Colorado-Real-Estate-Journal_476911

Page 8 - August 20-September 2, 2025 www.crej.com F rom the constructionof tene- ments in the 1800s to thehigh- rise steeland concrete luxury residential towersbuilt today, for-renthousinghas comea longway.Butone constant is the useofwood tobuild rentalhous- ing.Over theyears,architectsand engineershavepushed the limitsof whatwood cando,and theadoption of the 2015 InternationalBuilding Codeallows this to continue. Not everyone ishappy though. Therehasbeen some recentback- lashabout thenumberof four-and continueddemand forhousing,esca- lating construction pricesand theabil- ity toachieve even higherdensities under the recent IBC,wedon’tantic- ipate thenumber ofnewwood-frame buildingsadded to theDenver land- scapewilldimin- ish. Themost sig- ability todesignapodiumbuilding basedon theoverallbuildingheight. Podiumbuildingswillno longer be restricted toonlyone levelof podium structurebelow thepodium deck. This givesdesigners theability to designa seven-story,midrisebuild- ingwith five levelsofwood-frame constructionover two levelsof con- cretepodium –allabove grade.With thisadditionalabove-grade levelof concrete, the flexibilityandoppor- tunities to increasedensity, reduce costorbothbecomepossible. outof the ground to save the costof building subterranean,which is typi- cal in traditionalpodiumdesigns. Anotheroptionwouldbe to leave the subterraneanparking,which allowsanadditional levelof residen- tialunitswithin the concretepor- tionof the structure, thus increasing density.Bothoptionswill change how thedesignworldand residen- tialdevelopers lookat thepotential ofa site. When evaluatinganapartment site,adeveloper typically considers Photography©BradNicol The2015 InternationalBuildingCodeofferswood-frame construction theability todesignapodiumbuildingbasedon theoverallbuildingheight.Podiumbuildingswillno longerbe restricted to only one level of podium structure below the podium deck. October 2015 New wood-frame codes allow for more flexibility NathanSciarra, AIA Studio director, KTGYArchitecture + Planning,Denver 1536 Cole Blvd., Building 4, Suite 300, Lakewood, CO 80401 | 303-623-1148 | www.crej.com Jon Stern Publisher & Founder x 101 jstern@crej.com All rights reserved. No part of this publication may be stored, reproduced, or transmitted in any form or by any means without the publisher’s prior written permission. All contributed articles published in the Colorado Real Estate Journal represent solely the individual opinions of the writers, and not those of the Colorado Real Estate Journal. REPORT AN ERROR IMMEDIATELY (ISSN 1060-4383) Vol. 34 No. 16 www.crej.com EDITORIAL CONSULTANT: Jill Jamieson-Nichols PRODUCTION/GRAPHIC DESIGN: Heather Lewis ext.108 hlewis@crej.com CREJ CONFERENCE SERIES: Jon Stern ext.101 jstern@crej.com ADVERTISING: Lori Golightly ext.102 lgolightly@crej.com CUSTOMER SERVICE: Jolene Wollett ext.103 jwollett@crej.com EDITORIAL Avalon Jacka, Reporter Sales, Lease and New Development Projects: Office, Industrial, Multifamily, Retail, Health Care, Senior Housing, Hotel, Land Finance Transactions ext.107, ajacka@crej.com Kris Stern Associate Quarterlies Publisher: Office & Industrial Properties, Retail Properties, Multifamily Properties, Property Management, Health Care, Senior & Life Sciences Editor: Construction, Design & Engineering News; Property Management News; Who’s News; and Expert Articles, including Law, Accounting and Finance Publisher: Building Dialogue ext. 109, kostern@crej.com MARKETING Lori Golightly, Director of Client Services Advertising: Print & Digital Conferences: Exhibitor/Sponsor Information ext. 102, lgolightly@crej.com Office quality early childhood educa- tion to underserved and rap- idly growing communities,” a statement from Lee & Associ- ates said. “Each new location marks more than just a lease – it’s a reflection of Willowbrae’s continued commitment to delivering exceptional early education,” Thurber said. “It’s rewarding to support a mission that aligns closely with what I value as both a professional and a parent.” Willowbrae will make improvements to the space prior to its October opening. n BROOMFIELD – An 11,640-sf office building off Main Street traded hands for $1.85 million in August. Broomfield Islamic Com- munity Center of Colorado acquired the office building at 6855 W. 119th Ave. from TBNT LLC and Colorado Consoli- dated Hold- ings Group LLC, according to Broomfield County public records. Mark Alley of Pinna- cle Real Estate Advisors LLC r e p r e s e n t e d both parties in the transaction. “This listing attracted con- siderable interest, resulting in a strong owner-user demand,” Alley said. “The property’s prime location and versatile design drove its appeal, closing at $158 per square foot.” The asset is located in a com- petitive submarket with very little inventory, according to a LoopNet listing. Built in 1976 and renovated in 2014, the property features interiors and exteriors in “great” condi- tion, “excellent” exposure and signage on a corner lot, B-2 zoning, a 3.44:1,000-sf parking ratio, and easy access to Den- ver, Boulder and the northern suburbs, the listing said. n CASTLE ROCK – An office/retail building at the base of the Castle Rock sold for $2.53 million in July. Buyer 2950 West Point Holdings acquired the two- story building at 734 Wilcox St. from Seven34 LLC. The seller was represented by John V. Propp of John Propp Com- mercial Group, and the buyer was represented by Andrew Monette of Pinnacle Real Estate Advisors LLC. Built in 2007, the 8,969-sf building has retail space on the ground floor and office space on the second floor. The ten- ant roster features a mix of diverse businesses, including Crowfoot Valley Coffee, Kat Pro Studio, Michoacan a Pedir de Boca, Shadow Rock Den- tistry, and Envision Counseling Clinic. The buyer will continue to operate the property as an investment. n GOLDEN – A boutique fitness facility leased space within an office park in the foothills. The Training Spot signed a 10-year lease for a 3,856-sf unit at 433 Park Point Drive from landlord Genesee Real Estate 18 LLC. The tenant is relocating from its cur- rent location, also in Gene- see. Wade Wil- son of Digby C o m m e r c i a l Advisors rep- resented the tenant, and Jamie Mac- Beth of Genesee Commercial Group LLC represented the landlord. The space is located in Genes- see Business Center, built in 1986, which features a brightly lit atrium and abundant park- ing, according to a LoopNet list- ing. The property is proximate to several office buildings and Genesee Town Center, which is home to several restaurants. The asset is approximately 15 minutes to downtown Golden and Lake- wood. The Training Spot offers numer- ous fitness services, including classes, resistance training, per- sonal training, massage therapy, online training and diet nutrition. The new location will open in October. n PARKER – An insurance company leased 2,086 sf of office space in downtown Parker in July. Allstate Insurance signed a long-term lease for the space at 11020 Pikes Peak Drive within the Victorian Peaks building with landlord Robelle Inc. Jay Soneff of Jamis Cos. repre- sented the tenant, and Tommy Daher and David Marulli of Trevey Commercial Real Estate represented the landlord. Victorian Peaks offers 10-foot ceilings, private entrances to suites with covered exterior walkways, common area rest- rooms and kitchenettes, accord- ing to a leasing brochure. The asset is two blocks off Main- street, providing walkability to numerous dining and retail options. s Continued from , Page 6 Mark Alley Andrew Monette John V. Propp Wade Wilson Allstate Insurance signed a long-term lease for 2,086 square feet at 11020 Pikes Peak Drive within the Victorian Peaks building from landlord Robelle Inc.