Colorado-Real-Estate-Journal_389417

Class A health care NavPoint brokers sale of medical rehabilitation facility INSIDE Industrial trade Nearon buys Class A industrial park from Unique Properties 16 6 FEATURED Multitenant center CBRE facilitates sale of The Shops at Mesa Ridge 20 CONTENTS MARCH 6-19, 2024 Office 6 Multifamily 12 Industrial 16 Retail 20 Finance 24 Law & Accounting 30 CDE News 32 Who’s News 49 Apts. acquisition ColRich Multifamily purchases 318 units for $74.3 million 12 by Avalon Jacka AURORA – A pair of light- industrial assets in the Mor- ris Park neighborhood traded hands between two California- based real estate investment firms. Midtown National Group acquired Commerce Square, which includes warehouses located at 3250 Quentin St. and 3251 Revere St., from Graham Street Realty for $21.5 mil- lion in December, according to SKLD. The property previous- ly sold for $16 million in 2020, according to Adams County public records. Larry Thiel, Ryan Sitov and Rob Key of JLL Capital Markets represented the seller and procured the buyer in the sale. Carmon Hicks and Jason White comprise JLL’s leasing team for the site. “Commerce Square is a unique asset in the Interstate 70 east submarket due to its desirable front-park, rear-load configuration and small-bay suite sizes,” Key said. “The property garnered interest from a wide range of capital because of near-term upside in rents and an attractive assum- able loan.” Situated on 8.94 acres, Com- merce Square features rear- loading configurations, 18-foot clear heights, 38 docks, 11 drive-in doors and 265 parking spaces. The 145,242-square- foot property is occupied by 12 diverse tenants. Commerce Square is located minutes from the Interstate 70-Peoria Street interchange, less than 10 miles from downtown Denver. The Denver metro area has become one of the country’s most active industrial mar- kets in the past decade due JLL facilitates sale of Commerce Square by Avalon Jacka LAKEWOOD – ASan Diego- based private real estate invest- ment firm acquired a 352-unit townhome and apartment community in south Lake- wood for $124.25 million. Brixton Capital purchased The Windsor, a two-story community at 8153 W. East- man Place, from Boston-based TA Realty. Both parties were self-represented. The purchase marks Brixton Capital’s reentry into the Denver market. “The Windsor stands out as a valuable addition to Brixton's multifamily portfolio,” Brixton Capital founder and Chairman Marc Brutten said. “In addi- tion to being irreplaceable, the property is located near Den- ver's largest employment hubs, at the Denver Tech Center and downtown. Given Denver's robust growth prospects, it is slated to be a key focus market for us in the future.” The 29.05-acre property is comprised of 53 buildings totaling 392,522 rentable square feet with a mix of one-, two- and three-bedroom floor plans. Units average 1,115 sf and include gas fireplaces, walk-in closets, in-unit washers and dryers, 9-foot ceilings, and one- or two-car direct access garag- es. The property, which was 95% occupied at the time of sale, will be rebranded as Brix- ton Townhomes at Bear Creek. Completed in 1997 by San Francisco-based Carmel Part- ners, the completely gated community provides ameni- ties such as a clubhouse, leas- ing center, coffee station, three swimming pools, a spa and hot tub, a fitness center, a dog park and tennis courts. The com- munity is adjacent to the Bear Creek Greenbelt, offering quick accessibility to the Bear Creek Trail system. The property is situated approximately half a mile northwest of the intersec- tion of South Wadsworth Bou- levard and U.S. Highway 285, offering connectivity to both downtown and the mountains. “Lakewood is a highly sought-after destination within the Denver metro that provides Brixton Capital buys The Windsor for $124M The 145,242-square-foot Commerce Square, located at 3250 Quentin St. and 3251 Revers St., features two warehouses on nearly 9 acres. Please see JLL, Page 21 Brixton Capital bought The Windsor, a 352-unit community with 53 buildings located at 8153 W. Eastman Place, in February. Please see Brixton, Page 21