Colorado-Real-Estate-Journal_476911

INSIDE 14 6 FEATURED CONTENTS AUGUST 20-SEPTEMBER 2, 2025 Office 6 Industrial 10 Multifamily 14 Retail 18 Finance 22 Law & Accounting 30 CDE News 38 Who's News 50 10 Lease expansion Snowflake doubles its footprint to 40,000 sf at 1700 Broadway Sale-leaseback MAG Capital Partners enters market with Kodak facility purchase Mixed-use deal OlivePoint acquires first Colo. property, Stella on the Park 18 New redevelopment Stockdale Capital announces plans to revitalize The Shops at Northfield by Avalon Jacka LOVELAND – A 420-unit garden-style multifam- ily community near Centerra sold for $132.2 million, or $314,761 per unit, or $356 per square foot, in July. CSR Railways LLC, an enti- ty of Centerspace, acquired Railway Flats, situated on 16.39 acres at 2105 Hopper Lane, from MMF Railway LLC, an entity of McWhinney. The acquisition included the assumption of $76 million of long-term, below-market-rate mortgage debt, a statement from Centerspace said. Walk- er & Dunlop’s Dan Wood- ward, David Potarf, Matt Barnett and Jake Young brokered the transaction on behalf of the seller. Built in phases in 2019 and 2023, the 371,772-sf commu- nity features a mix of studios, and one-, two- and three- bedroom units averaging 885 sf in 18 buildings. Each unit includes contemporary finishes, including stainless- steel, Energy Star appliances; wood plank-style flooring; ceiling fans; central heating and air; a full-size washer and dryer; quartz countertops and tile backsplashes; and large soaking tubs. Ceiling heights range between 9 and 11 feet. Patios, balconies and storage spaces are available. The com- munity was 93.1% occupied at the time of sale. Community amenities include a fitness studio with a yoga room, large bark park and pet spa, electric vehicle chargers, a golf simulator, spa, an open-air lounge, a grilling area with outdoor kitchens, a game room, an expansive clubhouse, a conference room, package lockers, an outdoor fireplace and fire pits, a baris- ta coffee bar, and bocce ball courts. Railway Flats is near public transportation and within walking distance to Chapungu Sculpture Park. The property is adjacent to The Promenade Shops at Centerra, offering numerous retail and dining options. The community offers convenient access to Interstate 25 via U.S. Highway 34. In May, Centerspace closed on the $149 million acquisi- tion of the 341-unit Sugarmont community, its first property in the Salt Lake City market, marking an expansion of its existing Mountain West port- Centerspace buys Railway Flats for $132M by Avalon Jacka MEAD – A California- based commercial real estate investment firm acquired two preleased buildings in a Class A industrial park in a $43 million all-cash transac- tion in June. Mark IV Capital purchased Buildings 1 and 2 of Eleva- tion 25, located at 4480 and 4460 Elevation Drive, from Silver Point Development. Totaling 204,050 square feet, the buildings comprise the first phase of the project, which is planned to include a total of 1 million sf of industrial development. “Elevation 25’s position as a premier destination for industrial occupiers in Colorado’s booming north Interstate 25 corridor con- tinues to be solidified,” said Jeff Dean, Mark IV Capi- tal senior vice president, Colorado. “This acquisition aligns with Mark IV Capi- tal’s continued investment in high-growth submarkets with strong fundamentals. The two buildings, which are fully leased, validate the area’s growing appeal to manufacturing and dis- tribution tenants. With close proximity to Boulder ’s education ecosystem and startup scene, the region is attracting a younger, afford- ability-conscious workforce priced out of Denver, further fueling demand.” The seller and its partner Walker & Dunlop Invest- ment Partners were repre- sented by Colliers Interna- tional’s T.J. Smith, Nick Rice and Brad Calbert. “The site’s central loca- tion, flanked by a FedEx hub, Home Depot distribu- tion center, and key rail- served industrial parks, underscores its rising impor- tance,” Smith said. “Once an under-the-radar gap in the region’s industrial map, this ‘hole in the donut’ is now experiencing strong development momentum as demand spills over from land-constrained markets like Boulder.” Mark IV acquired 55 unde- veloped acres within the park in an off-market trans- Mark IV purchases Elevation 25 buildings Please see Elevation 25, Page 13 Mark IV Capital’s acquisition of the completed buildings at Elevation 25 brings the entire park, includ- ing undeveloped land, under its ownership. Located at 2105 Hopper Lane, Railway Flats features a mix of studios, and one-, two- and three-bed- room units averaging 885 square feet in 18 buildings. Please see Railway Flats, Page 16