Colorado-Real-Estate-Journal_327946

Page 20 - February 15-28, 2023 www.crej.com WORLDWIDE LOCATIONS United States Europe, Middle East Asia, Latin America Greenberg Traurig is a service mark and trade name of Greenberg Traurig,LLP and Greenberg Traurig,P.A.©2022 Greenberg Traurig, LLP. Attorneys at Law. All rights reserved. Attorney Advertising. °These numbers are subject to fluctuation. 37090 GREENBERG TRAURIG, LLP | 2500 AT TORNEYS | 43 LOCATIONS WORLDWIDE ° 1144 15th Street | Suite 3300 Denver, CO 80202 | 303.572.6500 GTL AW.COM GT Denver’s Real Estate Team Christopher Neumann Katy O’Brien Neil Oberfeld Keith Pockross Carlos Schidlow Paul Seby Christopher Thorne Matthew Tieslau Mark Baker Alex Cain Stephen Goler Peter Kelley Brady McShane Our goal is to provide more than just legal services to our clients. We aim to be a partner to clients, supporting their business objectives through innovative legal offerings in the real estate sector. high-net-worth private inves- tors and family offices,” Gross said. n LITTLETON – Shops at Belleview, the 7,359-sf shop- ping center at 2727 and 2817 W. Belleview Ave. in Little- ton, sold for $4 million, or $543 per sf. According to pub- lic records, YH Hotels LLC acquired the two-building property from 2727 West Bel- leview Development LLC. Bryce McNeely of Blue West Capital represented the buyer in the transaction. Shops at Belleview is fully occupied by a mix of regional and national tenants, includ- ing Black Rock Coffee, Wing- stop, Marco’s Pizza, Metro by T-Mobile and Trinity Nails & Spa. The center is shadow anchored by King Soopers. Situated off of Belleview Ave- nue, the property is exposed to more than 67,000 vehicles per day and benefits from strong surrounding demographics, including an average house- hold income of $125,000 with- in a 5-mile radius. A Hawaii-based 1031 exchange investor purchased Shops at Belleview. “It feels great helping a repeat client successfully tran- sition their portfolio out of the intensive hospitality sec- tor and into stabilized retail investments that offer more passive income. The prop- erty’s strong real estate fun- damentals, long-term net leases and significant capital improvements were a large draw for the buyer,” said McNeely. “We are still seeing deals get done for well-posi- tioned net-leased assets.” n DENVER – The vacant mixed-use building at 1919 Blake St. in Denver’s Lower Downtown district recently traded hands for $2.94 million. According to public records, Mile High on Blake St. LLC acquired the 5,184-sf property from R and R LLC. Andrew Dodgen with Fuller Real Estate brokered the transaction on behalf of the seller. Situated a block from Coors Field, the property most recent- ly operated as a taproom/bar. Its location was a driver of buyer interest, Dodgen noted. He said the property garnered steady interest from a mix of local and regional investors. The buyer plans to lease the property to a restaurant user, Dodgen said. n ELIZABETH – Brakes Plus is the newest user to secure space at Wild Pointe Ranch Marketplace in Elizabeth. The auto repair shop pur- chased the 1.25-acre site directly adjacent to the new McDonald’s restaurant along state Highway 86. Brakes Plus, represented by Lisa Vela and Lance Eberhard of Colliers International, acquired the land from Wild Pointe Investment Properties for $690,510. Mitch Trevey and Nick Beach of Trev- ey Commercial represented the seller. According to Trevey, Brakes Plus will build a 4,950-sf build- ing at the site. It joins other national and regional ten- ants at Wild Pointe Ranch Marketplace, i n c l u d i n g W a l m a r t , A u t o Z o n e , M u r p h y Express, Taco Bell, Anytime Fitness, Anna’s Car Wash and Ziggi’s Coffee. Many prospective users are attracted to the park’s roster of national brands, Trevey said, adding that Elizabeth’s contin- ued residential growth also is a driver of user interest. The Trevey Commercial team is marketing two remaining sites at the park, looking to potential- ly secure a free-standing bank or a day care user, Trevey said. The park also could accommodate a chicken restaurant concept, like Chick-fil-A, or a Chinese food concept, Trevey noted. n DENVER – The retail property at 2364-2366 15th St. in Denver is under new ownership. According to pub- lic records, Globetrotters II LLC purchased the approxi- mately 4,000-sf property from 2364 Fifteenth Street LLC, an entity related to Denver- native John DeAndrea. The property sold for $1.5 million, or $417 per sf. Brett MacDou- gall and Michael DeSantis with Unique Properties Inc./ TCN Worldwide brokered the transaction on behalf of the seller. Built in 1884, the building has been held by DeAndrea for the last 50-plus years. Known as a premier sculptor/artist, DeAn- drea originally purchased the building as his studio and office in 1972, the Unique team noted. DeAndrea occupied the building for several years before turning it over to renters as a commercial restaurant and retail space. The building is home to Just Be Kitchen, which operates a health café/restaurant on the first floor. The second floor is vacant but is built out for tra- ditional office use. According to MacDougall, the generational asset’s posi- tion within the market contrib- uted to considerable interest and numerous offers. “The building's exceptional location and strong local ten- ant, accompanied by its street appeal and historic back- ground, made this a rare pur- chase opportunity. We have continued to see strong inter- est in our urban retail/office listings in solid locations like this,” MacDougall said. The buyer plans to lease up the remaining second- floor vacancy, according to the Unique team. The buying entity, comprising a group of local investors familiar with historic buildings, is excited about the long-term potential of the property, the brokerage team added. n DENVER – This month, Face Foundrie will open its first Denver location at a newly leased space in Denver’s Cher- ry Creek North neighborhood. The facial bar, providing facials, lashes, brows and skin- care services, signed a 2,674- sf lease at 2630 E. Third Ave. with landlord Third Avenue LLC. Molly Bayer of CBRE’s Boulder office, along with Brandon Famous and Alex- andra McGinn with CBRE’s global retail services team, rep- resented Face Foundrie in the negotiations. The terms of the agreement were undisclosed. Face Foundrie founder Michele Henry commented on choosing Cherry Creek North Belleview Continued from Page 32 Mitch Trevey Please see Face Foundrie, Page 22