Colorado-Real-Estate-Journal_318734

Planning stages Broe Real Estate Group announces Cherry Creek office project INSIDE Trade Association Awards Spotlight New HQ Amp Robotics occupies its new Louisville facility 12 57 6 FEATURED Flex sale Englewood property trades hands for $10 million 10 CONTENTS DECEMBER 21, 2022-JANUARY 3, 2023 Office 6 Industrial 10 Multifamily 14 Retail 16 Finance 20 Law & Accounting 26 CDE News 34 Who's News 44 by Jenna Walters MONUMENT – Thomp- son Thrift is bringing a new luxury multifamily offering to Monument. The developer is underway on Alta25, a 264-unit apart- ment community at 16218 Jackson Creek Parkway. Studio M Architecture and Planning is designing the project, which broke ground last month. Upon completion, Alta25 will encompass eight three- story buildings offering one-, two- and three-bedroom units. Averaging 987 square feet, the apartments will feature lux- ury finishes, including gour- met bar-kitchens with quartz countertops, tile backsplash- es, stainless steel appliances, Alexa-compatible smart hubs to integrate all smart devices, smart thermostats and smart door locks, walk-in closets, full-size washers and dryers, and patio, balcony or private yard options. Community amenities at the property will include a clubhouse, resort-style swim- ming pool, 24-hour fitness center, Amazon package hub, bike storage and workshop, grilling stations, an outdoor game area, electronic fire pit with a seating area, a dog park, and pet spa with a grooming station. Addition- ally, residents will have access to nearly 658,000 sf of retail and restaurants at the adja- cent Monument Marketplace center. According to Josh Purvis, managing partner at Thomp- son Thrift Residential, there is strong demand for luxury multifamily communities in the area, and Alta25 was designed to meet this need. “We expect that Alta25 will provide an appealing rental option for residents desiring the style, luxury and conve- nience that ThompsonThrift communities feature,” Purvis said. Residents will begin mov- ing into Alta25 upon its com- pletion in 2025. s Thompson Thrift begins luxury MF project by Jenna Walters COLORADO SPRINGS – Investment company Cres- cent Real Estate sold the final piece of a 1 million- square-foot office portfolio in Colorado Springs. Since 2019, Crescent Real Estate has sold the 13-build- ing portfolio as individual buildings or micro-portfoli- os to multiple buyers, and the last remaining build- ing in the portfolio recently sold. The entire asset traded for an aggregate price of approximately $180 million. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented Crescent Real Estate in the sale of the entire portfolio. The portfolio comprises Northrop Grumman at 3535 Northrop Grumman Point; Newport Centre One at 1670 N. Newport Road; the 59,763- sf office building at 1055 N. Newport Road; Patriot Park I, II, V, VI, VII along Space Center Drive and Technology Court; InterQuest I-IV along Federal Drive; and the most recent to sell – Epic One at 10807 New Allegiance Drive, purchased by an affiliate of Boston-based Albany Road Real Estate Part- ners for $31.72 mil- lion. “This port- folio com- prises some of the most prestigious p ro p e r t i e s in the region that are all well-positioned in a constrained Class A market with minimal new construc- tion and limited competi- tion,” said Johnson. “Colo- rado Springs is recognized as one of the most desired locations in the U.S. for aero- space and engineering and tech users and has proven resilient with solid funda- mentals driven by increased leasing and activity. While still facing challenges like any other market, Colora- do Springs is expected to continue its path of healthy recovery.” Crescent Real Estate acquired the portfolio in Crescent Real Estate sells $180M portfolio The recent sale of Epic One closed a 13-building portfolio deal Crescent Real Estate has been working on for several years. Aaron Johnson A rendering shows what Alta25 will look like upon completion. Please see Crescent, Page 12