyancy facility, high-gravity centri- fuge, land-based and under- water habitats, hypobaric and hyperbaric chambers, simula- tion labs and a human per- formance center. Designed by AOA, a world leader in experience design, the $120 million Star Harbor Academy will be the first facility con- structed on the campus. The campus also will include a space-themed hotel, office and retail space, sensi- tive compartmented informa- tion facility space, a nonprofit public inspiration center where K-12 education initia- tives and technology demon- strations will take place, dor- mitories and other residential space, and various enter- tainment and event venues, including an approximately 60,000-square-foot esports arena to host drone racing, First Robotics competitions and space conventions. Maraia Tanner, founder and CEO of Star Harbor, commented on the need for a campus that provides commercial a s t r o n a u t training and space work- force development while fostering the development of new products and technolo- gies, "There is an unprece- dented renaissance occurring within the space industry today, and our leading-edge capabilities and people-cen- tered approach will accelerate this transformation in ways $750M development planned in Lone Tree by Jenna Walters EDGEWATER – A Califor- nia-based investment group acquired an apartment com- munity in Edgewater with plans to implement signifi- cant improvements. Trion Properties purchased Terra Village Apartments, the 402-unit multifamily prop- erty at 6201 W. 26th Ave., for $110 million, or $273,630 per unit. According to public records, the buyer acquired the 1970-built asset from Terra Village Apartments Holding Co LLC. Elliott Polanchyck, Will McCauley, Phil Dankner, Kevin Higgins and Marc Lippitt of Unique Properties Inc.-TCN World- wide exclusively brokered the off-market transaction. Terra Village encompasses 23 buildings on nearly 16 acres, offering one-, two- and three-bedroom apart- ments. Community ameni- ties include a pool, basketball court, playground, picnic area and a dog park. According to David Moghavem, director of acquisitions at Trion Prop- erties, the investment group was attracted to the asset’s size, location in a flourishing submarket and value-add opportunities. Trion Properties will imple- ment a renovation program at Terra Village, incorporat- ing a complete tech package, implementing in-unit wash- ers and dryers, and adding additional amenities, includ- ing a gym, an outdoor fit- ness area and a dog park. The buyer also will improve the community’s curb appeal with new paint, signage and landscaping. The property is to be renamed Edge 26 at Sloan’s Lake. “Through the unique opportunity to acquire this stand-out asset at an attrac- tive basis and completing strategic upgrades, we will be able to unlock tremen- dous value potential,” said Max Sharkansky, manag- Trion Properties buys Edgewater apartments A rendering shows what the Star Harbor Academy could look like when completed. Maraia Tanner Please see Star Harbor, Page 18 Terra Village Apartments recently sold for nearly $110 million. Please see Trion, Page 18

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