Colorado-Real-Estate-Journal_482725

INSIDE 12 6 FEATURED CONTENTS SEPTEMBER 17-30, 2025 Office 6 Industrial 8 Multifamily 12 Retail 16 Who's News 22 Finance 24 Law & Accounting 28 CDE News 30 8 Medical campus Highlands Ranch medical outpatient buildings sell for $41 million New headquarters Kaufman & Robinson Inc. plans new facility in Wellington Garden-style Nearon buys Copperleaf Place Apartments for $27.8 million 16 Legacy retail Brinkman Real Estate spins off Sundance Plaza for $18.93M by Avalon Jacka DENVER – Demolition has started on a former news channel building to make way for new housing in downtown Denver. PMG and joint venture partner Greybrook Realty Partners Inc. will develop a 508,998-square-foot residen- tial community named Soci- ety Denver on the site of the former Denver7 building at 123 Speer Blvd. Demolition of the brutalist-style struc- ture, built in 1969, began in late August and is expected to take about 12 weeks. The development team is cur- rently refining the construc- tion plan and time frame now that the project has conceptual approval. Society Denver will be delivered in one phase; a representative declined to provide an exact delivery date as the construc- tion plan is still being deter- mined, but PMG’s website indicates an anticipated 2027 completion. “The development team appreciates the support of the community as demolition signifies a bright new future for this property,” said Brian Koles, PMG senior director, corporate development. The joint venture acquired the building from Scripps Media Inc. for $35 million in 2021, according to Den- ver County public records. The project has received site Demolition makes way for 481 MF units by Avalon Jacka BROOMFIELD – A 297-unit garden-style community near the junction of Wadsworth Parkway and U.S. Highways 36 and 287 traded hands for $85 million, or $286,195 per unit, or $300 per square foot, in August. FPM Partners acquired Har- vest Station, located at 11775 Wadsworth Blvd., from Ham- ilton Zanze. The purchase marks the buyer’s entrance to the Colorado market. “We are thrilled with the sale of Harvest Station,” said Hamilton Zanze Senior Direc- tor of Transactions Anthony Ly. “This remains a challeng- ing environment in which to complete dispositions, but this was an attractive property for buyers because of the out- standing efforts of our asset and property management teams over the past decade. This transaction is truly a win- win and represents a great outcome for our investors.” Hamilton Zanze purchased the property in 2016 for $67.2 million, according to Apart- ment Insights. David Potarf, Dan Wood- ward, Matt Barnett and Jake Young of Walker & Dunlop represented the seller in the transaction. The team received a lot of interest and offers for the property, Potarf said. “There’s still a lot of interest in Colorado from the West Coast,” Potarf said. “A lot of the people that were inter- ested (in the asset) were West Coast-based, and they see Denver is still a strong mar- ket with a bright future and good fundamentals going for- ward.” The 283,175-sf community features a mix of one-, two- and three-bedroom units ranging from 835 to 1,406 sf and averaging 953 sf. Unit interiors include 9-foot ceil- ings, granite countertops with tile backsplashes, wood-style plank flooring, modern cabi- netry with brushed nickel hardware, pendant lighting, washers and dryers, walk-in closets, programmable ther- mostats, and private patios or balconies. Select units fea- ture built-in bookshelves and mountain views. The commu- nity was 91.6% occupied at the time of sale. Built in 2014, Harvest Sta- tion features a resort-style swimming pool and spa, grilling stations, an out- door fireplace and television lounge, a resident clubhouse with a gaming lounge, a busi- ness center, a dog park and dog wash, a 24-hour fitness FPM Partners purchases Harvest Station Located at 11775 Wadsworth Blvd., Harvest Station features a mix of one-, two- and three-bedroom units ranging from 835 to 1,406 square feet and averaging 953 sf. Please see Harvest Station, Page 22 The 12-week demolition of the former Denver7 building will make way for a market-rate residential develop- ment named Society Denver with 481 units, 35,000 square feet of amenity space and 9,666 sf of retail space. Please see Demolition, Page 22