Colorado-Real-Estate-Journal_431468

INSIDE 14 6 FEATURED 18 CONTENTS NOVEMBER 20-DECEMBER 3, 2024 Office 6 Industrial 10 Multifamily 14 Retail 18 Finance 23 Law & Accounting 26 CDE News 28 Who's News 40 10 Aerospace office Easterly acquires Buckley Space Force Base-adjacent asset Triple-net industrial Lee & Associates brokers $13M northeast submarket sale Class A multifamily Developer Thompson Thrift sells 360-unit Apex for $102.5M National thrift A top-performing Goodwill of Colorado trades hands for $7.5M by Avalon Jacka DENVER–A 207,605-square- foot apartment community in the Uptown neighborhood found a new owner in Octo- ber. InterCapital Group and Pamera North America acquired One City Block, located at 444 E. 19th Ave., from RAR2 444 East 19th LLC for $95 million, according to SKLD Information Services. The seller’s address listed on Denver County public records is affiliated with Scottsdale, Arizona-based Hawkins Com- mercial Realty. The property last sold for $99.5 million in 2017, according to Denver County public records. CBRE’s Shane Ozment, Ter- rance Hunt, Chris Hart and Brad Schlafer represented the seller, a global investment manager, in the transaction. “One City Block is one of the most unique assets in Denver that will not be replicated,” Hunt said. “Although it is over 300 units, it is low density for that size of site in the heart of the city, as you could have seen twice as many units built on the 106,722-square-foot site.” “We intend to hold long term as we strongly believe in this location and the quality/ design of the asset,” said Cord CBRE brokers One City Block transaction by Avalon Jacka CENTENNIAL – A local real estate development firm pur- chased a trio of premier office buildings in the southeast sub- market. Westside Investments Partners acquired The Cam- pus at Waterview, a three- building asset located at 8000- 8005 S. Chester St. and 9155 E. Nichols Ave., from Water- view I III LLC for $27 million in October, according to SKLD Information Services. CBRE’s Charley Will, Chad Flynn and Jenny Knowlton facilitated the sale. The team did not comment on the trans- action. The seller acquired the prop- erty for $66.85 million in 2014, according to Arapahoe Coun- ty public records. The Campus at Waterview was 81% leased at the time of sale. Waterview One is fully leased to cloud-based com- munication provider Ring- Central through 2028, while Waterview Two is 77% leased and Waterview Three is 72% leased. The state-of-the-art build- ings were constructed between 1997 and 1999, according to Arapahoe County public records. Comprising more than 372,000 square feet, the buildings are LEED Gold cer- tified and Energy Star-rated. Asset amenities include a new fitness center, two conference rooms and upgraded two-sto- ry lobbies. The campus is surrounded by hundreds of restaurants and retailers within a 1-mile radius, as well as an abundance of executive housing and more than 1,500 apartment units completed within the past two years. The property affords easy access to Interstate 25 and E-470, as well as close prox- imity to public transportation at the Dry Creek and County Line light-rail stations. Westside Investment Part- ners has been actively acquir- ing office space at a discount across the southeast submar- ket in the past year, accord- ing to previous reporting. In August, Westside partnered with Knightbridge Capital to purchase the Class A, 216,645- sf Prentice Point at 5299 DTC Blvd. in Greenwood Village for $14 million. In June, West- side and Knightbridge also bought a pair of Class A office buildings totaling 222,876 sf at 8390 and 8350 E. Crescent Parkway in Greenwood Vil- lage for a total of $14.5 million. In December 2023, Westside acquired the 255,132-sf, Class AA 161 Inverness Drive West in Englewood for $16.5 mil- lion. Based in Denver, Westside Investment Partners operates in all real estate classes. The firm’s mission is to “surpass our investor expectations with every new project and collab- oration,” according to West- side’s website. The firm has 30 active projects, more than 30 completed projects, and $3 bil- lion of assets sold, its website said. s Westside acquires Campus at Waterview The 302-unit One City Block consists of four buildings on a site comprising an entire block in the Uptown neighborhood. CBRE The Campus at Waterview, located at 8000-8005 S. Chester St. and 9155 E. Nichols Ave., features three premier, state-of-the-art office buildings. Please see CBRE, Page 40