Real Estate Archives - Page 3 of 4

Project Announcements

45 acres purchased for development at Stapleton

Justin August 10, 2015 at 1:12 pm 0

Rendering courtesy United Properties.

United Properties has announced that Beverage Distributors Company, LLC, Inc. has signed to lease 500,000 square feet of space and closed on the purchase of 45 acres of land from Forest City Stapleton. This land is located at I-70 and Havana Street in Denver. “This is one of the largest industrial leases ever signed in Denver, and in our portfolio of properties,” said Kevin Kelley, vice president, United Properties. Three new buildings are planned to be constructed on the land with two of them expected to break ground in September. The third building will be constructed based on market demand. The two buildings that will begin construction in September will include a 646,00 square foot distribution building that will be completed in early 2017, and a 157,000 square foot flex building that can be used for office space will be completed in the second quarter of 2016. “We are thrilled to be in the position to consolidate our operations into this new facility,” said Beverage Distributors President and CEO Joseph Marotta. “This is the culmination of the hard work of all of our associates over the past 40 years here in Colorado. This new facility will serve our business, our supplier partners and our customers for the next 20 years and beyond.” Beverage Distributors Company is the largest distributor of liquor and beer in Colorado and employs over 600 people. Once these new buildings are completed, Beverage distributors will move operations from three existing properties in Aurora to be all housed at the Stapleton property in Denver. Powers Brown Architecture designed the future buildings and the general contractor is Murray & Stafford, Inc. Along with United Properties, Mike Wafer and Tim D'Angelo of Newmark Grubb Knight Frank provided brokerage services.

Real Estate Stapleton

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WeWork leases space in Triangle Building

Justin August 3, 2015 at 11:28 am 0

Triangle Building DUR 2015.

East West Partners has announced that WeWork, a firm that provides shared workspace and services for entrepreneurs, startups, and small businesses, has signed to lease 72,000 square feet of office space at the soon-to-be completed Triangle Building. This structure has been taking shape at 1550 Wewatta Street near Denver's Union Station.

“Co-working and shared workspaces are a huge trend internationally, nationally and right here in Denver, and is a concept we really wanted to bring to the Union Station neighborhood,” said Chris Frampton, managing partner at East West Partners. “We couldn’t be more thrilled that WeWork has chosen the Triangle Building for its entrée in the Denver market.”

The WeWork space within the 10-story Triangle Building will have a ground floor private entrance with glass visibility connection to the main building lobby on floors one and two. The Triangle Building is expected to secure a LEED Gold certification for energy efficiency.

East West Partner is the developer of the Triangle Building and is also the master developer of the Union Station neighborhood and Riverfront Park.

In February it was announced that Liberty Global signed to lease 70,000 square feet in the Triangle Building.

Real Estate

TUFF SHED property sold to investor

Justin July 29, 2015 at 3:52 pm 0

Photo of Tuff Shed facility. Courtesy NGKF.

The Denver office of Newmark Grubb Knight Frank (NGKF) announced that 201 S. Rio Grande Boulevard has been bought by industrial investor Tenbar, Inc. The building is the current home of TUFF SHED. The 10,000 square foot building sold for $1,350,000 or $135 per square foot. NGKF Director Russell Gruber represented the buyer in the transaction. “TUFF SHED has been America’s leading supplier of storage buildings and garages for the past 30 years, and is synonymous with the 201 S. Rio Grande address. Everyone knows this building and TUFF SHED’s vast commitment to the Denver community makes the property a promising investment opportunity,” said Gruber. According to NGKF, TUFF SHED intends to stay at the property where its signage can be seen by automobile traffic traveling along I-25. Subtenant Brekhus Marble and Granite will also remain at the building. “The high price of $135 per square foot is an indication of the central market value. Sale activity for industrial buildings has been robust in recent years, driven by the owner, user and investment sales. Increasing rental rates attract investment buyers and prompt users to purchase their own buildings. The continuation of historically low vacancy in the central submarket will push prices and rental rates up in the coming months,” added Gruber.

Real Estate

Mountain Man Fruit & Nut Co. buys 20 acres for new facility

Justin July 17, 2015 at 12:28 am 0

Image courtesy Unique Properties, Inc.

Denver-based Unique Properties, Inc. has announced the sale of a 20-acre parcel near Centennial Airport at the Dove Valley Business Park. This land was sold to Mountain Man Fruit and Nut Co. for $2,350,000. Jerry Kempf, Senior Broker at Unique Properties represented Dove Valley Business Park in the transaction and Rick Egitto and Jeremy Reeves of Inverness Properties represented the buyer. “We are pleased to have been involved in the sale of this land parcel which will allow Mountain Man to relocate from Parker to a new 155,000 square foot corporate headquarters that will also function as a manufacturing and distribution facility.” Kempf commented. “A small retail outlet will be an added component to the facility which will be open to the public.” Currently Mountain Man Fruit & Nut Co. operates in a 67,000 square foot building where its products are manufactured and packaged. This company has been in operation since 1977. According to Unique Properties, Mountain Man Fruit & Nut Co. expects significant growth over the next 10 years and the purchase of this new property will allow the company to expand to meet its expected growth. Mountain Man expects to have the new facility operational in 2016. Today, 275 acres of developable land remains at the Dove Valley Business Park.

Unique Properties, Inc. announces three additional transactions:

A two-story 7,226 square foot office building at 6750 Emporia Street in Englewood sold for $875,000 to Emerald Property Group, LLC.Unique Properties, Inc., represented the seller, Capra Investment Company, LLLP, in the transaction. The new owner plans renovations to the property
A 6,800 square foot industrial building at 5101 Columbine Street in Denver near York Street and I-70 sold. This property once served as an RTD maintenance facility. Aaron Romero, Senior Broker at Unique Properties brokered both sides in the transaction
Unique Apartment Group, the multifamily division of Unique Properties, announced it brokered both sides of an 18-unit apartment property at 3318 - 3352 High Street in Denver. This property was purchased for $2.4 million. The units are housed in three separate buildings that were constructed in 1955.

Real Estate

MIG Real Estate acquires Iliff Business Park

Justin July 15, 2015 at 10:38 pm 0

Illif Business Park. Image courtesy MIG Real Estate

MIG Real Estate, a California-based real estate investment company announced today that it has acquired the 130,748 square foot Iliff Business Park. This space is housed in four buildings located at 2369, 2422 and 2452 South Trenton Way and 7800 East Iliff Avenue in unincorporated Arapahoe County. This property is located a few blocks from Denver's southeastern border and is approximately 2 miles north of the 1-25 and I-225 interchange. “Iliff Business Park represents an opportunity to invest in a mature southeast location with improving rents and vacancy rates,” said Greg Merage, CEO of MIG Real Estate. “Denver is becoming one of the preferred lifestyle choices for today’s professionals. Individuals and companies are singling out Denver for its desirable blend of urban activity and suburban work-life balance, with excellent access to outdoor activities.” MIG Real Estate's strategic acquisition of this office park was based on low vacancy rates in southeast Denver, the strong Denver economy, and local infrastructure. Current tenants at Iliff Business Park include Davita; Deby’s Gluten Free; Fortune 500 company, Ecolab; and Crossfit Cherry Creek. The acquisition of this property marks MIG Real Estate's tenth investment in the Denver metro area which also includes hospitality and residential real estate. Since April of 2009 MIG has added more than $1.5 billion in property in the United States and Alberta, Canada to its portfolio.

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Real Estate

Unique Properties, Inc. announces three additional transactions:

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