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AUGUST 2-15, 2017 Featured Quarterly DPC, Long Wharf buy opportunity on U.S. 36 by Jill Jamieson-Nichols A local buyer with a track record of successfully reposi- tioning properties bought a 403,871-square-foot industrial building on the U.S. Highway 36 corridor for $25.56 million. DPC Development Cos., along with Boston-based Long Wharf Capital, acquired 333- 335 Centennial Parkway in Louisville with plans to spend millions renovating it to attract tenants to 201,000 sf of avail- Inside able space. “This is an exciting opportunity to re-engage in the northwest submarket with a significant and important asset,” said Chris King, president of DPC Cos. “This is certainly one of the biggest buildings The new owners of 333-335 Centennial Parkway in Louisville will spend millions updating the property in Boulder County. We’re to attract tenants to 201,000 square feet of vacant space. going to reintroduce it to the high as I’ve ever seen it,” said leasing team. “We had good 36 corridor. There are just not market. It’s going to be like Cherry-picking longtime leasing activity while under many opportunities there for a new building, which Boul- industrial contract, so we’ve got good users wanting to be in that area. 4 An Ohio-based buyer makes its der County hasn’t seen of that Couple that with the function- initial investment in Colorado size, certainly on a spec basis, broker Alec momentum going forward,” with the $65 million purchase of in a long time.” Rhodes of said Rhodes, who added ality of the building, and it’s Broadstone Gardens at Cherry Creek DPC acquired the build- Cushman & there’s been an increase in the gotten good demand lately.” ing “at an attractive price per Wakefield, size of tenants in that submar- The building originally was square foot and a good basis, who was ket and a variety of industry a single-tenant building occu- which gives us flexibility with involved in types. pied by Hewlett-Packard. It our leasing,” he said. the sale and “The benefit of this property “Demand in that area is as Alec Rhodes is part of the is its strategic location along the Please see DPC, Page 19 ‘Unique’ luxury apartments sell for $127.4M by Jennifer Hayes One of metro Denver’s most Building trade unique multifamily properties 8 traded for $127.4 million. Saunders Construction’s new headquarters Institutional investors brings investors out of the woodwork advised by J.P. Morgan Asset Management purchased the Kent Place Residences and In the bag assumed the existing financing at closing for the 300-unit, 15 A newly built Stapleton retail center Class A property. trades in a $9.87 million transaction Located on 5.85 acres at the corner of East Hampden Avenue and University Bou- levard in the Cherry Hills Vil- Filling a ‘knead’ lage area of Englewood, Kent Place Residences is part of a 18 A gluten-free bakery hands over mixed-use development with the dough for a 165,625-square-foot approximately 34,000 square building to house its expansion feet of retail anchored by a King Soopers Fresh Fare grocer. “Kent Place is one of the Institutional investors advised by J.P. Morgan Asset Management purchased the Kent Place Residences, CONTENTS most unique multifamily a 300-unit, Class A property in one of the Rocky Mountain region’s toniest areas. Multifamily 4 Colorado Springs 20 properties in all of Denver Office 8 Law & Accounting 21 with extremely large units bins, along with Jeff Haag Real Estate Group did an placeable asset within the Industrial 12 Finance 22 to fit the area’s most promi- and Anna Stevens of HFF, outstanding job with ‘over market,” added Robbins. Retail 15 CDE 24 nent demographic,” said represented seller Forum amenititzing’ the property Kent Place Residences was Boulder County 17 Rebchook RE Corner 34 Jordan Robbins of Holliday Real Estate Group. to genuinely fit the resident Larimer & Weld Counties 18 Who’s News 40 Fenoglio Fowler LP. Rob- “Additionally, Forum profile. This is truly an irre- Please see Kent Place, Page 36 Page 2 - August 2-15, 2017 www.crej.com

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REQUEST FOR QUALIFICATIONS: PROPERTY MANAGEMENT SERVICES

The State Land Board is soliciting qualifications for property management services to exclusively manage the agency’s commercial real estate portfolio. Imagining new possibilities.

Bids due Thursday, August 10th at noon. Creating lasting communities. Learn more: Commercial real estate with a proven past and future focus Colorado.gov/statelandboard/propertyMGMT

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CB1003_Comercial Real Estate Ad_Colorado Real Estate.indd 1 5/26/17 3:00 PM Page 4 - August 2-15, 2017 www.crej.com Multifamily Connor Group enters Colo. with $65 million acquisition by Jennifer Hayes managing partner of The Connor A Dayton, Ohio-based real Group. estate investment firm made its Situated in the Cherry Creek initial investment in Colorado submarket, Gardens at Cherry with its acquisition of the Broad- Creek is near Colorado Boule- stone Gardens at Cherry Creek. vard and the mix of retail and The Connor Group paid $65 dining in Cherry Creek North million for the 191-unit com- and the Cherry Creek Shopping munity, renamed the Gardens at Center. It also is located within Cherry Creek. Located at 225 S. the Cherry Creek School District Harrison St. in Denver, the LEED and has convenient access to the Gold, Class A community was Denver Tech Center and central constructed in 2013. business district. Gardens at Cherry Creek rep- The community also has direct resents the 12th location – and access to the Cherry Creek Trail. farthest west – for The Connor “The property is well posi- Group, which owns more than tioned for future rent growth due 13,000 units across cities includ- The 191-unit Broadstone Gardens at Cherry Creek, renamed Gardens at Cherry Creek, sold to an Ohio-based buyer. to its location within the very ing Atlanta; Austin, Texas; Chica- desirable Cherry Creek submar- go; Dallas; Dayton; Minneapolis; sible market for expansion in our of Class A properties in Class A launch a new market with a high- ket and can expect to continue and Nashville, Tennessee. 2016 strategic planning process. locations and waiting for the right end community in a well-estab- “We identified Denver as a pos- We’ve been looking at a number opportunity. This is a great way to lished area,” said Larry Connor, Please see Broadstone, Page 36 Chicago buyer grows Colo. portfolio with Greenwood Plaza by Jennifer Hayes Village Center light-rail station. deal to its residents, including include balconies, gas fireplaces, public records. It had partial- A Chicago-headquartered real “Greenwood Plaza is in a prime the expansive Cherry Creek State 9-foot ceilings, full-size washers ly renovated 100 units, which estate investor and operator location near major employers, Park, golf courses, a state-of-the- and dryers, and a mix of attached include new kitchens with stain- added a Centennial apartment public transit and within walking art recreation center and the K-12 and detached garages. The 11.7- less steel appliances. community to its holdings. distance to several strong retail Cherry Creek School District, one acre community also boasts a As part of a phased capital Waterton paid $66 million for centers, including Greenwood of the highest-achieving districts resort-style swimming pool, fit- improvement program, Waterton Greenwood Plaza, a 266-unit Retail Plaza, Heritage Place in Colorado.” ness center and lounge. plans to update the remaining community at 7610 E. Caley Ave., Shopping Center and Arapahoe Greenwood Plaza features At the time of sale, the com- 166 units with a modern finish located in the Denver Tech Cen- Marketplace,” said Mark Stern, 14 garden-style buildings with munity, constructed in 1996, was package that includes new floor- ter submarket, adjacent to Fid- senior vice president of acquisi- a mix of one-, two- and three- more than 96 percent occupied. ing in kitchens and living areas dler’s Green Amphitheater and tions at Waterton. The Centen- bedroom apartments that aver- Starwood Capital Group sold convenient to the Arapahoe at nial community offers a great age 947 square feet. Apartments Greenwood Plaza, according to Please see Greenwood, Page 36

1600 Stout Street, Suite 1330, Denver, CO | 80202 | 303-623-1148 | www.crej.com Jon Stern Publisher & Founder x 101 [email protected] SUBSCRIPTIONS Jill Harris x103 [email protected] Published semi-monthly, the first and third week of each month. Subscriptions include the CREJ eNewsletter, digital edition and archives, Office Properties Quarterly, Multifamily Properties Quarterly, Retail Properties Quarterly, Property Management Quarterly, Health Care Properties Quarterly, Land & Development Quarterly and Building Dialogue magazine. Subscription rates: $85 one year; $155 two years. Single issue $4; back issues $5. Subscriptions are nonrefundable. SECTION EDITORS Jill Jamieson-Nichols x107 [email protected] Boulder County & U.S. 36 Corridor; Larimer & Weld Counties; Metro Denver: Office, Industrial, Hotel Jennifer Hayes x106 [email protected] Metro Denver: Multifamily, Retail; Finance; Western Slope/Mountain Towns; Colorado Springs/Southern Front Range; Contributed Expert Articles; Who’s News; Law & Accounting Kris Stern x109 [email protected] Construction, Design & Engineering QUARTERLIES EDITORS Michelle Askeland x104 [email protected] Multifamily Properties Quarterly Office Properties Quarterly Property Management Quarterly Retail Properties Quarterly Jennifer Hayes x106 [email protected] Health Care Properties Quarterly BUILDING DIALOGUE PUBLISHER & EDITOR Kris Stern x109 [email protected] BLOG: John Rebchook 303-945-6865 [email protected] PRODUCTION/GRAPHIC DESIGN: Heather Lewis x108 [email protected] CREJ CONFERENCE SERIES: Jon Stern x101 [email protected] PRINT & ONLINE ADVERTISING: Lori Golightly x102 [email protected] Kim Ketchel x111 [email protected] CUSTOMER SERVICE: Jolene Wollett x110 [email protected] Periodicals Postage Paid at Denver, CO POSTMASTER: Send address changes to Colorado Real Estate Journal, 1600 Stout Street, Suite 1330, Denver, CO 80202. 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. 26 No. 15 www.crej.com August 2-15, 2017 - Page 5 Page 6 - August 2-15, 2017 www.crej.com Multifamily Residential Briefs

CityView, Dinerstein Cos. to develop apts. Englewood residential development underway by Jennifer Hayes jobs and the fact that housing “We see tremendous oppor- and successful track record Iron Works Village, a 136- CityView, an investment there is simply in short sup- tunity in the Denver market of sourcing, financing and unit mixed-density neighbor- management and development ply,” said Sean Burton, chief and the location of Colorado delivering best-in-class mul- hood featuring single-family, firm focused on urban multi- executive officer of CityView. Station – conveniently located tifamily developments,” said townhome and duplex resi- family real estate, acquired a “These are the factors we look in between several business Josh Vasbinder of Dinerstein. dences, is underway in Engle- Denver property that it will for when choosing where to centers – is ideal,” added Tony “CityView’s core competency wood – the largest residential develop in partnership with invest our capital and Colo- Cardoza, managing director at of focusing on urban neigh- development in the city in 50 The Dinerstein Cos., one of the rado Station fits squarely in CityView. “We are also very borhoods will be invaluable years. nation’s largest developers. that strategy.” excited to work with Diner- to us throughout the life of The community, with prices The Class A, 350-unit Colo- Colorado Station will fea- stein as they have a tremen- this project, and we look for- starting in the mid-$300,000s, ture high-end interior finishes dous reputation in the mul- ward to delivering with them rado Station community will is slated to deliver its first and amenities, including a tifamily industry for quality, a unique building that both break ground this month. It homes in early 2018. resort-style swimming pool, sustainable projects that are complements and enhances will replace an underutilized The project is located at 601 aqua lounge, outdoor cabanas, built to endure.” the community.” retail center at the southeast W. Bates Ave., at the site of the corner of Colorado Boulevard mountain-facing roof terrace, The community will include Completion on Colorado Sta- former General Iron Found- and Evans Avenue. expansive fitness center and a a green roof system, electric tion is expected by the second ry, less than a mile from the “Denver, like all of the mar- virtual skiing simulator on site. vehicle charging station, ener- quarter of 2019. Englewood light-rail station. kets in which CityView invests, Cuningham Group Architec- gy-efficient appliances and The equity capital CityView Blvd Builders is the devel- is ideal for us given the city’s ture Inc. designed the com- other sustainable elements. is providing to purchase the oper and builder of Iron increasing population, healthy munity, which features warm, “CityView is an ideal part- property is from its CityView Works Village, which was lifestyle, proliferation of good mountain modern finishes. ner for us given their long Western Fund. designed with Pel-Ona Architects and Urbanists, to “respectfully repurpose the site and tie Iron Works Village into existing surround neighborhoods.” IS CERTAINTY OF EXECUTION Additional team members include Kephart Architecture, architect; The Fullerton Team, AT THE TOP OF YOUR LIST? led by Larry Fullerton at Liv Sotheby’s International Realty, TOP FOUR GSE LENDER IN 2016 1 sales; and Saddleback Design, design center. #2 FANNIE MAE DUS ® LENDER IN 2016 Iron Works Village features wide front porches, tree-lined, #3 FREDDIE MAC MULTIFAMILY APPROVED SELLER/SERVICER IN 2016 narrow streetscapes and #4 HUD MULTIFAMILY LENDER IN 2016 walkability. Homes include granite, stainless steel and 97% HUD APPROVAL RATE 3 wood plank floors as well as energy-efficient features such as tankless water heaters, high-efficiency furnaces and LED lighting.

East West details floor plans, pricing for condos East West Partners and its partner Ascentris opened the sales center for The Colora- dan, a 334-unit condominium project located directly behind Denver’s Union Station. The sales center will be located inside of WeWork at 1550 Wewatta St. The project, includes 33 affordable residences from 725 to 878 square feet; 49 studios of 486 or 878 sf; 113 one- YOUR LOCAL FINANCING EXPERTS bedroom residences from 795 to 1,316 sf; 114 two-bedroom RALPH LOWEN ANTHEA MARTIN residences of 1,147 to 1,647 Senior Vice President Vice President sf; 18 three-bedroom residences from 1,456 to 1,581 sf; Real Estate Finance Real Estate Finance and seven penthouses from 1,695 to 3,225 sf. Condos will start from the mid- to high [email protected] [email protected] $200,000s to more than $1.6 Phone 720.439.3203 Mobile 720.891.6537 million. Mobile 303.520.9293 Construction began in August 2016 and is slated for 1 MBA 2016 Commercial/Multifamily Annual Origination Rankings 2 Freddie Mac 3 34 HUD approvals out of 35 HUD submissions in FY 2016 completion in late 2018. The LEED Gold and Cer- tified Healthy building will feature 19,000 sf of ground- floor retail, open floor plans, a rooftop pool deck and club room, fitness room, parking FANNIE MAE FREDDIE MAC HUD BRIDGE LIFE COMPANY INVESTMENT SALES garage and resident garden. WalkerDunlop.com The Coloradan is being developed by The Colora-

California loans will be made pursuant to Finance Lenders License #603H310 / BRE Broker #01982999. dan Development Com- Please see Residential Page 36 www.crej.com August 2-15, 2017 - Page 7 Page 8 - August 2-15, 2017 www.crej.com Office

Saunders Construction Inc. moved into the new headquarters in mid-May. Investors seeking new Saunders building come out of woodwork by Jill Jamieson-Nichols So, it was one of those deals certification for the building. Saunders wasn’t looking to where you say, ‘We planned for It also has a 3-acre site next to sell its brand-new construc- a long-term hold, but we have the new building that CBRE is tion and development com- to be opportunistic,” he said, marketing for sale for office or pany headquarters, but when noting the sale was a chance to medical office development. the opportunity arose, it didn’t monetize the asset and recycle make sense not to do so. capital back into the develop- Other News ment company. Saunders sold the n Zarlengo Raub LLC, a tax “We put out a ‘Coming Soon’ 36,390-square-foot building and accounting firm, leased marketing campaign at the end at 86 Inverness Place North 7,660 square feet of office space of last year and got reaction so in Englewood for $13.3 mil- at 4865 Ward Road in Wheat quickly that we didn’t widely lion, or $365.49 per sf. It signed Ridge. market the asset,” said Jason a 12-year lease with the new Kittie Hook of Newmark Schmidt of JLL, who represent- owner, a Colorado pension Knight Frank represented the fund advised by L&B Realty ed the seller with JLL’s Patrick landlord, Silver Properties CO Advisors LLP. Devereaux. LLC. Saunders, a 45-year-old “Saunders is one of the top Re/Max Professionals was Colorado company, devel- construction companies in our the cooperating brokerage oped and built the building, state, with an impeccable repu- firm. which it moved into in May. tation, so the ability to invest Vice President of Development not just in a well-thought-out, n Coachman Energy Hold- Trae Rigby said the compa- well-designed, new building ings LLC signed a lease for ny financed but also to invest in Saunders 6,999 sf of office space at 5251 the project Construction is why we had so DTC Parkway, Suite 200, in with 10-year, much interest,” he said. Greenwood Village. fixed-rate “It’s really a well-located Trent Rice, Brian Bair and debt, intend- property, right on one of the Garrett Fugier of NAI Shames ing to hold holes of Inverness golf course,” Makovsky represented the ten- it long term. Schmidt added. “Saunders ant. The landlord is 5251 DTC But an unso- Construction and that team did Parkway LLC. licited offer a great job finding the property. Trae Rigby piqued its It was kind of a needle in the n HKS Inc. leased 6,373 sf interest, and haystack, and it was a great fit of office space at 999 18th St., We can predict the future. Saunders took the project to for their headquarters build- Suite 2101 N, in Denver. market. ing.” NAI Shames Makovsky bro- “The market is just so robust “It was a great project and a kers Dorit Fischer, Hayden right now. When we took it out, good outcome for everybody,” Hirschfeld and Joe Gargotto we were just blown away with Rigby commented. the interest and the pricing. Saunders is seeking LEED Please see Saunders, Page 10

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ENGINEERS • LAND SURVEYORS 1700 Lincoln Street, Suite 4300 | Denver, CO 80203 | PH 303-298-1122 | FX 303-296-9101 www.HarrisKocherSmith.com 303.623.6300 www.SennLaw.com www.crej.com August 2-15, 2017 - Page 9 PINNACLE REAL ESTATE ADVISORS COMMERCIAL REAL ESTATE IN DENVER - RETAIL PROPERTIES For Sale: $4,200,000 135 MAIN STREET | Dillon, CO • 8.33% CAP Rate on actual net operating income • Value-Add Mixed Use Mountain Property • Currently 73% occupied with of ce, service, and retail tenants • Over $300k invested in recent capital improvements • Located a mile and a half from the I-70 Silverthorne exit Rob Edwards 303.962.9557 Tom Ethington 303.962.9538 For Sale: $4,194,000 830 NEW MEMPHIS COURT | Castle Rock, CO • 5.50% CAP Rate • Lighted hard corner at the entrance to the Promenade at Castle Rock • Long term staggered 10 year and 7 year leases • Adjacent to the Outlets at Castle Rock, 5.2+ million visitors in 2015 • Anchor tenants include: King Soopers, Sam’s Club, Lowe’s, 24 Hour Fitness, HomeGoods, TJ Maxx etc Rob Edwards 303.962.9557 Tom Ethington 303.962.9538 For Sale: $4,784,000 820 NEW MEMPHIS COURT | Castle Rock, CO • 5.50% CAP Rate • Af uent demographics: boasting $131,000+ average household income within a 3 mile radius (CoStar 2017) • Stabile service oriented tenants • Regional trade area • Excellent access from Interstate-25 (110,000+ VPD) Rob Edwards 303.962.9557 Tom Ethington 303.962.9538 For Sale: $4,098,000 4987 FACTORY SHOPS BLVD | Castle Rock, CO • 5.85% CAP Rate • Strong service oriented restaurant and medical tenants • Zoes publicly traded on NYSE: ZOES. Zoes operates 212+ location and had 21.8% 2016 YOY sales growth • Visible to 60,000+ cars per day from Factory Shops Blvd and Meadows Parkway • Expected trade area population growth from 2017-2022 of 12.09% within a 3 mile radius (CoStar 2017) Rob Edwards 303.962.9557 Tom Ethington 303.962.9538 303.962.9555 One Broadway Suite A300 | Denver CO 80203 www.PinnacleREA.com Delivering innovative real estate solutions that are client-centric and relationship-focused Page 10 - August 2-15, 2017 www.crej.com Office U.S. Bank targets former Arrow campus for expansion by Jill Jamieson-Nichols a conference/training facility U.S. Bank is on target for for up to 400 people. expansion in the Denver area Jason Sheehy of Colliers Inter- after acquiring a pair of former national, who assisted Colliers’ Arrow Electronics buildings Irvine, California, office in rep- for $17.75 million. resenting U.S. Bank, said the Arrow sold the buildings property’s condition and loca- at 7459 S. Lima St. and 79 tion in Inverness Business Park Inverness Drive East in Engle- were appealing. wood within days of relocating “We were committed to locat- to its new headquarters in Cen- ing a space that would bring us tennial. U.S. Bank will move together, be conveniently locat- more than 400 employees to ed for our staff and provide the campus and plans to hire amenities that boost comfort an additional 300, according to and productivity. We believe an announcement. we’ve achieved that and look “U.S. Bank has strong roots in forward to settling into the Denver, dating back to before Col- new offices,” Salem said. orado was officially a state,” Has- U.S. Bank will increase its san Salem, market president for U.S. Bank will occupy the former Arrow Electronics buildings in Inverness Business Park in Englewood. workforce starting in October. U.S. Bank in Colorado, said in the Employees working in a cor- statement. “We believe in the qual- Electronics in 1999. tenants to lease it, users to buy were remodeled within the last porate office in Centennial will ity of the Denver workforce, the U.S. Bank bought them fully it, and several investor offers two years. begin transitioning to the new campus at the end of the year. strength of this state’s economy furnished and “in excellent con- as well because of the large “We were able to sell the and our ability to continue to earn parking ratio, and it was very, buildings within a week or two Arapahoe County, the Den- dition,” said Newmark Knight trust in this great state. This expan- very well maintained by Arrow after they moved out,” he said. ver South Economic Devel- Frank Executive Managing Direc- sion allows us to build upon the Electronics,” said Addlesperg- In addition to a 6.5:1,000 opment Partnership and the faith our customers have in us to tor Jason Addlesperger, who said er, who represented Arrow parking ratio, the campus has Metro Denver Economic Devel- deliver a great experience.” there was very strong interest in Electronics with David Lee, heavy power and data capabil- opment Corp. supported U.S. The buildings, 65,700 and 49,500 the campus. also an executive managing ity, a full kitchen and cafeteria, Bank in its efforts to acquire the square feet, were built for Arrow “We had a lot of interest from director at NKF. The buildings coffee bars, a fitness center and property. Saunders Continued from Page 8 n San Engineering LLC neering services company will The Class C building, 100 per- ties Inc.-TCN Worldwide, who bought a 5,846-sf office build- move its headquarters into the cent occupied at the time of the handled both sides of the transac- LBA represented the tenant. ing at 1550 W. Littleton Blvd. in building and use a small por- sale, was built in 1974 and has tion. It includes monument sig- Realty Fund II – Company III Littleton for $650,000. tion of it to generate leasing been well maintained, according nage, off-street parking and prox- LLC is the landlord. The civil and structural engi- income. to Brad Gilpin of Unique Proper- imity to downtown Littleton.

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Multi-Tenant Office/Retail Bank Two Tenant NNN Lease Investment 5353 W Dartmouth Ave | Denver, CO Eagleridge Shopping Center 77,965 SF | 3.49acre lot 4410 N Freeway Rd | Pueblo, CO Anchored by extremely well performing Wells Fargo Bank 7,840 RSF | 62,111 SF lot | Pad Site in Front of Home Depot Strong Rent Roll with myriad long term tenants 100% Leased - Corporate Verizon and EyeMart Express Excellent Demographics Excellent Interstate Visibility — Top Location Adjacent to King Soopers and Walmart Marketplace Easy access from I-25 and Highway 50 Excellent condition with Recent Capital Improvements Pueblo, Colorado — 100,000+ Population 8.24% CAP Rate $9,700,000 6.85% CAP Rate $2,675,000 Contact Matt Call 303.956.5781 direct [email protected] John Witt 303.748.8390 direct [email protected] Contact Matt Call 303.956.5781 direct [email protected] Matt Kulbe 720.635.4591 direct [email protected] John Witt 303.748.8390 direct [email protected]

Single Tenant NNN Retail Single Tenant Net Leased Office 2893 North Avenue |Grand Junction, Colorado 2270 La Montana Way | Colorado Springs, Colorado New 15 Year Lease with 3 Five Year Options 21,030 RSF | 1.71 Acre lo Fortune 500 Corporate Lease 2 Story Oﬃce Building Brand New 2017 Construction Extremely attractive physical asset, remodeled in 2015 6,192 SF Building | 0.67 Acre Lot Excellent north central Colorado Springs location Growing trade area 119,800 daytime population and over 40,000 households Strong single tenant asset with 5 years remaining on primary term 5.40% CAP Rate $2,283,000 8.00% CAP Rate $3,375,000 Contact Brent Ham 303.513.8189 direct [email protected] Matt Call 303.956.5781 direct [email protected] Contact Matt Call 303.956.5781 direct [email protected] 720.420.7530 INTEGRITY COMMITMENT www.navpointre.com SUCCESS Page 12 - August 2-15, 2017 www.crej.com Industrial Flex building leased to CenturyLink sells for $7.33 million by Jill Jamieson-Nichols on its lease, had a great credit tenant,” said Other News seller, 3495 Wynkoop LLC. A local investor paid $7.33 plus options, Gruber. Gruber said the buyer hasn’t n A 12,500-square-foot cor- million for an Englewood flex according to Gruber and Steve Fletcher of formulated plans for the prop- ner development site in the property that is fully leased to Newmark Newmark Knight Frank repre- erty. “They have not made any Knight Frank sented the seller, BDC II LLC. River North Art District traded a strong-credit tenant. formal decisions of what to do Managing Joe Krahn and Dan Bess of for $1.81 million, or $145 per sf. PTREH LLC bought the yet. They just wanted to get Director Rus- Cushman & Wakefield repre- Wynkoop Investors LLC, an 25,000-square-foot Century- into the RiNo market,” he said. sell Gruber. sented the buyer, who owns out-of-state group making its Link building on 8.74 acres “It was other properties in the vicinity. first acquisition in Denver, pur- n Viveve Medical Inc. sub- at 7759 S. Wheeling Court in Russell Gruber a Class A The building has approxi- chased the property at 3495 leased 12,303 sf of industrial Englewood. The building was building, so mately 60 percent office build- Wynkoop St. There is a 3,945-sf space at 345 Inverness Drive constructed in 2012 as a build- it’s very hands-off for the new out. Most of the site is fenced. building on the site. in Englewood from Ingredion to-suit for CenturyLink, which landlord. It was in fabulous There were multiple offers Russell Gruber of Newmark Inc. has several years remaining condition, being so new, and it for the property, Gruber said. Knight Frank represented the Keith Bell, David Lee, Jason Addlesperger and Billy Wood- ward of Newmark Knight Frank represented the landlord. Colliers International represented the tenant.

n Gruber also represented 2879 S. Shoshone St. LLC in the sale of a 10,350-sf industrial building at 2879 S. Shoshone St. in Englewood. The property sold to 2879 S. Shoshone Warehouse LLC for $1.25 million. The buyer is affiliated with Healthcare Storage Solutions Corp., a medical supply company that will occupy the space. The company has out- grown its existing facility in Denver, according to Tim Shea of Colliers International, who represented the buyer. The existing tenant plans to The building at 7759 S. Wheeling Court in Englewood was a build-to-suit for CenturyLink. relocate. www.crej.com August 2-15, 2017 - Page 13 Page 14 - August 2-15, 2017 www.crej.com Industrial Huge industrial acquisition includes Denver properties by Jill Jamieson-Nichols infill locations to distribution, leased to a “very stable rent roll real estate sector over two years and good diversification for Ivanhoé Cambridge acquired e-commerce and light-manufac- with pretty long-term expira- ago with the intention of making our office portfolio in terms of five Denver buildings as part of an turing customers with a focus on tions,” with the largest tenant a strategic investment in this asset underlying economic drivers. approximately $1 billion purchase last-mile distribution, according occupying 126,000 sf, according class,” Arthur Lloyd, president We believe we have found the of Evergreen Industrial Properties to Montreal-based Ivanhoé Cam- to Jim Bolt, of CBRE, which co- of Ivanhoé Cambridge’s North right fit with Evergreen. We bridge. advised Evergreen Properties with from TPG Real Estate. American office, said in a news continue to look for opportu- The Denver buildings, totaling Eastdil Secured. The Evergreen portfolio includ- release. nities as we plan to grow our 644,422 square feet, are located in “It’s so hard for anybody to buy ed more than 150 properties total- “Industrial real estate offers industrial business in the years Upland Distribution Center and large packages of industrial prop- an attractive current return to come.” ing about 16 million square feet Denver Business Center. They erties anywhere in the U.S. of any in 18 major markets, both high- include 12601 E. 33rd Ave., 211,278 quality. It’s just a continuation of growth markets like Denver and sf; 12650 E. 33rd, 54,280 sf; 12775 E. the trend where they are so highly Seattle, and major distribution 38th, 125,949 sf; 12850 E. 40th Ave., sought after,” said Bolt. hubs including Atlanta, Chicago 200,000 sf; and 10660 E. 51st Ave., “We are very enthusiastic about and Dallas. 52,915 sf. this acquisition. We started look- The buildings offer strategic The buildings were 97 percent ing at companies in the industrial

Rick Kooker, Rick Kooker Photography Going full tilt Concrete panels are lifted into place at Summit Distribution Center, DCT Industrial’s new 168,029-square-foot speculative development at 40th Avenue and Salida Street in Aurora. "The project took a major step forward this week with vertical construction going up," said Mark Bowen, senior vice president of DCT Industrial. "The project will be ready for occupancy in the fourth quarter of 2017." Currently available for lease, the building will have Class A features including 32-foot ceilings, dock-high and drive-in loading, trailer The building at 12775 E. 38th Ave. was among five Denver industrial buildings that sold as part of an approxi- storage, an ESFR sprinkler system and LED warehouse lighting. mately $1 billion acquisition. www.crej.com August 2-15, 2017 - Page 15 Retail Stapleton area retail center sells for $9.87 million by Jennifer Hayes czyk ideals lined up with our Ori- A newly built center in the gin brand,” said Walker Thrash, growing Stapleton submarket partner with the Thrash Group. sold for $9.87 million to a Califor- “We couldn’t have asked for a nia-based buyer. more exceptional first in develop- The private investor paid $539 ment from the Thrash Group and per square foot for Northfield Marczyk’s to have a signature Shopping Center, an 18,299-sf fine grocer on the ground floor center at 9135-9165 E. Northfield of a unique independent hotel,” added Westminster Mayor Herb Blvd. in Denver. Atchison. “The property has an attrac- “We want to be the most local tive tenant mix that makes a hotel in the area and it made sense great match to partner with the premier local with the rap- fine foods grocer. We aim to be idly growing the starting point for the traveler’s Stapleton sub- experience in Westminster, and market. There are excited about the offerings we are long-term, can explore together,” said Thrash. absolute triple Construction wrapped earlier this year on the Northfield Shopping Center, which traded for more than $530 In addition to integrating Marc- net leases in per square foot. zyk Fine Foods into its lobby area, place, which Origin will feature a chef-driven Completed earlier this year, it open its third location on the first Marczyk is gladly taking on the Ryan Bowlby will provide a restaurant, and is looking for a floor of the Origin hotel in down- role of “pioneer” in this move, stable income was 100 percent leased at the time first-floor retailer to complement town Westminster. knowing that its other two Den- stream to the buyer while requir- of sale with three tenants cur- the grocer. ing very little management,” said rently open and the balance in The 9,000-square-foot store will ver locations saw the community “The commitment of Thrash to Ryan Bowlby of Marcus & Mil- various stages of finishing out feature a full-service fresh gro- develop around them. “This is bring in a chef-driven restaurant lichap. their space. Tenants at the center cery, wine, liquor and additional not our first rodeo,” said Marc- to the hotel will only enhance It’s location at what will be a include AT&T, Costa Vida (and its in-store seating for deli and pre- zyk. “Our first two stores opened the experience for hotel guests very busy intersection at Central drive-thru), Mod Pizza, Anytime pared foods. before the neighborhoods were and shoppers to the downtown,” Park Boulevard and East North- Fitness, Eat Fit Go, Jimmy John’s, “We were attracted to this site vibrant.” said Sarah Nurmela, Downtown field with high traffic counts and Waxing the City and Main Street because of the commitment the While a specialty grocery store Westminster Real Estate and high visibility drew the buyer, Nails. city has made to build a true located on the first floor of an Development Manager. which was looking for a Denver Drake Real Estate Services, downtown with different devel- independent hotel is a unique This is the second Origin hotel asset that was well built with little according to public records, was opers and users that share a com- concept, the Thrash Group, announced in the Denver metro Pete Marczyk management, he added. the seller. mon vision,” , co- developers of Origin, is at home area, the first one is planned off The buyer was represented by founder and CEO of Marczyk with development concepts that Interstate 70 near Red Rocks Bowlby and Garrette Matlock of Other News Fine Foods, said of the decision push the boundaries. “In our first Amphitheater. Marcus & Millichap in the off- to expand the grocer’s reach to meeting with Pete, we immedi- market transaction. n Marczyk Fine Foods will Westminster. ately realized how much the Mar- Please see Stapleton, Page 46

MULTIPLE 1/2 ACRE PADS FOR SALE OWNER MOTIVATED TO CLOSE ALL PAD SALES IN 2017 ASPEN HILLS SWC 104th & Chambers Rd., Commerce City, CO

• Pads face new 123,000 SF King • Signalized intersection in Reunion Soopers anchored shopping center Residential Development • Growing underserved trade area • Full movement access behind • Build to suit possible all pads • Join 1st Bank, Dion’s, First Choice • Lot 7 under LOI Medical, Perfect Teeth and Popeye’s • Lot 10 can be subdivided multiple on this SW corner times

THE INFORMATION ABOVE HAS BEEN OBTAINED FROM SOURCES BELIEVED RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY WE HAVE NOT VERIFIED IT AND MAKE NO GUARANTEE, WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, ABOUT IT. IT IS YOUR RESPONSIBILITY TO INDEPENDENTLY CONFIRM ITS ACCURACY AND COMPLETENESS. THE INFORMATION CONTAINED HEREIN (INCLUDING, WITHOUT LIMITATION, PRICES AND RENTAL RATES) IS SUBJECT TO CHANGE AND/OR WITHDRAWAL WITHOUT NOTICE. APRIL 2016

Contact Jeffrey Hirschfeld or Alec Sowers [email protected] • [email protected] 303.454.5425 • 303.454.5423 • www.antonoff.com Page 16 - August 2-15, 2017 www.crej.com Metro Denver Belleview Station brings urban to suburbs; more to come by Jill Jamieson-Nichols with walkable retail and hip- With the first phase of develop- per, more collaborative space. ment complete, Belleview Station “I think Belleview Station is is becoming the “downtown” of the perfect example – it’s transit- the Denver Tech Center, accord- oriented, they’ve brought in the ing to Trey Warren of Front Range mixed-use nature with the office Land and Development. and the apartments, it’s close to Hundreds of people are living housing, it’s got good freeway in apartments, more and more access. It’s got a lot of the things restaurants are opening, and that I think would entice a millen- companies are settling into the nial to make that decision to come first office building, which is see- to the suburbs,” he said. ing strong leasing activity, accord- As Belleview Station evolves, ing to its developer. there’s also a transformation “As more retailers, companies going on in the surrounding area, and their employees choose to with construction of the One relocate to this area, real urban DTC West office building and synergies are starting to devel- a $51 million independent and op,” Warren said of the 51-acre assisted-living facility for seniors development off Interstate 25 on underway, for instance. East Belleview Avenue. “The goal Also, “Since we really started is to set in motion a walkable thinking about Belleview Station urban center where residents feel and planning it, we’ve seen 1,800 they are part of something and Backcountry Delicatessen is one of numerous street-level restaurants at Belleview Station. apartment units go in adjacent to build community.” us, so we’ve seen a major influx Reaching that goal will mean units; more than 100,000 square the tech center. It’s something that Denver address, but Warren said of people, which has been very even taller, more compact devel- feet of restaurant and retail space; doesn’t exist here,” he said, not- what’s “critical” for all companies helpful for our retail,” added opment going forward. and the 318,000-sf One Belleview ing flexible zoning allows a wide is being able to attract millennials. Warren. “Typically, for development Station office building. Ruth’s variety of uses within the overall “Companies understand the “I hate to use the term live, projects outside the downtown Chris Steak House, Sushi-Rama development, with a 5:1 floor- next couple of years the workforce work and play because every- urban core, the emphasis is on and other restaurants will open area ratio and 220-foot height is going to be 60 percent millenni- body does, and it’s not always quick absorption and quick sales. soon, joining more than a dozen limit. als, and they have a different value really true. But I think what we’re This often leads to development other restaurants and retailers, The Belleview light-rail station proposition. They want to be in doing here is real transit-oriented projects that are smaller, low-den- including Los Chingones, Urban connects workers and residents areas like this – walk to work, bike development,” where people can sity, with decentralized buildings Egg, Corvus Coffee, Orangethe- to other areas of Denver, includ- to work – and have conveniences live, work and have amenities constructed and sold more fre- ory Fitness and more. ing downtown, which Warren immediately available.” close at hand, he said. “It’s start- quently off ever-widening tangles What’s missing is for-sale con- said allows companies to attract Many millennials starting ing to work.” of roads,” Warren said. dominiums, which Warren said employees from throughout the to think about having fami- Building density means proj- “We want to achieve densi- developers “are still skittish” region. According to the Den- lies are making the choice ects will take longer to absorb, ties not yet seen in development about building – however, that ver South Economic Develop- to move to the suburbs, and noted Warren, who estimates Bel- outside the urban core,” he said. is starting to change. “I do think ment Partnership, seven of the often, “They’re choosing the leview Station likely will be built “We’re not going to do any more the condo market has been so nine Colorado-based Fortune employer that replicates the out over four phases. Ultimately, five-story, stick construction. It’s nonexistent for so long that there 500 company headquarters are urban environment the most,” the development will have 1,800 going to be mid- to high-rise con- is a hole to fill,” said Warren, who located in the Denver area around commented Newmark Knight residential units, with an equal struction from here on out.” has seen developers interested Belleview Station, with 227,000 Frank Executive Managing mix of apartments and for-sale Belleview Station currently in condos and mixed-use office employees working within a Director Jamie Gard, who spe- product; 300,000 sf of walkable houses two luxury apartment product. 5-mile radius. For some compa- cializes in Denver office leas- shopping and dining; more than buildings, The Den and Mile- In addition, “I think there’s a nies, being north of Belleview is ing and sales. “They’re trying 2.2 million sf of office; and a House, with a combined 678 need for a nice, boutique hotel in important for its recognizable, to find something on light rail hotel.

Interest heats up as auction for TOD site winds down by Jill Jamieson-Nichols transit-oriented nature makes A rare, large parcel of transit- it especially desirable to pro- oriented development land in spective buyers. According to Lakewood is closer to having the city, the MCT zoning is the a new owner with an online highest density zoning that will auction process heading into be allowed in Lakewood, he the final stretch. said. The 59-acre parcel at the JLL assisted GSA in market- Federal Center light-rail sta- ing the parcel. tion is drawing “quite a bit” of The auction deadline was interest from buyers across the July 25; however, online auc- country, according to the U.S. tions often extend beyond the General Services Administra- deadline because, “Unlike eBay, tion, which owns the property. where it’s the last-minute click An informational “Industry that gets the bid,” every time a Day” on the parcel drew about high bid is received, the bidding 50 people. “We normally see period extends for another 24 25 to 30,” said Will Morgan, hours, Morgan said. The pro- GSA senior project manager. cess typically lasts one to 1½ “I’m getting more and more weeks but possibly could go calls this week, being that even longer on the Lakewood we’re so close to the end date. The General Services Administration is getting close to disposing of a 59-acre transit-oriented site at the site due to the interest level. People are just trying to get Denver Federal Center. “It’s a very transparent and those last-minute questions fair way to hold an auction. answered.” side of the W light-rail line to Use-Core-Transit develop- parcel in an area that’s seen Everybody knows exactly Located directly north of St. West Sixth Avenue, between ment. the development that Lake- what’s going on – it’s posted Anthony Hospital, the vacant Union Boulevard and Kipling “It’s such a unique oppor- wood’s seen in recent years,” there live to the website,” said land extends from the north Street. It is zoned for Mixed- tunity to have a large, vacant Morgan said, adding the site’s Morgan. www.crej.com August 2-15, 2017 - Page 17 Boulder County & U.S. 36 Corridor Boulder Junction meets up with buyer at $13.6 million by Jill Jamieson-Nichols Depot Square is permanently An affordable apartment affordable to residents earning community in one of the hot- up to 60 percent of area median test locations in Boulder sold to income. a Southern California firm for Pedersen Development Co. $13.6 million. developed the community, The nearly $200,000 per unit designed by Short Elliott Hen- Avanath Capital Management drickson Inc. LLC paid for Depot Square is “This property’s phenomenal about $173,000 per unit less location and high-quality build than what a buyer could expect made it an attractive addition to to pay for market-rate product our national portfolio,” said John in Boulder. Williams, president and chief The 71-unit LEED Gold investment officer of Avanath. property, completed in 2015, “As a newly constructed afford- is located at 3195 Pearl Park- able community within a mixed- way in Boulder Junction. It sits use, transit-oriented development, atop the Regional Transporta- Depot Square presented a com- tion District bus depot, across pelling investment opportunity to the street from Whole Foods capitalize on the demand for hous- and the new Google campus, ing near major jobs, transit options, and close to the Twenty Ninth and retail amenities, while also Depot Square is located at the Boulder Transit Center, next to the new Google campus, high-end apartments, Street shopping and entertain- shopping, and new and developing office and retail product. It is Irvine, California-based Avanath Capital’s first ment area. Please see Depot, Page 19 Colorado acquisition. Superior registers first hotel with $21 million development by Jill Jamieson-Nichols Capital LLC’s 157-acre Down- sure business. Superior is in a in Downtown Superior, where struction; and plans for com- The town of Superior is about town Superior development. developing area that attracts residential and infrastructure munity parks are underway, to see its first hotel as the Ele- “The location in Superior is many government project- work is underway, includ- according to Superior Assistant ment by Westin Boulder/Supe- a perfect location for a pur- based contractors. The Sport ing construction of road and Town Manager Martin Toth. rior gets underway. pose-built hotel like the Ele- Stable, which is very close, also landscaping improvements for Single-family and town- Glacier House Hotels will ment,” said Glacier House affords us the opportunity to Main Street, the hub of the homes also are under construc- break ground this month on Hotels Director of Operations serve the leisure market,” she development. Sawtooth Devel- tion, with some being sold six the approximately $21 million, Jennifer Romantic. “Our busi- said, referring to the multiuse opment Group is building an to 12 months ahead of comple- 121-room hotel. It will be locat- ness model relies on a mix of sports facility. $18.5 million, 60,000-sf medi- tion, according to the developer. ed along U.S. Highway 36 and both extended-stay corporate The hotel will join a cal office building; a 240-space McCaslin Boulevard in Ranch business and weekend lei- 7,500-square-foot retail center parking garage is under con- Please see Superior, Page 19 WE KNOW NOCO.

Fort Collins 970-229-9900 400 E Horsetooth, Suite 200 Fort Collins, CO 80525 Loveland 970-593-9900 350 E 7th St, Suite 2 Loveland, CO 80537 Greeley 970-346-9900 1711 61st Ave, Suite 104 Greeley, CO 80634 Page 18 - August 2-15, 2017 www.crej.com Larimer & Weld Counties Manufacturing building goes from pipelines to baked goods by Jill Jamieson-Nichols A gluten-free bakery hand- ed over the dough for a 165,625-square-foot manufacturing facility that will house its expansion. The owners of Loveland-based Canyon Bakehouse bought the former Fiberspar building at 3600 Ronald Reagan Blvd. in Johnstown for $14.74 million. Canyon Bakehouse will move three of its four facilities into the building this year. “We’re growing, so we’re expanding capacity,” said Josh Skow, who co-founded the company with his wife, Christi, and partner Ed Miknevicius in 2009. “We currently operate out of about a total of 60,000 square feet. This is more than we need The building at 3600 Ronald Reagan Blvd. is being transformed into a food production facility. today, but it will provide some good, existing space for growth the new building immediate- a goal of being operational there “We had been looking for son and Mike Camp of CBRE’s over the next five years, and we ly. It will spend the coming in December. over a year with them,” said Denver office negotiated a lease believe we’ll be using it up.” The company will maintain its Mike Eyer, a vice president in buyout as part of the transac- months retrofitting the space Canyon Bakehouse will freezer/cooler building across CBRE’s Fort Collins office. “We tion. Eyer, Julius Tabert, John move its corporate offices to and installing equipment with U.S. Highway 34 for now but looked up and down the Front Rue and Kit Brown of CBRE has the 31,600-sf building listed Range, and this was really the in Fort Collins represented for sale. Freezer/cooler space best fit for them based upon a Canyon Bakehouse, and Andy will be added to the new build- number of variables: location, Sandquist of CBRE’s Chicago ‘This is more than we need today, ing in the future. the way the building was con- office represented the seller, Canyon Bakehouse consid- structed and layout,” he said. Broadstone Net Lease, a New but it will provide some good, ered multiple options for its McWhinney built the state- York-based real estate invest- expansion, including subleasing of-the-art building in 2012 for ment trust. existing space for growth over the the building or building its own Fiberspar, an oil and gas pipe- The building sits on a 17-acre facility. line company that was bought fully fenced site. next five years, and we believe we’ll “We were going down the out by National Oilwell Varco. Canyon Bakehouse produces be using it up.’ path of doing a custom build in NOV vacated the property, but whole grain, gluten-free bread the area, and then we were able had nine years remaining on products that are sold at gro- – Josh Skow, Canyon Bakehouse to strike a deal with these guys,” the lease. cery stores and natural foods said Skow. Murray Platt, Bill Thomp- stores.

Office building on I-25 in Loveland garners $4.95M by Jill Jamieson-Nichols retail property at 1220 W. A Northern Colorado family Elizabeth St. in Fort Collins. bought an office building on The family sold that property the Interstate 25 corridor in to a student-house developer Loveland for $4.95 million, or and also was deploying funds $237.52 per square foot. from the sale of an underpass Five Drafts LLC acquired property that was sold under the 20,840-sf building at 3553 threat of eminent domain, said Clydesdale Parkway as part Justie Nicol, who manages of a 1031 exchange. The build- Five Drafts LLC. ing is 100 percent occupied by “We wanted to diversify the multiple tenants, the largest of portfolio of real estate hold- which are Colorado Christian ings that our family owns. University and Eye Academy We wanted something with a of America. good location, and given the “We had a fair amount of constraints of Campus West, activity when we went under something with some growth contract. It was a fully leased potential,” she said. investment. There’s just not “They’re going to be able to very many of those in North- build really strong equity over ern Colorado, and the location, there on I-25 by the growth being right off I-25 with expo- that’s in and around the area sure, was a big selling point,” right now,” said Cobey Wess, said CBRE a senior adviser in SVN/Den- Vice Presi- ver Commercial’s Northern The building at 3553 Clydesdale Parkway in Loveland sold for $237.52 per square foot. dent Mike Colorado Division who repre- Eyer. sented Five Drafts in the sale. 2.1 acres. The lot could sup- market, so there is possible It’s within a 15-minute drive of The acqui- Also, “It has a buildable lot port approximately 8,000 sf upside as those leases roll Fort Collins, Windsor, Loveland sition was that was included, so they’ll of additional construction, over. and Greeley. a 1031 be able to expand the office although the buyer currently Located in Crossroads Busi- Eyer represented the seller, exchange building if they wish.” has no plans to expand the ness Park, the building is close to Kurt Austin Properties LLC, with for the Cam- The three-story building, building. restaurants, retail, hotels and the CBRE brokers, Julius Tabert, Jon Mike Eyer pus West built in 2006, is located on Some of the rents are below Fort Collins-Loveland airport. Rue and Kit Brown. www.crej.com August 2-15, 2017 - Page 19 DPC Continued from Page 1 and Cushman from local groups, private equity The available space will be gutted Ball and Cushman & Wake- & Wakefield syndication groups and institu- and “white-boxed.” field’s Joe Krahn will be working Manufacturing building goes from pipelines to baked goods now houses two tenants, Bestop, a brokers Jim tional buyers, he said. “For tenants desiring a Boulder/ with Rhodes to lease up the vacan- longstanding Jeep and truck acces- Brady and “I think it’s a great opportunity Broomfield location, 333-335 Cen- cy. The new ownership intends to sories company, and ServTech Campbell in a very tight submarket, so it will tennial Parkway offers functional “take good care of” Bestop and Inc., which manufactures electri- Davis. be fun to watch DPC transform and flexible space to accommodate ServTech, which King called “real- cal motor controls used in oilfield “The build- the property and hopefully be suc- manufacturing, warehouse, office ly good Boulder County business- equipment. W.P. Carey primarily ing is in cessful in getting it repositioned,” and R&D uses with mountain es” and “really good for this park.” owns net-leased properties, “So need of some Myles said. views, 28-foot-clear ceiling clear- “We hope to get one or two other the idea of breaking the building R.C. Myles improvements “We feel like the pricing was ance, excellent power infrastruc- tenants that are similar business- up into a multitenant scheme is to make it leas- strong for the seller. I think it ture and an unparalleled location es. The two existing spaces are in really not what they wanted to able for multiple tenants. DPC is worked out well on both sides.” with access to U.S. Highway 36 really nice condition. We’re going do, necessarily,” said Cushman & really good at that type of thing.” Improvements will include new and other tremendous amenities,” to bring the vacant space to be Wakefield’s R.C. Myles, who rep- There was broad interest in the tenant entrances, loading docks said Chris Ball of Cushman & more commensurate with that,” resented the seller with Rhodes, property, and a number of offers and LED lighting, for instance. Wakefield. King said. Depot Continued from Page 17 per month, nearly double the taurants, retail, and hospitality in and improve operational efficien- ment community at 1420 Renais- average monthly rent of $1,200 at the area.” cies to drive value and increase net sance Drive in southwest Long- maintaining affordability in one of Depot Square. Consisting of 38 percent one- operating income. mont. the most cost-burdened markets “Boulder’s explosive job growth, bedroom and 62 percent two-bed- With all of the development Developed by Longmont- in the state.” population gains, and strong mar- room units, Depot Square features underway and planned in the based Actis LLC, the commu- “The advantages of affordabil- ket fundamentals have fueled large patios and balconies; floor- vicinity, “There are a lot of jobs nity includes one- to three- ity are tremendous in a market year-over-year rental increases, to-ceiling tinted, custom glass there,” but few affordable living bedroom apartments from 662 like Boulder because, once you resulting in tremendous demand windows; open floor plans; and options, said Ozment, who rep- to 1,320 square feet. Amenities reach stabilization, it’s very rare for affordable housing to support wood-style plank flooring. Resi- resented Pedersen Development include a swimming pool, spa, that you have vacancy,” said ARA this growing workforce,” Williams dents enjoy free access to the entire sun deck, fitness center and Newmark Vice Chairman Shane in the sale with ARA Newmark’s commented. “Google is develop- RTD transit system. clubhouse with a TV lounge. Ozment. “So, you’re buying a Terrance Hunt, Jeff Hawks, Doug The apartments are next to a 382- The 14-acre property also fea- bond in a market that’s extreme- ing a 330,000-square-foot office Andrews, Justin Hunt and Andy space parking garage, Hyatt hotel tures open, grassy areas; a ly tight on housing, and really a campus directly across the street Hellman. and 100,000 sf of newly completed community garden; mountain Main and Main location. from Depot Square and expand- Avanath Capital Management office space at Boulder Commons. views; and access to neighbor- “These deals just don’t come up ing from 340 to 1,500 employees. is an institutional fund manager Rêve, with 108,700 sf of office and hood open space, parks and very often, and if you can find one Based on these factors, this proper- that has invested more than $1 bil- 24,500 sf of retail space, along with trails. that is in a location that you like, ty is well-positioned to command lion in affordable and workforce 240 high-end apartments, will “With VerraWest, we’ve and especially a brand-new deal, high occupancies and generate housing properties throughout be developed catty-corner from taken design features, service you’re buying a bond forever. If attractive risk-adjusted returns to the United States. The company is Depot Square. and modern amenities that you’re happy with whatever the our investors.” targeting the Denver and Boulder Depot Square’s on-site amenities you’d typically find in urban yield is on that bond, there’s very, The first phase of the Google areas for future investments. include a community center, laun- areas and integrated them into very limited downside,” he said. campus is slated for completion dry rooms, storage and garage this beautiful setting in a way According to ARA Newmark, by the end of this year. Other Other News parking. that supports the southwest Boulder has one of the best apart- notable high-tech employers in Avanath Capital plans to imple- n Leasing is underway at Ver- Longmont lifestyle,” said Actis ment markets in the country, and the area include IBM Corp., Ball ment light capital improvements raWest, a high-end, 276-unit apart- CEO Richard Groves. the highest four-quarter average Aerospace, Lockheed Martin and price per unit (more than $373,000) Oracle. and price per square foot ($442) in “When people think of tech Colorado. Depot Square was built workers, they tend to focus on to satisfy the affordability require- the Google engineers and neglect ment for the high-end Solana 3100 to consider the customer support Pearl apartments across the street, team and service staff,” said Wil- which sold for $426,332 per unit in liams. “Depot Square will cater late 2016. to the thousands of service sec- Rents for market-rate apart- tor employees at these major tech Actis LLC recently completed VerraWest, a high-end, 276-unit apartment community at 1420 Renaissance Drive ments in Boulder average $2,100 companies, and also at nearby res- in southwest Longmont. (See Other News) Superior Continued from Page 17 in Aurora, Westminster and Highlands Ranch. “Having Element Hotel as The Element by Westin Boul- the first of potentially multiple der/Superior, designed by PK hotels in the project is a great Architects of Tempe, Arizona, step, and we hope to continue is scheduled to be completed in this momentum going forward late August 2018. with additional types of com- “A recognized industry lead- mercial development in this area er in the eco space, Element to serve our community,” Toth by Westin Superior offers trav- said. elers a fresh interpretation of “This mixed-use develop- the traditional hotel experience ment has been a focus of our with natural light, modern community for many years, design, healthy options and and the town is excited to have green-minded sensibilities,” Element Hotel here at the out- said Karissa Nelson, develop- set of the project. Being able to ment manager with Glacier host out-of-town guests in our House Hotels. community is something we’ve The hotel will feature com- looked toward, and it’s great to plimentary breakfast choices The Element by Westin Boulder/Superior will be the first hotel in the town of Superior and Glacier House Hotels’ first ground-up development in Colorado. see this development come to including smoothies, granola fruition.” and more, and complimentary In addition to having the evening wine receptions. to Borrow program, which offers uct and has years of experience Goldman Sachs’ Whitehall distinction of being Superior’s Studios and one-bedroom complimentary bikes and local with brands including Hilton, Real Estate Fund for $1.2 bil- first hotel, the four-story Ele- suites include modular furnish- trail maps; a state-of-the-art, Marriott, IHG and Starwood. lion in 2006. ment will be Scottsdale, Arizo- ings, fully equipped kitchens 24-hour fitness center; a heated Its principals were involved in Downtown Superior will na-based Glacier House Hotels’ and spa-inspired bathrooms. outdoor pool; and free Wi-Fi. Tharaldson Hospitality, which have up to 1,400 residential first development in Colorado. The hotel also will have 600 sf of Glacier House Hotels focuses built and operated more than units, 817,000 sf of office and The company manages three meeting space; a gourmet pan- on acquisition, development and 400 select-service hotels since retail space, and up to 500 hotel Fairfield Inn and Suites hotels try; the chain’s signature Bikes construction of hospitality prod- 1984, selling 130 of them to rooms at completion. Page 20 - August 2-15, 2017 www.crej.com Colorado Springs/So. Front Range Midtown Flats apts. sell for fourth time in three years by Jennifer Hayes n Cascade Commercial A Colorado Springs apartment Group recently handled a community traded at a near number of leases in Colorado record-setting price per square Springs, including Capstone foot. Title Co.’s 5,548-sf office lease Midtown Flats LLC paid $4.03 at 5555 Tech Center Drive. million, or $69,483 per unit, for Cascade’s Ted Link and the Midtown Flats Apartments at David Schroeder II represent- 3950-3960 Galley Road. The price ed the tenant in the transaction. of $138 per sf represents the sec- The landlord, Tech II LLC, was ond-highest price per sf paid for represented by Brian Wagner a multifamily property built prior of Newmark Knight Frank. to 1980 to sell in Colorado Springs The duo also represented ten- over the last several years, accord- ant Apple Orthdontix in its ing to Colliers International Mul- 3,600-sf lease at 1694 Cheyenne tifamily Advisory Group. Mountain Blvd. It leased the Colliers International Multi- space within the shopping cen- family Advisory Group’s Craig ter from Cheyenne Mountain Stack and Bill Morkes represent- LLC, which represented itself in ed the seller, Mercury Real Estate the lease. Synergistic Life Services Partners. The buyer was self rep- Midtown Flats sold for $138 per square foot. resented. leased 2,164 sf of space for its The property was marketed to first Colorado office. The Illi- of Colorado LLC investment groups and received units and features amenities completed a ing is a medical office property. nois-headquartered company Dale Haskins multiple competing offers. including a swimming pool and client’s 1031 exchange involv- sold the 9,500-sf leased the space at 3630 Sin- Built in 1970, the property, laundry room. ing a number of Colorado building at 544 E. Abriendo Ave. ton Road, where it will occupy formerly known as the Gallery properties. The Fort Morgan building has space Sept. 1. Link and Schro- With sale proceeds from a been home to the Fort Morgan Apartments, was rebranded by Other News eder represented both the ten- Mercury Real Estate Partners and Denver area assisted living Times since its construction in ant and landlord in the trans- Assisted Living of received common area updates n HDR Engineering Inc. facility, 1909 and was sold by the parent action. Denver LLC over its ownership term. Mercury signed a new office lease for purchased three company of the Denver Post. The The pair also represented Real Estate purchased the com- 15,094 square feet of space in Col- value-add commercial proper- 7,500-sf building is located at 329 building owner Cutis-1 LLC in munity in March 2016. Since 2014, orado Springs. ties in Cañon City, Pueblo and Main St. its lease of 1,671 sf at 3245 Alexander the property has traded hands It leased the space at 5555 Tech Fort Morgan. REC Vice President International Circle. four times, demonstrating the Center Drive from Tech II LLC. Built in 1902, the Cañon City F. Becker oversaw the site selec- Hearing Rehab Center strength and growth of the Colo- Brian Wagner and Kent Mau building is a historic down- tion, negotiation and due dili- leased the space, which it rado Springs apartment market, of Newmark Knight Frank rep- town mixed-use property. The gence process for each acquisi- already has occupied. Dave according to Colliers. resented the landlord. JLL repre- 9,240-sf building is located at tion. Drahn of Coldwell Banker Midtown Flats comprises sented the tenant. 517-519 Main St. Sales prices were not dis- Commercial represented the entirely one-bedroom, one-bath n Real Estate Consultants Built in 1976, the Pueblo build- closed. tenant.

is pleased to announce the following sale transactions:

14,703 Square Feet $1,300,000 885 Elkton Drive Colorado Springs, CO 80907

Mike Suggs & John Onstott represented The Buyer, Elkton Premier, LLC in this transaction

Two North Cascade Avenue, Suite 300 Colorado Springs, Colorado 80903 (719) 577-0044 FAX (719) 577-0048 www.highlandcommercial.com www.crej.com August 2-15, 2017 - Page 21

With decades of experience, the real estate attorneys at Law & Accounting Davis Graham & Stubbs LLP assist clients with the acquisition, Know Colorado's roofing contract ﬁnancing, development, leasing, and disposition of all types of rules, penalties and protections real property. ummer in Colorado is ing materials $250 to $1,000, or a combination of notorious for damaging to the jobsite or imprisonment and fines. storms as well as other has performed Colorado law provides for addi- weatherS catastrophes. A build- a majority of tional civil remedies. In the event a ing’s roof is always the first sec- the roofing contractor paid, waived or rebated tion of a property to battle the work on the an owner’s deductible amount, the severe weather, which can result property; and contractor’s estimate will not be in major damage, especially with 9.A state- considered by the insurance com- hailstorms. Unfortunately, the wild ment that pany and the contractor could be storms and severe destruction of Dane Mueller, the prop- liable for any damages related to property can be accompanied by Esq. erty owner that claim. Damages may consist roofing fraud. Colorado’s Senate Senior associate, may rescind of solely the deductible amount or Robinson & Henry Bill 38, also known as the Consum- PC, Castle Rock a contract the difference between appropriate er Protection/Residential Roofing for services, roofing materials and any lesser Bill, was signed into law to protect the payment quality materials that a contractor citizens of this state from falling for which will be made from the may have used in order to offset victim to roofing fraudsters. proceeds of a property insurance the cost of the deductible. n Requirements. The National claim, within 72 hours after receiv- nProtections. Notably, the high- DGSlaw.com Insurance Crime Bureau recently ing notice from the insurer that the est number of consumer inquiries ranked Colorado as the second- claim is denied in whole or in part. to the Better Business Bureau of highest state for hail damage insur- n Penalties. Contractors who the Denver-Boulder area involved ance claims, only behind Texas. do not comply with S.B. 38 likely choosing reputable roofing con- Accordingly, S.B. 38 requires a writ- will find it difficult to conduct busi- tractors. However, as a potential ten and signed contract between ness with informed consumers. consumer there are many actions the property owner and the roof- An executed roofing contract that that can be taken to avoid falling ing contractor, which must include does not contain S.B. 38’s speci- victim to roofing fraud. Specifical- the following: fied requirements may be found to ly, consumers can take the below 1.The scope of the work and the be unenforceable by either party. precautions to minimize their risks materials to be provided; Finding the contract to be unen- in entering into roofing contracts. 2.The cost for the work and forceable carries potentially heavy •Request the contractor’s license materials based on damages penalties for both the contractors number and confirm with your known at the time the contract is and the property owners. city/county building department entered into; For example, one possible rem- that the license number was legiti- 3.The approximate dates of ser- edy for finding the roofing con- mately issued and is current. vice; tract to be unenforceable would be •Ensure that the contractor is 4.The roofing contractor’s con- quantum meruit. In essence, this registered to conduct business in tact information; means that the owner would likely Colorado by visiting the Colorado 5.The identification and contact still have to pay a reasonable sum Secretary of State’s business data- information of the contractor’s of money for the services rendered base. surety and liability coverage insur- by the contractor; however, the •Request to view a copy of the er; amount paid may be significantly company’s certificates of insur- 6.The contractor’s policy regardless than the amount the contractor ance. ing cancellation of the contract was expecting to receive from the •Contact the Colorado Roofing and refund of any deposit includ- job. So, generally, neither party to Association, which maintains a ing a rescission clause allowing an unenforceable roofing contract current list of licensed and proper- the property owner to rescind the would benefit. ly insured contractors who passed contract for roofing services and Also, Colorado’s criminal statute a nationally recognized exam that obtain a full refund of any deposit mandates that a contractor cannot addresses roofing work on resi- within 72 hours after entering the pay, waive or rebate an insurance dential and commercial properties. contract; deductible for a building owner. •Contact the Better Business 7.A statement that if the property Under Colorado law, such inter- Bureau to check for complaints. owner plans to pay for the roof- ference by the contractor or other •Obtain more than one estimate. ing services through an insurance third party, with the contractual •Review all documents provid- claim, the contractor cannot pay, agreement between an insurer and ed to your insurance carrier. waive or rebate the homeowner’s an insured, is considered property •Never pay a contractor in full insurance deductible in part or in insurance abuse or fraud, depend- or execute the completion certifi- whole; ing on the specific facts. The crime cate until all the work is com- 8.A statement that the contractor is charged as a Class 2 misdemean- pleted. shall hold in trust any payment or. Class 2 misdemeanors carry a •Confirm the contract includes from the property owner until the potential sentence of three to 12 all the requirements established in contractor has delivered the roof- months imprisonment, a fine of S.B. 38.

Adding value to the commercial real estate industry for over 25 years. Tax Planning & Structuring Financial Statement Audits & Reviews Estate & Gi Tax Planning Tax Return Preparaon Ligaon Support

303-721-6131 richeymay.com Page 22 - August 2-15, 2017 www.crej.com Finance

INDUSTRY DIRECTORY A $21.5 million bridge loan was arranged for a newly renovated office building in Greenwood Village. COMMERCIAL REAL ESTATE JLL secures $21.5M in financing LENDERS by Jennifer Hayes along with Christina Grimme, led but also to light rail and buses JLL’s Capital Markets team the JLL team on the financing. at Orchard Station. The sur- secured $21.5 million in bridge “Quebec Court’s newly reno- rounding area includes retail Arbor Commercial Grandbridge Real Estate financing for a newly renovated vated property and incredible amenities such as the Village Mortgage, LLC Capital LLC office building in Greenwood Vil- location, combined with lowering Shops at the Landmark, Arapa- lage. interest rates and great sponsor- hoe Village Shopping Center, Bank of America Merrill Hunt Mortgage Group The loan was secured on behalf ship, made this a highly sought- the Greenwood Athletic Club Lynch – Commercial after opportunity,” said Fain. JVSC-CBRE Capital Markets of The John Madden Co., the orig- and Fiddler’s Green Amphi- Real Estate inal builder of Quebec Court as “Though the asset was 55 percent theatre. well as a number of other Class occupied, lenders were aggres- Recent renovations at Que- Bank of Colorado KeyBank N.A., KeyBank Real Estate Capital A office buildings in Greenwood sive, provided cash out even bec Court include new eleva- Village. though the asset is yet to be sta- tors, lobbies, bathrooms, inte- Bank of the West Merchants Mortgage and The loan is 79 percent loan to bilized, thus showing that there rior finishes and a rehabilitated Berkadia Commercial Trust Corp. value with an 18-month interest- is still great interest in this area.” parking garage. Mortgage, LLC Midland States Bank only term and was used to pay off Located off of Interstate 25, Last year, The John Madden existing debt, finish construction at 5700 S. Quebec St., Quebec Co. reacquired the three-sto- Bloomfield Capital Montegra Capital Resources, and attract future tenants. Court totals 136,000 sf. It offers ry building, which it built in Partners, LLC Private Lender Managing Director Baxter Fain, tenants access not only to I-25 1979. CBRE|Capital Markets Mutual of Omaha Bank Chase Commercial Term NorthMarq Capital, Inc. Lending Depot Square receives funding RNB Lending Group Citywide Banks by Jennifer Hayes nity. Irena Edwards, senior vice development known as Boulder TCF Bank An $8.5 million bridge-to-agen- president of Key’s CDLI group, Junction. The Boulder Junction Colorado Business Bank cy loan recently was funded for arranged the financing. property will be built in phases, Terrix Financial Corporation including 200 to 300 additional Colorado Lending Source the Depot Square Apartments in The 71-unit community, con- U.S. Bank – Commercial Boulder. structed in 2015, is permanently affordable and market-rate resi- Commerce Bank Real Estate KeyBank Community Develop- restricted for tenants earning 60 dential units, commercial property and multimodal connections ment Lending & Investment pro- percent of area median income. Essex Financial Group Vectra Bank Colorado, N.A. to a commuter rail station. vided the loan, which was used to Located at 3195 Pearl Parkway, Fairview Commercial Lending Westerra Credit Union acquire the LEED Gold commu- Depot Square is part of a larger Please see Affordable, Page 46 FirstBank Holding Company

 FIND FINANCING SEARCH TOOL Exclusive Life Insurance Company Correspondent Relationships @ CMBS Conduit Lenders crej.com/lenders Debt Funds Bridge Lenders National & Regional Banks  proﬁles Government Agencies Credit Tenant Lease Financiers  photos Private Capital Sources  contacts  social links  videos  and more

1155 Canyon 1898 SS. FlFlatiron ti CCourt t GET LISTED Boulder, CO Boulder, CO $14,250,000 Permanent Loan $4,630,000 Permanent Loan Lori Golightly | 303-623-1148 x 102 |[email protected] Life Insurance Company Life Insurance Company

www.crej.com August 2-15, 2017 - Page 23

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Publication(s): Colorado Real Estate Journal Document Path: ...merce Bank:CB Ads:CB Ads_2017:Commercial NEW:06_ Material Close Date: 06/21/2017 June:062117:02:21515_CB_MoreBusiness_10_25x7_25_CREJ.indd Insertion Date: 07/05/2017 Fonts: Minion Pro (Regular), Cera PRO (Bold, Thin, Regular) Notes: None Images: 2017 CB + CA Green CMYK_stacked.eps (33.92%) Page 24 - August 2-15, 2017 www.crej.com Construction, Design & Engineering Howell Construction completes Ritz- Carlton lobby, other renovations

Howell Construction recent- planning time was spent learn- The meeting rooms included ly completed the Ritz-Carlton ing in detail the hotel’s opera- the reconfiguration of two wide lobby and plaza-level meeting tions and determining how to doors and entries, new acousti- rooms renovation in downtown complete each aspect of the proj- cal wall coverings, grand stair- The 46,000-square-foot Larimer County Building will house several Denver. The 20,000-square-foot ect with minimal disruption to case refurbishment, new deco- county offices. renovation complemented the staff and, most importantly, the rative chandeliers, new flooring recent upgrades to the guest Ritz-Carlton’s guests. and a new lighting control sys- rooms, suites, club lounge, salon, The lobby renovation specifics tem. Haselden Construction breaks spa and fitness center. Howell included decorative light fixture Howell Construction, a local- ground on Larimer County building renovated the fully operation- installation, painting ceilings/ ly owned, full-service general al hotel in a short time frame walls, new electrical outlets, new contracting firm in business Last month, Haselden Construc- house several vital county offices (under two months). acoustical wall coverings, new since 1935, provides construction broke ground on a 8.9-acre such as the Larimer County Sher- With the renovation’s short stone flooring and coordination tion management, design-build project site at First Street and Den- iff's Office, Department of Motor time frame and scheduling con- with the owner’s vendors and and collaborative construction ver Avenue in Loveland for the Vehicles, County Clerk, Larimer straints, the Howell crew said operations. Howell created a services along Colorado’s Front new Larimer County Building, County Workforce Center, and that extensive planning and new lobby lounge in an existing Range for commercial, life sci- which is scheduled for completion Larimer County Department of in late summer or early fall 2018. precise sequencing would be unused space that became an ences, health care and technol- Health and Environment. With “This [building] was the wish required. Most of the preproject extension to the elevator lobby. ogy clients. 229 parking spaces and plenty of and desire of so many people in room for expansion, the new loca- the county,” said County Com- missioner Tom Donnelly to the tion will be convenient for visitors groundbreaking crowd. “I’m and staff alike. really excited to tell you that this “This really is a great day for building is being constructed in a Loveland,” said County Commis- way that I think is consistent with sioner Steve Johnson. “Haselden the values of our community.” Construction has done the pre- “It is exciting to see so much construction work and has helped community enthusiasm for this us form a great construction team project,” said Haselden Project that’s so important for bringing Manager Kevin Hoff. “This will the project to realization.” be a great asset to all the people Haselden Construction was of Larimer County and Haselden founded in Colorado in 1973 Construction is proud to be a part and delivers sustainable projects of it.” Designed by The Architects’ throughout the Western United Studio, the $19.5 million project States. The company builds proj- will make service more conve- ect types including office, educa- Howell Construction recently completed a 20,000-square-foot lobby and plaza-level meeting nient for the southern portion of tion, health care, mountain resort, rooms renovation for the Ritz-Carlton in downtown Denver the county. At 46,000 square feet gaming, multifamily and munici- and two stories, the building will pal facilities. Conor Commercial breaks ground on Park 12 Hundred Tech Center project Conor Commercial Real from downtown Denver and is the industrial sector, that ben- Estate, a national real estate accessible to Interstates 25 and efit from its premier location and developer and member of The 76, Highway 36 and E-470. The direct transportation access,” McShane Cos., and its partner, strategic location is adjacent to remarked Sven Tustin, vice presi- WHI Real Estate Partners LP, RTD’s third largest Park-n-Ride dent of Conor Commercial Real have broken ground on their and is within a 1-mile radius Estate. “Park 12 Hundred Tech latest venture, Park 12 Hundred to numerous dining, retail and Center responds to the demand Tech Center. entertainment amenities, includ- of this underserved market by Located halfway between ing pedestrian connectivity to the providing a world-class devel- Denver and Boulder in the McShane Construction Co. and Ware Malcomb are providing the design- local trail system. The site also opment solution designed to city of Westminster, the project build construction services for Park 12 Hundred Tech Center. benefits from close proximity meet the complex needs and incorporates 324,000 square feet to quality educational facilities, requirements of today’s indus- of new Class A industrial space business park, the development manufacturing, and research- a skilled and readily available trial users.” slated for occupancy in early will feature four rear-loaded, and-development users. workforce, and a diverse selec- McShane Construction Co. second-quarter 2018. single- and/or multitenant Located off of the southwest tion of housing. and Ware Malcomb are provid- Situated on a 26-acre infill par- buildings equipped to maximize corner of West 120th Avenue “Westminster continues to ing the design-build construction cel within the well-established efficiency and functionality for and Huron Street, the site is attract a growing number of services for Park 12 Hundred Park 12 Hundred mixed-use tech-centric industrial, light- positioned just 15 minutes away businesses, specifically within Tech Center. MW Golden Constructors builds Black Hawk parking structure The city of Black Hawk select- of Black Hawk strives to main- ed MW Golden Constructors tain its old town feel, according as the contractor on record for to MWGC. A brick façade and the St. Charles Carriage House. CorTen roof will help achieve The St. Charles Carriage House this classical look. Three sepa- will be a 126-stall, three-level rate entrance and exit points, parking structure located on the and two stairwells will alleviate southeastern corner of Gregory the congestion that is a common Street and Bobtail Road in Black occurrence in parking structures. The St. Charles Carriage House will be a three-level structure. Hawk. This is the 10th project for Desman Inc. has designed MWGC in the past 10 years time recipient of the American contractors named to the ASAC preconstruction and consulting the structure to resemble local within the city of Black Hawk. Subcontractors Association of Hall of Fame. MWGC has been services throughout Colorado’s architecture of the late 1800s. MW Golden Constructors, Colorado’s Contractor of the Year providing construction manage- Front Range cities and mountain This was important, as the city located in Castle Rock, is a seven- Award, and one of six general ment, design-build, construction, towns since 1984. www.crej.com August 2-15, 2017 - Page 25 Construction, Design & Engineering Design Concepts’ Bellevue, Washington, playground celebrates grand opening

Design Concepts Commu- nity and Landscape Architects recently celebrated the opening of Inspiration Playground in Bel- levue, Washington. Inspiration Playground is part of Bellevue Downtown Park’s $5.5 million renovation. Design Concepts provided design services focused on a vision of inclusion, providing a place for families and children to play and socialize regardless of ability. “For starters, Inspiration Play- ground is not a place filled with ramps,” said Carol Henry, president of Design Concepts and principal landscape architect on the Inspiration Playground Design Concepts designed Inspiration Playground, which includes a climbing vine sculpture created by ID Sculptures. project. “It’s a barrier-free environment for side-by-side play by people of different abilities. get between canyon walls and ture and color to discover. Everyone can play together, interact with a cascading water- Design Concepts worked with regardless of abilities. Design fall. ID Sculptures and Chevo Stu- for inclusive playgrounds starts Every detail has been thought- dios, two longtime partners, to with genuine care and sensitivity fully and skillfully considered, design and fabricate the signa- to the needs of all children, their Henry said. The entry signs are ture art features. They were craft- parents, and caregivers.” at wheelchair height and include ed to provide sensory-rich and ID Sculptures designed the Wisdom Tree for the Bellevue, Washington, Inclusive environments Braille text; grade changes play experiences for all children. playground. include sensory experiences that throughout the playground are ID Sculptures fabricated the enrich the spectrum of engage- sloping and enable wheelchair majestic Wisdom Tree, Climbing faux), bugs and animals. Some embrace community gather- ment possible for children with access throughout the play- Wall and Climbing Vine. Chevo design elements are bold and ing, recreation and play, con- physical or developmental ground, including the top of the Studios created the Canyon nections to nature, and a focus challenges. At Inspiration Play- climbing wall and site overlook. Boulders and Water Table pieces. obvious while others are hid- ground, sensory-rich play expe- Quiet areas are located near The overarching design con- den for discovering during play. on the environment. The firm’s riences are included in every the entrances, where children cept for Inspiration Playground “Some nature components are current work includes a variety detail, according to Henry. For may see the whole area before is whimsical nature. literal while others fantastical,” of learning landscapes, desti- example, the art installation Can- they enter in the active play “It’s a design with a wide Henry said. nation parks, projects plugging yon Boulders maximizes senso- areas. A wavy walk with sen- range of both fantasy and real- Founded in 1981, Design “nature into play,” inclusive ry and play opportunities: Both sory-oriented plantings sur- ism,” according to Henry. Nature Concepts is nationally rec- playgrounds, new recreation children who walk and run and rounds the playground and elements include trees, plants, ognized as a leader creating amenities and planning for those who wheel themselves can provides a layer of smell, tex- flowers (some real and others and re-imagining spaces that communities. Koelbel & Co. celebrates topping out of Catalyst in River North Colorado real estate developer Koelbel & Co. announced the topping out of Catalyst, its next generation of office space under construction in Denver’s River North district. On pace to open its doors Adolfson & Peterson celebrates 70th anniversary at Denver’s ViewHouse May 1, Catalyst will be home to a vibrant mix of world- Adolfson & Peterson Construction class companies of different sizes and from different sec- celebrates 70 years in business tors – from small startups to Adolfson & Peterson Con- “We’re incredibly grateful global powerhouses. struction – along with more to all of the companies who “This construction mile- than 300 attendees representing have partnered with us since stone brings us one step closer more than 100 local architec- our founding,” said AP Senior to bringing the Catalyst con- ture, engineering and construc- Vice President Tom Horsting. cept to life,” said Dean Koel- tion industry firms – last month “Without them, we wouldn’t bel, co-developer of Catalyst. celebrated 70 years since the have had such success over the “The ultimate goal is to build completion of the company’s past 70 years and we look for- an environment where col- first construction project. The ward to many more years of laboration accelerates inno- celebration was held on the bal- teamwork.” vation within both the digital health industry, and the Den- cony of Denver’s ViewHouse. Headquartered in Minne- ver community as a whole.” In addition to celebrating 70 apolis, the company deliv- “As designer and builder, years in the industry, AP took ers collaborative building we are grateful to be a part the opportunity to show appre- solutions for clients across of this transformative project ciation for its subcontractors, the country from its regional with Koelbel & Co. and the whose teamwork encouraged offices in Charlotte, North larger development team,“ this prestigious accomplish- Carolina; Dallas; Denver; said Doug Spuler, manag- The Beck Group and Koelbel & Co. celebrate the topping out of ment. Minneapolis; and Phoenix. ing principal at The Beck Catalyst in River North. Beginning in a founder’s AP serves clients in the edu- Group. “The success of this basement, AP has grown to cation, health care, commer- milestone is in large part due on-time delivery from our look forward to continuing be a national firm employing cial, municipal, multifamily, to the high-quality perfor- design consultants and sub- 570 team members with reve- hospitality and senior living mance, focus on safety and contracting partners, and we this positive trajectory.” nue in excess of $700 million. market sectors. Page 26 - August 2-15, 2017 www.crej.com

For contact information, firm profiles & links, please visit www.crej.com and click on “Industry Directory”

SHOWCASE

PROJECT OF THE WEEK • CONSTRUCTION PROJECT OF THE WEEK • CONSTRUCTION

Taylor Kohrs completes Erie MW Golden Constructors Highlands pool, clubhouse brings Lustre Pearl to RiNo aylor Kohrs teamed with Oakwood Homes and LAI Design Group to create a W Golden Constructors teamed with Austin, Texas-based Dunlap ATX to 1.56-acre family friendly aquatic center for the new Erie Highlands community bring the first out-of-state Lustre Pearl to downtown Denver in the RiNo T in Erie. The project endured this spring’s stormy and winter weather to stay on M district. The restaurant is scheduled to be completed this month. track for residents to enjoy this summer. It will have a classic western feel that includes a main ground-level bar, and a smaller The Erie Highlands Pool and Clubhouse has many amenities, including a beach entry mezzanine bar on the upper level. Also included is a 1,000-sf patio that will be con- pool with lap lanes, sun decks, water slide and water play areas. It also includes a hot nected to the main 3,300-sf usable space. Within the restaurant, a small stage where tub, event lawn, outdoor fire pit, a modern clubhouse fully equipped with a community live bands can perform will be included. Bands from Texas and the Denver area will be kitchen, workout room, and men’s and women’s changing rooms. making regular appearances.

PROJECT OF THE WEEK • ENGINEERING PROJECT OF THE WEEK • CONSTRUCTION

Olsson Associates provides civil White Construction Group finishes engineering design for MF project Übergrippen Indoor Climbing Crag lsson Associates was retained by Milender White on behalf of Boulder County hite Construction Group recently completed the Übergrippen Indoor Housing Authority to provide civil engineering design services for this 13- Climbing Crag located in northeast Denver. The 20,733-sf building de- O acre, 200-unit multifamily development in Louisville. W signed by OLC Architecture features 16,000-sf indoor climbing surfaces Olsson provided building layout assistance and designed grading/drainage; an ac- and 40-plus-foot-tall climbing walls designed and built by Vertical Solutions, as well as celeration lane, deceleration lane and access cut on the CDOT highway; stormwater a 3,000-sf fitness area with state-of-the-art cardiovascular and strength equipment. detention; and wet and dry utility infrastructure. Olsson also provided assistance during The pre-engineered metal building was provided by Varco Pruden Buildings and the entitlements phase, construction administration services, and testing services for installed by Lefever Building Systems. Additional design accounted for climbing wall the new roadways; major utility infrastructure including storm, water and electrical loads, which are not a typical assembly tied to a typical PEMB. The project also in- services; and the 18 residential and commercial structures. The project is slated for full cluded construction of 73 parking spaces, bicycle and skateboarding racks and an build-out December. outdoor bouldering rock. www.crej.com August 2-15, 2017 - Page 27

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DIRECTORY

CONTRACTORS Pinkard Construction Company Swinerton Builders Venture Architecture INTERIOR Adolfson & Peterson Precision Contractors The Vertex Companies, Inc. VTBS Architects DESIGN Construction Provident Construction Acquilano Leslie Inc. Alliance Construction Solutions Roche Constructors Inc. ARCHITECTS ENGINEERS Andrea Schumacher Interiors, Inc. The Beck Group Saunders Construction Inc. Acquilano Leslie Inc. 68West, Inc. Barber Architecture Scheiner Commercial Group Boots Construction Company Anderson Mason Dale Anderson & Hastings Bechta Group, Ltd. (BGL) Architects Consultants, Inc. Facilities Consultants Brinkman Construction Shaw Construction Barber Architecture Baseline Engineering Corp. BOX Studios Brinkmann Constructors Swinerton Builders The Beck Group Beaudin Ganze Consulting Bryan Construction Taylor Kohrs BURKETTDESIGN, INC. Engineers Inc. BURKETTDESIGN INC. BVB General Contractors The Neenan Company Davis Partnership Architects CLH Associates LLC Coover-Clark & Associates Inc. Calcon Constructors, Inc. The Weitz Company Davis Wince Ltd. Architecture D.L. Adams & Associates Davis Partnership Architects Catamount Constructors Turner Construction Design Studio Blue Kimley-Horn and DLR Group Crosslands Construction W.E. O’Neil Construction Associates, Inc. DLR Group Company Fentress Architects dcb Construction Manhard Consulting Elsy Studios White Construction Group Company Inc. Gensler Martin/Martin Consulting Gensler Drahota – a Bryan gkkworks. Engineers Construction Company Grey Wolf Architecture PROJECT Godden|Sudik Architects Matrix Design Group Facilities Contracting Inc. MANAGEMENT H+L Architecture Grey Wolf Architecture MDP Engineering Group, P.C. FCI Constructors Inc. Catalyst Planning Group Jean Sebben Associates, LLC. M-E Engineers Inc. Foothills Commercial Builders HB&A Architecture & Planning CBRE Keeney Design M.E. Group Inc. Fransen Pittman General HOK Group Contractors Facilities Contracting, Inc. KIEDING Hord Coplan Macht MKK Consulting Engineers Inc. GE Johnson Construction Fitzmartin Consulting Kimberly Timmons Interiors Company Humphries Poli Architects P.C. Monroe & Newell Sky to Ground LLC Engineers Inc. OZ Architecture GH Phipps Construction IA – Interior Architects Companies Redland Planning Solutions Intergroup Architects Golden Triangle TENANT FINISH Shaffer-Baucom RNL Construction Inc. JOHNSON NATHAN STROHE Engineering & Consulting Bryan Construction Inc. (formerly JG Johnson Architects) Tenant Planning Services Haselden Construction LLC Vision Land Consultants Inc. Coda Construction Group KEPHART Venture Architecture Himmelman Construction, Inc. EJCM Construction KTGY Group, Inc. HITT Contracting, Inc. Management LANDSCAPE LAI Design Group OFFICE Howell Construction Facilities Contracting, Inc. ARCHITECTURE Lantz-Boggio Architects P.C. FURNITURE Hyder Construction Consilium Design, Inc. Foothills Commercial Canter & Associates Builders Inc. LOA Architecture J.E. Dunn Construction Davis Partnership Architects Contract Furnishings, Inc. HITT Contracting, Inc. MOA ARCHITECTURE JHL Constructors Inc. HOK Group Corporate Environments Howell Construction O’Bryan Partnership, Inc., Jordy Construction Architects – A.I.A. LAI Design Group ELEMENTS Jordy Construction Krische Construction OZ Architecture Land Elements, Inc. Everything for Ofﬁces Kennerly Construction Mark Young Construction PageSoutherlandPage Natural Design Solutions, Inc. Haworth Martines/Palmeiro Martines/Palmeiro RNL Norris Design Construction Construction Jordy|Carter Furnishings Roth Sheppard Architects Plan West Inc. MAX Construction, Inc. MAX Construction, Inc. Ofﬁce Scapes Rowland + Broughton Stanley Consultants Maxwell Builders, Inc. Mosaic Construction Group Architecture & Urban Design Source Four Interior Elements

Mortenson Provident Construction Studio Completiva, Inc. TEAMMATES MW Golden Constructors Sbarra Construction West Treanor HL Workplace Resource Palace Construction Co. Inc. Scheiner Commercial Tryba Architects Group, Inc. PCL Construction Services Page 28 - August 2-15, 2017 www.crej.com Construction, Design & Engineering Stewardship: Many viewpoints but only one mission

onsulting engineers are in protecting to link what users need with tions, the composition of our listening, learning, understanding trained to collaborate public safety what is possible. Options to skills and staff are changing. and executing responsibly for our with other engineers, is generated create buildings that serve Today’s engineering firms communities is stewardship. planners,C architects and owners in when trans- both owner objectives and user employ engineers, planners, Maximum success in steward- delivering complex projects. Col- portation engi- needs equitably at a reason- architects, builders, scientists, ship results from transforming laboration yields better solutions neers tighten able cost are expanding at the environmental and technology the activities that we already do and integrates diverse objectives their “system” pace of innovation. Creating specialists, public relations per- every day. As we work and par- while preserving resources and view and first the world of the future occurs sonnel and researchers. These ticipate in public life, we continue protecting public health, welfare responders when we, as consulting engi- expanded teams are helping to keep an eye on speaking up and safety. In today’s world, a Elizabeth broaden their neers, look at what is needed our communities, businesses to make sensible, engineering- collaboration among conventional Stolfus, PE “scene” view. tomorrow, employ those well- and governmental agencies to based policy. We look for missing partners is necessary; however, President, Stolfus The two views honed solutions that remain manage the consequences of partners and engage them. We & Associates Inc., consulting engineers increasingly and immediate are comple- relevant, and lead our teams to change. The many perspectives infuse the public’s image of engi- engage other professions: educa- past president of mentary, not develop, test and execute the of today’s engineering firms neers with leadership, vision and tors, first responders, business- American Council mutually next set of best practice solu- allow owners, communities responsibility. We attract the best of Engineering people, data specialists and more Companies exclusive, and tions. and even specific projects to and brightest minds of future to deliver complete projects that of Colorado, neither is com- Certainly, keeping up with draw out the best of what each generations to our profession. reflect our industry mission of Greenwood Village plete with- the pace of technological participant has to offer and to We share our knowledge and improving quality of life. out the other. advancement, including incor- resolve conflicts productively. the lessons we learn along the As technology fuses the built Our shared mission of commu- poration of artificial intel- In many ways, expanding part- way. We also make businesses environment with the human nity safety serves all. We save lives ligence and digitalization, is nerships beyond traditional teams that support the desired lifestyles experience through real-time every day when we hold each generating change all on its brings the engineer full circle from of current and future engineers; information and behavior modi- other accountable as peers to put own. Meeting our industry’s ideation through execution. It is businesses that employees want fication, consulting engineers are community first. mission to serve the values, natural for the consulting engineer to be part of in the future. shaping a better future for all as Similarly, consulting engineers health, welfare and safety of to work to understand a commu- Colorado’s consulting engi- visionary leaders with holistic, are spending more time learning the public cannot happen suc- nity’s needs and desires, to map neers are intentionally contrib- effective and inclusive approach- about building users and their cessfully absent of community those elements against a set of pos- uting our skills beyond proj- es. For example, we are apply- daily habits in developing the sys- values. Recognizing that engi- sibilities, then to optimize, design ects to make improvements in ing lessons learned by firefighters tems that make indoor spaces safe, neering firms must evolve to and execute a preferred program our communities. We continue while responding to wildfires to comfortable, useful and dynamic. deliver comprehensive solu- of improvements. The process of to support present and future improve safe and effective man- Understanding more realistically quality of life for engineers and agement of traffic crashes. Mean- what doctors, nurses, patients, our communities alike. Success while, firefighters are learning educators, students, and others Consulting engineers are spending more as stewards delivers Colora- about traffic system safety and do and how they do it informs do’s quality of life in a way that congestion consequences of lane projects in a way that matches time learning about building users and will assure that the promise of blockages, and they are able to see programming, physical consider- their daily habits in developing the systems the independent spirit of the a larger picture of how our com- ations and human elements. West and the great outdoors munity is impacted when crashes Heating, cooling, lighting and that make indoor spaces safe, comfortable, will continue to inspire and occur. many other elements of build- useful and dynamic. attract great minds for future Interestingly, maximum success ings of the future are changing generations.

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AIA Colorado Members Speak: What’s Impacting Design? As the statewide member- driving up the overall cost of Richard H. Epstein, AIA, LEED Pitkin Coun- years, you’re likely to see a ship organization for licensed construction. Good design is AP ty. Favoring lot more modern design here architects, those working still happening, but clients are Principal at re:architecture in open space Mountain Village and eventu- toward licensure and allied forced to make choices about Boulder over resi- ally Telluride.” industry professionals, we where they spend money when “Architects here are con- dents, these regularly check in with our budgets are tight. As an indus- cerned about the construc- land use Jesse Adkins, AIA members about the challeng- try, we are grateful to be busy tion defects legislation and policies have Principal at Shears Adkins es and opportunities impact- and thriving, but we are also hope recent changes will make driven peo- Rockmore ing the practice of architecture working hard to solve this very condominium projects less ple further “The Denver market has and Colorado’s built environ- real challenge.” expensive, less risky and more Chris Touchette and further evolved to the point where land ment. This month, we asked feasible. I feel the market is down-valley and hard costs for construction our members to share their Randy Shortridge, AIA, LEED maturing and there is more due to the resultant high cost have stretched the viability of thoughts on the most press- AP acceptance of a broader range of housing while perpetuating many potential projects. Navi- ing issues impacting design in Principal at [au]workshop in of architectural approaches. It the unintended consequenc- gating those Colorado. Fort Collins seems design sophistication is es of traffic and sprawl. As constraints “A pent-up demand for hous- more rewarded than previous- architects and designers, we has become Sheva P. Willoughby, AIA ing is gradually easing albeit ly, and clients are open to more are well-equipped to advo- increasingly Architect at RTA Architects in with suburban single-family experimentation. People care cate for housing while inno- difficult, thus Colorado Springs housing, three-story walk-ups about cost always but also care vatively addressing the envi- design is “Design in Southern Colo- and student-oriented housing. about quality, and some clients ronment and quality of life … clearly affect- rado is being impacted by the Construction prices are esca- are very focused on high per- tipping the scales towards a ed. While economy right now. Colora- lating dramatically as subcon- formance buildings and sus- more inclusive vision of hous- development do is in the tractors have difficulty finding tainability.” ing based on community needs Jesse Adkins continues to midst of a qualified workers. Colorado rather than the outdated fears show signs construction condominium liability law has Chris Touchette, AIA of growth.” of strength, housing in Denver boom, which been keeping higher-density, Principal at CCY Architects in is likely the single most sig- has both its for-sale projects extremely dif- Basalt Luke Trujillo, AIA nificant issue Denver is facing, positives and ficult to find, particularly at the “Housing remains an ever- Principal at TruLinea Architects even with the influx of new negatives. A lower and midmarket levels. present challenge for Western in Mountain Village apartment construction. Office, strong econo- Infill is rare except for double- Colorado. In places of extreme “We are seeing a big change retail and mixed-use projects my is always loaded corridor/large-scale demand with limited supply when it comes to the rules that are still the norm, yet many Sheva P. good, but it projects, and it seems there is like the Roaring Fork Valley, guide our local development. developers are showing signs Willoughby does put a little appetite in Fort Collins for housing is neither affordable With a younger demograph- of a “wait and see” strategy to burden on architecture that does not “fit nor attainable for most resi- ic coming in to the area, it’s consider how much the recent the industry to find tradesmen in” to the context or creates any dents. Our land use policies necessary to adjust for their development will affect the to perform the work, especially additional project cost despite were created in the 1970s to inclination towards more mod- future of the Denver market. those who are specialized and the potential value that can be slow the proliferation of resort ern design elements like lower highly skilled. That in turn is created.” condominiums in Aspen and sloped roofs. In the coming Please see AIA, Page 30 Page 30 - August 2-15, 2017 www.crej.com Business News Centennial, Citywide complete merger, grow capacity for CRE Denver-based Centenni- capacity for commercial real Miller, founder of Ascendant al Bank and Trust, a wholly estate and construction proj- Title, have partnered on a num- owned subsidiary of Heart- ects, including multifamily, ber of technology products to land Financial USA Inc., and retail, office and industrial. improve services for compa- Aurora-based Citywide Banks, The combined organization nies in the title industry. a wholly owned subsidiary of will serve clients from more “We’re excited to have Citywide Banks of Colorado than 25 Colorado banking cen- Anthony Knight and the teams Inc., recently announced that ters. in Boulder and Fort Collins join Heartland completed its acqui- Ascendant Title takes on our efforts,” said Miller. “The sition of Citywide. Boulder, Fort Collins offices The merged bank adopted team’s reputation of providing the Citywide Banks name. Ascendant Title, a Colorado- the highest quality of service With the merger, commer- based title insurance and settle- has empowered them to devel- cial real estate projects will ment agency, is expanding its op a broad client base. With the remain an important focus for statewide presence by taking support of Ascendant’s infra- the expanded Citywide Banks over two offices in Boulder and structure, technology and local organization, noted Kevin Fort Collins previously owned platform, we can provide these Quinn, president and CEO of by Kensington Vanguard. new markets the best service Citywide Banks. Now with six offices in Colo- for the best price.” “The merger more than dou- rado, Ascendant Title contin- “My partnership with Ascen- bles our banking center loca- ues to grow its diverse clien- dant Title is a fantastic oppor- tions throughout Denver, Boul- tele of investors, developers, der, the foothills and the moun- attorneys, real estate agents tunity for Boulder and Fort tains. That means we have a and lenders. The company is Collins buyers, homeowners significantly larger footprint simultaneously launching a and real estate professionals,” and team to identify financ- refinancing service at all of its Knight added. “Our clients ing needs and opportunities locations. have come to expect best-in- in the commercial real estate Anthony Knight, founder of class service, knowledge and market,” said Quinn. Core Title in 2013, merged his technology. With Ascendant’s “Our team’s strengths are three offices with Kensington out-of-the-box approach to well aligned to be competitive Vanguard in 2016. Now part- providing services, I am confi- nering with Ascendant Title, throughout the Front Range dent our offices will gain more and the mountains. Through Knight will oversee the compa- momentum and I look forward this expansion, Citywide Banks ny’s operations. Knight worked to helping Ascendant expand is focused on building on our at First American for over 10 53-year reputation in Denver’s years in business development in more markets.” commercial real estate mar- and management roles before Headquartered in Golden, ket,” he added. launching Core Title of Colora- Ascendant serves the resi- Additionally, the expanded do and Kensington Vanguard’s dential and commercial title Citywide Banks has a greater acquisition. Knight and David industry. AIA Continued from Page 29 private sectors. This, coupled long-term benefits of sustainabil- with Denver’s unprecedented ity but we still struggle with the The viability of for-sale condo- low unemployment, has made dilemma of first costs and O&M miniums has yet to be fully under- it a great place to be working. costs being tracked in completely stood, given the recent changes to In our K-12 market, recent bond separate budgets.” construction defects laws." elections have procured over $2.4 billion over the next four years; To learn more about how AIA Martha Bennett, FAIA however, the recent recession has Colorado and its nearly 2,300 Principal at Bennett Wagner Grody left a residual focus on cutting members from across the state are Architects budgets to the bone. As architects, impacting the design of a quality “A strong economy is fueling we continue to be in a strong built environment in Colorado, growth in both the public and position to educate clients on the visit www.aiacolorado.org.

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CAM – Common Area Walker Restoration Consultants Denver – 303-337-6200 Fort Collins – 970-221-1287 303-688--0944 Maintenance Services 303-694-6622 303-295-2424 SWEEPING CAM - Common Area EVAPORATIVE COOLER LIGHTING/INSTALLATION SiteSource Common Area CAFM/IWMS SOFTWARE SERVICES Maintenance Services & MAINTENANCE Maintenance 303-295-2424 CollectiveView Cooling Tower Services, Inc. Fluorescent Maintenance Co. 303-948-5117 303-268-3840 303-763-2233 303-893-5532 Martinson Snow Removal Top Gun Pressure Washing Inc. 303-424-3708 720-540-4880 CARPET EXTERIOR LANDSCAPING PLM Company, Inc. 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Mountain High Tree, Lawn 303-466-8800 303-232-0666 Murphy Company 720-257-1615 303-798-7111 & Landscape Company Mathias Lock & Key SiteSource Common Area Denver: 303-232-0666 303-292-9746 Maintenance RK Mechanical Colorado Springs: 303-948-5117 303-355-9696 ROOFING 719-444-8800 Tolin Mechanical Systems B&M Roofing of Colorado, Inc. CONCRETE Terracare Associates 303-443-5843 Swingle Lawn, Tree & Company Landscape Care Avery Asphalt, Inc. 720-384-5218 Bauen Corporation 303-744-0366 303-455-2825 Denver: 303-337-6200 303-297-3311 Fort Collins: 970-221-1287 Black Gold Construction, Inc. FACILITY MAINTENANCE CRW Inc. – Commercial North Metro Denver: 303-791-8300 CAM – Common Area METAL ROOFING/ WALL PANELS Roofing & Weatherproofing 303-422-1715 Brown Brothers Asphalt Maintenance Services 720-348-0438 303-295-2424 Douglass Colony & Concrete 303-288-2635 D & D Roofing Inc. WEATHERPROOFING 303-781-9999 Horizon Property Services, Inc. 303-287-3043 Brown Brothers Contracting, Inc. 720-298-4323 Superior Roofing Economy Asphalt & 303-476-6513 Douglass Colony 303-598-1301 Concrete Services MC Building Services 303-288-2635 Douglass Colony 303-809-5950 303-758-3336 METAL SERVICES Superior Roofing 303-288-2635 Foothills Paving & Precision Construction 303-476-6513 WeatherSure Systems Maintenance, Inc. Reidy Metal Services Inc. Solutions LLC 303-361-9000 WeatherSure Systems Incorporated 303-462-5600 303-565-1456 303-781-5454 303-781-5454 PLM Asphalt & Concrete, Inc. SiteSource Common Area Western Roofing 303-287-0777 Maintenance 303-279-4141 303-948-5117 WINDOW CLEANING Bob Popp Building Services Inc. Suburban Maintenance 303-751-3113 303-257-5575 Join the Directory Participating in this directory provides your firm year-round visibility in the newspaper and on our website. If you would like to include your firm in this directory, please contact Lori Golightly at [email protected] or 303.623.1148. www.crej.com August 2-15, 2017 - Page 33

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For more information, including exhibitor and sponorships opportunities, please call Jon Stern at 303-623-1148 ext. 101 or e-mail [email protected] Page 34 - August 2-15, 2017 www.crej.com Rebchook Real Estate Corner Daniel Murphy retires from Continuum Partners team aniel Murphy is for Mike Fal- the business,” Murphy said. est kid he had ever met in his moving to Denver as really an calling it quits after cone’s Syra- For him, his passion has life. That was good enough for opportunity for the boys to be almost a half-cen- cuse-based always been deal making. Chase Manhattan. I did a num- exposed to more than I had and turyD in the commercial real company, And unlike some develop- ber of deals with Mr. Chesbro, and be able to dream bigger estate world. Pioneer Devel- ers, to him deal making is not all of them on a handshake.” dreams than I dreamed.” “It is kind of bittersweet, as opment, in a zero sum game, in which for Sometimes, they went up Of the six children in his you can imagine,” Murphy, 1977, a decade him to win, the other side must against Mike Falcone. blended family, only one, Sean, a senior principal of Denver- before Mark lose. “We did quite well compet- 23, followed him into real estate. based Continuum Partners joined the fam- “It’s just the opposite for ing against Mike and he got Sean is an analyst at Legend told me on Monday afternoon. John Rebchook ily business me,” Murphy said. “What I to know me after a few deals,” Partners after having served as “I turned 70 in May. It is just Rebchook Real Estate after he gradu- like most about deal making Murphy recalled. an intern for superstar brokers Corner time. It is just time.” ated from col- is finding common ground When Mark Falcone joined Mike Winn and Tim Richey at Murphy joined Mark Falcone lege. between the parties and bring- his father’s firm, there was no CBRE. when he first launched Con- And before launching Pio- ing them together.” need for an introduction. While Thursday is his official tinuum Partners in 1998. Since neer Development, Mike Fal- His first deal of any sub- “My sister used to be Mark’s retirement date, he still has a then, Continuum has changed cone had gotten his start in stance was consummated in babysitter,” Murphy said. few things to finish up at Con- the urban fabric of Denver and real estate by working for Mur- 1972, when he was working Murphy ran the office divi- tinuum. first-ring suburbs such as Lake- phy’s father, Robert “Ty” Mur- for his dad. He put together sion and Mark ran the retail And Murphy has “too many wood, with a couple billion of phy. a 30,000-square-foot, 30-year division, “so we didn’t have a friends at Continuum for us to dollars in high-profile develop- “I am fortunate to have done lease for the regional head- lot of day-to-day interaction,” let him wander off completely,” ments including Belmar, Brad- this so long,” Murphy said. “It quarters in Syracuse for Royal Murphy said. according to Falcone. burn Village and the redevel- has been wonderful working Globe Insurance. And one point, the firm had Falcone noted that over the opment of Union Station. with Mark and his dad and The office building was 100 employees. “Our world was decades Murphy has served not Murphy, who had never having this continuity.” developed by Buffalo-based Syracuse, Rochester and Buf- only as a business partner but been to Denver until he joined At Continuum, Murphy Benderson Development Co., falo. Mark started developing as “my friend and brother, and Continuum, spent his first 18 was responsible for oversee- one of the nation’s largest pri- shopping centers and we went even my father at times. He will months with ing a diverse range of projects, vately held development com- as far west as Michigan and all remain of counsel to the com- the company directing all office leasing and panies of New England.” pany in his retirement and we commut- development and serving as a The deal was significant Mark Falcone wanted to will relish every moment of his ing between member of the Executive Com- because it introduced Murphy develop mixed-use projects and attention.” Denver and mittee. The committee called to Jack Chesbro, a founder of there was no market for those in Murphy also expects to spend his home- the shots on all critical devel- Benderson, who became “my upstate New York, so he moved more time mentoring young town of Syra- opment, operational, financing lifelong mentor,” Murphy said. to Denver people, both at Notre Dame and cuse, New and disposition strategies. Over the next few years, Mur- The mixed-use 16 Market possibly the University of Colo- York. His He also teaches a graduate phy would work on a number Square was the first Denver rado, the University of Denver Daniel Murphy relationship course on real estate develop- of deals with Chesbro. development by Mark Falcone and NAIOP. with Falcone ment at the University of Notre “Early on, Chase Manhat- and Dan Murphy “My wife and I both love predates Denver and Contin- Dame. tan was going to expand into “Mark moved to Denver in to ski and scuba dive. I never uum. “One of the things I tell the upstate New York and I just 1997. My wife Michelle and I skied until I was 53 and never “I have literally known Dan kids is that I think that it is begged my way into a meeting had just bought a brand-new scuba dived until I was 65.” for most of my life,” said Fal- important, no matter what with them. I needed somebody home in a suburb of Syra- And except for Canada and cone. business you go into, to find a to vouch for me and Mr. Ches- cuse. In late 1997 or early 1998, the Caribbean, he has never Indeed, Murphy went to work passion for a certain aspect of bro told them I was the smart- Mark called me and said he been out of the country. was going to do this mixed-use “We have never been to building on the 16th Street Mall Europe,” so some internation- and asked if I wanted to be his al travel will surely be on his partner on it.” retirement dance card. Murphy had traveled a lot Near the end of our conversa- to New York City, Boston, tion, he looped back to one of throughout New England and his early talking point. Chicago. “I want to finish one thought. But no city ever spoke to him I told you that when I teach that the way Denver did. graduate class on developing “The day I stepped foot in at Notre Dame I tell the young Denver, it just felt like home,” kids you have to have passion. Murphy said. For me, deal making has always At the time, they had two been my passion. One of the young sons, age 3 and 5, and reasons I know now it is time he thought Denver would be a for me to retire is that I am very better place for them to grow up content in letting go of that pas- than Syracuse. sion.” “I always felt like I dreamed Although he has children a little too small,” Murphy said. and grandchildren on the East “My vision of the world, my Coast, he will not be saying ambitions, were kind of framed goodbye to his adopted city. Dan Murphy, second from left, shown at the groundbreaking for the Waterfront Village office development by Syracuse. I came from a “Denver will always be our in Buffalo, when he worked for Mark Falcone’s father at Pioneer Development. very middle class family. I saw home.” Advertise on the See more Rebchook Real Estate Corner at www.crej.com. John Rebchook Real Estate Corner blog Rebchook’s regularly posted blogs include commercial real www.crej.com/rebchook-real-estate-stories estate news stories, in-depth looks at deals, profiles, Q&As • More than 2500 views per week and pieces on the latest trends. • Update 3x a week Contact John with story tips at • $500 per month • Ad size: 300 x 250px [email protected] or 303-945-6865. To reserve space please contact Lori Golightly [email protected] 303.623.1148 x102 www.crej.com August 2-15, 2017 - Page 35

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Tuesday, September 19, 2017 The Hyatt Regency Aurora-Denver Conference Center 13200 E. 14th Place, Aurora, CO 80011

7:00 – 7:25 a.m. Tamara Door, Chief Executive Oicer, Eric L. Tupler, Senior Managing Director – Denver, Downtown Denver Partnership HFF, Inc. Check In, Registration and Networking Moderator: Andrew Blaustein, Managing John Markovich, Senior Vice President – Denver, Director, Newmark Grubb Knight Frank FirstBank 7:25-7:30 a.m. Moderator: David J. Link, Managing Director, Welcome & Opening Remarks 9:00 – 9:45 a.m. NorthMarq Capital Jim Johnson, Managing Director, Otten Johnson Networking Break Robinson Ne & Ragonetti P.C. (Food & Beverages in Expo Hall) 11:00 – 11:45 a.m. Development and Investment Panel 7:30 – 8:15 a.m. 9:45 – 10:15 a.m. Peter Culshaw, Executive Vice President, Shea Market Update / Broker Panel Interest Rate Forecast and Federal Properties Robert M. Whittelsey, SIOR, Principal, Colliers Reserve: What Happens Next? William E. Mosher, Senior Managing Director, International David R. Kotok, Chairman and Chief Investment Trammell Crow Company John Marold, Senior Vice President, CBRE Oicer, Cumberland Advisors Austin Kane, Vice President, Regional Director, Joe Heath, Vice President, JLL Unico Properties LLC Doug Wulf, Executive Vice President, Cushman 10:15 – 11:00 a.m. & Wakefield David Sternberg, Executive Vice President, Capital Markets Panel Northern California & Mountain Regions, Jamie A. Gard, Executive Managing Director, Brookfield U.S. Oice Division Newmark Grubb Knight Frank Mike Winn, Vice Chairman, CBRE|Capital Markets Moderator TBD Dan Grooters, Executive Managing Director, Celeste Tanner, Chief Development Oicer, Newmark Grubb Knight Frank Confluent Development 8:15 – 9:00 a.m. Patrick Devereaux, Executive Vice President, Moderator: V. Michael Komppa, President, Capital Markets, JLL Corum Real Estate Group Tech Real Estate Panel Ken Gooden, Executive Vice President, JLL Jason Lewis, CEO, Managing Broker, EcoSpace

For more information, including exhibitor and sponorships opportunities, please call Jon Stern at 303-623-1148 ext. 101 or e-mail [email protected] Page 36 - August 2-15, 2017 www.crej.com Kent Place Continued from Page 1 percent larger than units at com- The penthouses range from grills, outdoor kitchens, a walk- pied at the time of sale. peting properties. 2,375 sf to 2,779 sf and contain ing trail, pool with two spas, com- The community also is located highly sought-after by investors, Apartments include oversized upgraded amenities, including munity garden, pet play area, adjacent to the Cherry Hills Vil- noted Robbins, as the commu- windows, vinyl woodplank floor- Electrolux appliances with gas bocce ball court and complimen- lage neighborhood, one of the nity constructed in 2015 had more ing, designer lighting, custom ranges, quartz countertops, hard- tary bike rentals. Additionally, most affluent areas in the Rocky than 20 showings on the asset. cabinetry, granite countertops wood flooring, glass tile back- the community includes 34,000 Mountain region, near prominent “It is such a tremendous asset, with undermount sinks, walk-in splashes, private garages, floor- sf of indoor amenity space that medical districts, with easy acces- there was a lot of interest in Kent closets, Whirlpool stainless steel to-ceiling windows, gas fireplaces includes a fitness center, cyber- sibility to the Denver Tech Cen- Place.” appliances, full-size washers and and access to a rooftop lounge. café, steam showers, yoga and ter, southeast business corridor, The community comprises dryers, and large, private balco- Community amenities at Kent spin studio, massage room, vir- downtown Denver and Cherry three four- and six-story build- nies or patios. Place include the rooftop lounge tual golf, 24-hour concierge, guest Creek as well as retail at Cher- ings that offer a mix of one-, two- Kent Place Residences also fea- with views of downtown Den- suites, a movie theater and wine ry Creek Shopping Center, The and three-bedroom apartments tures southeast Denver’s only for- ver and the Rocky Mountains, storage room. Streets at SouthGlenn and South averaging 1,243 sf – more than 25 rent penthouses. outdoor televisions and barbecue Kent Place was 95 percent occu- Pearl Street. Broadstone Continued from Page 4 the property itself had very little the buyer’s equity coming from full renovations to the common two years ago. deferred maintenance with an available cash and cash from two spaces and units, which feature Rents increased more than its strong performance going impressive potential value-add smaller communities through a hardwood floors, quartz coun- $46 during the quarter to $1,399 forward,” said David Martin of upside. This was the buyer’s first 1031 exchange. The buyer owned tertops and stainless steel appli- per unit and $1.62 per sf. The Moran & Co. acquisition of a Colorado asset; 72 units comprising mostly one- ances. The seller combined the annual rent growth rate, how- Martin, along with Moran & they plan to continue with the bedroom units in Englewood, former laundry room and a stu- ever, slowed from last quarter’s Co.’s Pamela Koster, represented unit upgrade program to increase however, it wanted the 46-unit dio unit to create a large one-bed- 4.8 percent to 4 percent. The rate seller J.P. Morgan in the transac- revenue through renovation pre- properties because of the mix of room unit that added great value though is “well above” the rate tion. miums,” said Andy Hellman of two-bedrooms for cross-selling in the sale. The out-of-state buyer of inflation. Gardens at Cherry Creek com- ARA. purposes, noted Sweeney. was seeking a strong cash-flow- After a couple of fairly anemic prises two buildings featuring 19 Hellman, along with ARA’s The communities are located ing property; Marion Place ben- quarters, the summary noted, different floorplans ranging from Justin Hunt, Terrance Hunt and at the southeast corner of West efits from remarkably fast leasing absorption was a record-high 611 to 1,386 square feet and rents Shane Ozment, listed the prop- Lilley Avenue and South Gallup due to its proximity to Cheesman 2,818 units in the quarter – the from $1,314 to $2,783. Apartments erty. Street, one block south of Little- Park, restaurants and nightlife, largest in the 13 years of survey- include a washer/dryer in every Regency Investment Group ton Boulevard. Both buildings, making it the ideal acquisition,” ing the market. It boosted the unit, deck or patio and stainless LLC was the buyer and Skyline constructed in 1961, share a 46-car said ARA’s Robert Bratley, who trailing 12-month absorption to steel appliances. The community REI LLC the seller, according to parking lot with reserved spaces. handled the sale. 6,111 units. The report cautions, includes a 24-hour fitness center, public records. Other amenities include on-site however, the absorption follows rooftop deck with Zen garden, management, laundry rooms, n Pinnacle Real Estate Advi- two slow quarters, resulting in an parking garage and swimming n A pair of sought-after apart- window AC units and limited- sors LLC’s Josh Newell repre- annual gain that was only slight- pool. ment communities in Littleton access entries. sented the local seller in the dis- ly above the average of the last recently sold for $5.52 million. The buildings include a mix of position of 499 W. Progress Ave. seven years. Other News The Regency, 5758 S. Gallup St., studio, one- and two-bedroom in Littleton. Additionally, the market saw a n and Bel-Rose, 1166 W. Lilley Ave., units. The 29-unit property sold for number of notable sales during The Fairview Apartments in comprising 46 units in adjacent The buyer and seller were not $3.37 million, or $116.21 per unit. the quarter, including the Hive at Aurora sold for $15.03 million, or buildings, were sold by a fam- identified. The property was built in 1973. 9Seventy sale in Boulder trading $150,250 per unit and $181.64 per ily ownership and management at $413,043 per unit and $474.58 square foot. group that had owned the com- n The 12-unit Marion Place n The metro Denver apart- per sf. The 100-unit community’s sale munities since 1985. The prop- apartments in Denver recently ment market is starting to show “While the rental market is marks the highest-price-per-unit erties had below-market rent, sold in a transaction handled by signs that the amount of new still performing very well from sale in Aurora for any community which offered “considerable” ARA Newmark. supply is affecting vacancy and a demand perspective, new sup- built prior to 1980, according to opportunity to increase rents to The community, located at 1258 rent growth, according to Apart- ply is being added at a faster ARA Newmark, which handled the area’s average of $1.42 per sf. Marion St., sold for $2.6 million, ment Insights’ second-quarter pace than units can be absorbed, the sale. Chuck Sweeney of Sweeney or $220,833 per unit. Built in 1960 Statistics/Trends Summary. slowly pushing up vacancy and Fairview Apartments is located Real Estate Advisors listed the and renovated in 2015, Marion The report noted that the metro dampening rent growth,” the at 14594 E. Mississippi Ave. properties, which had 18 show- Place features an average unit Denver market saw vacancy drop report noted. “Based on the large “The marketing campaign for ings in 2 ½ weeks and 10 offers size of 612 sf. 61 basis points during the second pipeline of new construction still Fairview Apartments received – six of which were around $5.5 “We were pleased to represent quarter to 5.42 percent – a sea- facing the market, these trends significant interest and generated million – and went under contract the seller of Marion Place, as ARA sonal decrease during this time of increasing vacancy and slow- a notable number of offers. What at $5.52 million with no retrading Newmark also brokered the sale of the year. However, the rate ing rent growth are expected to made the community attractive to of price. of the property to them in 2014. remains 35 bps above one year continue over the next couple of so many groups was the fact that The sale closed in 60 days with The seller has since completed ago and 125 bps above the rate years.”

Greenwood Residential Continued from Page 6 Continued from Page 6 Prince St., in Littleton. as well as carpeting in bedrooms. “Platte 56 is a terrific opportu- pany LLC, a joint venture Kitchens also will be reconfigured nity for buyers looking for new, between East West Partners and to create a more modern, open modern homes,” said Jeremy Ascentris. GE Johnson Construc- layout and enhanced with new Records, principal at Central tion Co. is the general contractor cabinetry and countertops, tile Development. “Here, they can and project management servic- backsplashes and stainless steel live on the riverfront, steps from es for the project are being pro- appliances. a trail, around the corner from vided by BuildMark. The proj- “Waterton’s interior renovations a charming historic downtown, ect’s architect is GBD, based in will generate revenue growth and within easy reach of down- Portland, Oregon, and Denver- through updating unit finishes to town Denver. It’s exceptional liv- based Semple Brown Design is ing buyers won’t find anywhere the high standards demanded by leading retail design. Urban Leg- residents today,” said Stern. end Retail and The F+B Group else in the Denver metro area at Community amenities at Ryan Dravitz will be curating and marketing this price point.” Greenwood Plaza include a fully Greenwood Plaza sold to Waterton for $66 million. the retail space. The 56-unit community offers equipped fitness center, media 1,380- to 2,111-square-foot units room, business center, outdoor seller was led by Jordan Robbins, well built and well located in an Central Development ranging in price from the mid- grilling area, clubhouse and heat- managing director, Jeff Haag, asso- “exciting” area of Denver. starts Platte 56 community $400,000s to $600,000. The two- ed outdoor swimming pool and ciate director, and Anna Stevens, Waterton also owns the 9100 Central Development is to four-bedroom units also have spa. associate director. an optional attached two-car Vance community in Westminster underway on a riverfront, town- Holliday Fenoglio Fowler LP “There was a lot of interest in the home community located west garage. and Apartments at Denver Place marketed the asset on behalf of property,” said Robbins, noting of Santa Fe Boulevard and north Units are slated to deliver next the seller and procured the buyer. the community not only offered in Denver, which together com- of Belleview Avenue, at 5000 S. year. The HFF team representing the a good value-add play but also is prise nearly 700 units. www.crej.com August 2-15, 2017 - Page 37

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Tuesday, September 19, 2017 The Hyatt Regency Aurora-Denver Conference Center 13200 E. 14th Place, Aurora, CO 80011

Randy M. Schwartz, Partner, Westfield 12:00 – 12:25 p.m. Company, Inc. 3:30 – 4:00 p.m. Check In, Registration and Networking Chris King, President & CEO, DPC Development Lender Panel Sara Croot - Executive Director and Client Jeremy J. Kroner, Vice President, CBRE Manager, Chase Commercial Term Lending 12:25 – 12:30 p.m. Moderator: Tyler Carner, Senior Vice President, CBRE Welcome & Opening Remarks Adam Sands - Senior Vice President – Denver, FirstBank David O’Brien - Principal and Stockholder, James M. Mulligan, Partner, Husch Blackwell LLP 2:00 – 2:45 p.m. Terrix Financial Peter Beugg, SIOR, SIOR Colorado Chapter Networking Break Kevin Doyle - Vice President, District Sales President; Vice President, JLL Manager, Wells Fargo SBA Lending (Food & Beverages in Expo Hall) Brian Schwartz, - Senior Vice President, Head of Commercial Mortgage Investments, Great-West Financial 12:30 – 1:15 p.m. 2:45 – 3:15 p.m. Moderator: Peter Keepper - Principal, Essex Broker Update: State of the Market and Construction and Design Trends (Product Financial Group 2018 Outlook Dierentiation; Rising Costs of Core & Shell James M. Bolt, Executive Vice President, CBRE 4:00 – 4:45 p.m. T.J. Smith, SIOR, Principal, Colliers International and TI Construction) Mike Wafer, SIOR, Executive Managing Director, Joel Scott, CEO, Murray & Staord, Inc. Owner/Developer/Investor Panel: Newmark Knight Frank Chris Alcorn, LEED AP, President, Alcorn Industrial Tops the List Drew McManus, SIOR, Managing Director, Construction, Inc. Chad Brue, Managing Partner, Brue Baukol Cushman & Wakefield Karla Nugent, Chief Business Development Capital Partners, LLC Mitchell H. Zatz, SIOR - Managing Director, JLL Oicer, Weifield Group Electrical Contracting Randall C. Hertel, Executive Vice President, Moderator: Jeremy Ballenger, Senior Vice Ned White, AIA, Senior Principal, Intergroup Architects Majestic Realty Co. President, CBRE Bryant Mazzetti, AIA, Principal-in-Charge, Ryan Good, Executive Vice President, Partner, Etkin Johnson Real Estate Partners Powers Brown Architecture Kevin Kelley, Senior Vice President – Commercial 1:15 – 2:00 p.m. Moderator: Tom Kooiman - Director of Business Development, United Properties Development - Western Region, Brinkmann Constructors “North” Is Where It’s At for Industrial Mace McClatchy, Senior Vice President, Development: North Central, North, Industrial Property Trust and Northwest 3:15 – 3:30 p.m. Mark Bowen - Senior Vice President, Wayne E. Barrett, Market Oicer, Prologis Cannabis Update DCT Industrial Ann Sperling, Senior Director, Trammell Moderator: Marshall Burton - President and CEO, Panelists TBD Confluent Development Crow Company Moderator: Steve N. Levine - Partner, Husch Blackwell LLP

For more information, including exhibitor and sponorships opportunities, please call Jon Stern at 303-623-1148 ext. 101 or e-mail [email protected] Page 38 - August 2-15, 2017 www.crej.com Capital Markets Mezzanine debt: What it is, how it works & why it's useful

t is time that borrowers cial char- yields and and adverse selection) conflicts tolerance and other character- and investors focus on acteristics, higher LTVs. and, in some cases, embedded istics, to shoulder certain risks. mezzanine debt. Mezza- it can bear However, options, the marginal cost of Mezzanine investors seek nineI debt benefits both bor- some equity- traditional capital rises at an increasing equitylike exposure but desire rowers and investors. like risks, lenders are rate as one moves down the some downside protection Mezzanine financing, which while provid- reluctant capital structure. The value of through a higher current yield. is playing an increasingly ing control to lend at embedded options will vary The embedded optionality of important role in capitalizing type features higher LTVs over the market cycles and in mezzanine investments pro- real estate assets, provides ben- found in a even though response to different kinds of vides this protection. Mezza- efits that are not easily rep- Randall Zisler, debt instru- Matthew Zisler spreads are economic shocks. nine investments, which typ- licated with a combination Ph.D. ment; Managing director, low and Mezzanine investments ically offer a higher current of pure debt and equity. The Managing director, •Partici- Ackman-Ziff, Denver stable. Due address certain market imper- Zisler Capital yield, are less sensitive than risk-adjusted return of real Associates LLC, pating debt; to non- fections, chief among them equity to fluctuations in the estate mezzanine investments Denver and price rationing, there is excess being the high cost of infor- value of the underlying assets; currently is very attractive, •Preferred demand for senior debt at pre- mation, market and valuation this suggests an obvious paral- especially given the strength equity pays dividends and is vailing lending rates and LTVs. uncertainty, and the exercise lel with high-yield bonds. Spe- of the maturing real estate senior to the common equity. We believe that the demand of control. Pure debt and equi- cifically, the price of mezzanine There are other forms of mez- for mezzanine finance reflects, ty address these concerns but markets and the reluctance of debt is less sensitive to inter- some lenders, especially banks zanine debt as well, including in part, this institutional reluc- not as effectively as mezzanine est rate shocks than is senior and insurance companies, to convertible debt. tance and market dislocation. finance. Even though these are secured debt. Thus, borrowers fund at sufficiently high loan Mezzanine widens the range Borrowers should be con- investors’ concerns, borrowers who suffer nonprice rationing to value. Mezzanine is a great of financial opportunities avail- cerned about the overall cost should be sensitive to these from banks and other tradi- way to plug the equity gap. able to investors and issuers, of capital. When mezzanine imperfections because they tional lenders or investors who Mezzanine investments come and it reduces the weighted investments are added to the can punitively lower LTVs and want to protect their downside, in just about all shapes and average cost of capital. Inves- capital structure of a single raise the cost of capital. sizes. They typically are inter- tors and issuers share these property or company, the Both investors and users of especially in an increasingly mediate in the capital structure benefits. Subordinate debt, for cost of each component of the capital share the benefits of volatile or uncertain market, of a real estate asset, between example, may appeal to bor- capital structure more closely mezzanine finance. Investors but do not have a strong opin- the senior debt and the equity. rowers or investors who find approximates the marginal receive a higher risk-adjusted ion regarding the timing of There are three major types of senior debt underwriting stan- cost of capital. The marginal return while uses of capital economic cycles, should favor entity-based mezzanine financ- dards too conservative (or mis- or incremental cost of capi- lower their weighted average mezzanine investing. ing most frequently provided priced) and pure equity too tal rises from the first dollar cost of capital. From the inves- An important portfolio con- today, ranging from the most risky, especially in the mature (essentially the risk-free rate) tor’s perspective, mezzanine sideration is as follows: The debtlike to the most equitylike: phase of a recovery. of senior secured debt to the investments make possible owners can conserve on deal- •Subordinate secured or Mezzanine must work for last (and riskiest) dollar of more highly focused risk tar- level equity and spread equity unsecured debt typically has a borrowers and investors at the equity. Senior secured debt is geting. One of the great inno- across many diverse proper- relatively high yield but has no same time. Why is this topic the cheapest capital; equity is vations of securitization is the ties, thus decreasing portfolio specific equity rights (although timely and important for inves- the most expensive. Due to the ability to package and direct risk without sacrificing port- it can participate in cash flow tors? Due to strong underly- risk of default and loss, asym- risks to those investors who folio returns. Some drawbacks or the residual). Because of its ing fundamentals and a stable metric information, potential have a comparative advantage, coverage ratios or other finan- outlook, investors seek higher principal-agent (moral hazard based on balance sheet, risk Please see Zisler, Page 41 HELLO. How can we help you?

SUBSCRIPTIONS ADVERTISING PROPERTY AVAILABLE Jill Harris Lori Golightly Lori Golightly 303-623-1148 x103 303-623-1148 x102 303-623-1148 x102

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Apartment Appraisers & Consultants &

PRESENT 2017

Thursday, September 7, 2017 • 8:30 am – 3:30 pm

ABOUT THE TOUR PROPERTY LIST: Join this highly popular event, and see the latest in recently completed Class A deals, new projects and projects under construction. Cary Bruteig Alexan Uptown of Apartment Appraisers & Consultants and Jordan Robbins and Jeff Haag Country Club Towers 2&3 from HFF will add comments about the properties during the tour. Modera Observatory Park Outlook DTC WHO SHOULD ATTEND SkyHouse The Confluence Limited to 112 owners/developers/investors and asset managers only (plus corporate sponsors) Union Denver Trammell Crow Residential COST Broe R.E. Group Mill Creek Residential $95 includes lunch, a tour guide book with the rental information about the communities visited and general market information. Evergreen Devco Simpson Housing Solana Olde Town ReyLenn REGISTRATION PM Realty To register, please visit Holland Residential http://www.apartmentappraisers.com/reg.cfm

If you have any questions, please call Cary Bruteig at 303-722-4222. SPONSORS

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Meet at Sports Authority Field at Mile High at 8:30 AM. Our parking lot is Lot D on the southwest side of the stadium, the NWC of I-25 & Colfax. For sponsorship information, please contact Jon Stern at 303-623-1148. Page 40 - August 2-15, 2017 www.crej.com Who’s News RedPeak, a Colorado-based accountant and a 2001 gradu- Bachelor of in psychology. She earned her has a Bachelor of Science multifamily owner and opera- ate of the Harvard Univer- Science in Juris Doctor from Loyola Law degree in civil engineering tor, announced two top leader- sity John F. Kennedy School architectural School in Los Angeles. She is from the University of Sas- ship changes at the firm. of Government Program for engineering. licensed to practice in Colo- katchewan and is a Canadi- Mark Windhager was Senior Executives in State and Huey cur- rado and California. an Construction Association named CEO, responsible for Local Government. Huggins rently is Gold Seal-certified project providing strategic as well as earned a Bachelor of Science in assisting on Mack Chew joined Bright- manager. day-to-day business administration from several proj- View Design Group as an leadership of the University of Montana. ects, includ- associate. Eric Thorsen joined Sage- the company Michelle Huey ing the Proj- He has managed commer- brush Cos., along with its strain addition Nancy Clanton, PE, recently ect Chalet cial projects both nationally tegic partner, Redevelopment to help- was elected president of The offices in Broomfield, noise and internationally, includ- Capital Partners, as investing guide American Council of Engi- testing at the Moxy Hotel in ing urban ment associate. future port- neering Companies of Colo- Cherry Creek, New Mexico design, cam- Thorsen will serve in a dual folio growth. rado 2017-2018 board of direc- State Police District 2’s 911 pus and role for the Windhager tors. Dispatch office and sound resort master companies formerly Clanton is president and masking design for TD Ameri- planning. by providing Mark Windhager served as owner of Clanton & Associates trade Smithtown. Chew has acquisitions, the firm’s president and co- Inc. She has been a member experience asset man- founded the company with of ACEC Colorado since 1998 Carol S. Raznick joined in 3-D visu- agement and Mike Zoellner in 2001 and has and served on the ACEC Col- Coan, Payton & Payne LLC’s alization as investor rela- orado board helped guide the company to Denver office. Mack Chew well as visual tions duties an asset base of more than of direc- Raznick’s practice focuses on impact anal- in an effort to $700 million. tors since all aspects of commercial real ysis. Some of his most notable further grow Eric Thorsen Bobby Hutchinson, the 2014. As a estate, homebuilding, financ- projects include the master and acceler- company’s chief investment board mem- ing, mergers and acquisitions, planning and design for the ate the success of both firms. officer, was ber, Clanton and general business. Intuit Campus in Mountain Previously, Thorsen was appointed previously Raznick joined the firm with View, California; the 2008 Bei- with Northstar Commercial to the firm’s served as over 35 years of experience jing Olympics Green Compe- Partners, where his role was managing secretary- in practice, tition; and the University of that of financial analyst. He board. He Nancy Clanton treasurer and including a California San Francisco Med- has held various real estate has led the vice presi- period where ical Center in San Francisco. positions throughout his firm’s acqui- dent. she served as career. sition and Clanton is a national and vice presi- Robert D. Lantz was elected financing international speaker on top- dent of real to the board of directors for Spencer Fane LLP added ics relating to sustainable Denver Council on For- Scott Sandberg Bobby Hutchinson efforts for estate-legal the partner to its seven years. design, energy efficiency and for MDC eign Relations. DCFR is a Denver office. Sandberg joined Zoellner, former CEO, has light pollution, and has been Holdings nonprofit organization oper- the firm’s litigation practice. left the firm to pursue other an instructor at the Univer- Inc., one of ated exclusively for charitable Sandberg focuses his prac- Carol S. Raznick endeavors. sity of Colorado at Boulder. the nation’s and educational purposes. tice on commercial litigation RedPeak is a privately held She is a fellow of the Illumi- largest publicly traded home- Lantz is an attorney at Coan, with an emphasis on the con- real estate company owned nating Engineering Society of builders. She has represented Payton & struction, financial services in partnership with the man- North America, the Interna- real estate developers, home- Payne LLC. and franchise industries. With agement team and Princi- tional Association of Lighting builders, investment bank- He joined the more than 18 years of experi- pal Enterprise Capital, a real Designers, Rocky Mountain ers, management companies, firm in 2015 ence, Sandberg represents con- estate private equity invest- Institute and the U.S. Green investors, entrepreneurs and with more tractors, lenders and franchi- ment manager. PEC has con- Building Council. Fortune 500 companies. than 25 years sors in issues including liabili- tinuously invested in the Clanton earned a Bachelor of Raznick received her under- of experience ty claims, bid protests, defense growth of the company since Science in architectural engi- graduate degree from the Uni- in bankrupt- of fraud, breach of contract its founding and plans to con- neering from University of versity of Colorado Boulder cy, corpo- and fair debt collection claims. tinue as RedPeak’s primary Colorado Boulder. and her Juris Doctor from Robert D. Lantz rate restruc- He earned his law degree investor going forward. ACEC Colorado also Emory University School of turing and from the University of Utah announced its other officers Law. reorganization, foreclosures, College of Law. Tracy Huggins, executive and board members. Elizabeth Cypers also has distressed property reorga- John O’Brien also joined director of the Denver Urban Craig Watts, PE, MKK Con- joined the Denver office. nization and commercial real the firm as a partner in its Renewal Authority, became sulting Engineers Inc., will Cypers’ practice is focused estate. banking and financial services the new chair of Urban Land serve as vice president and on all areas of real estate, estate Lantz previously worked practice. Institute Colorado July 1. Brad Doyle, Parsons, will planning, wills and trusts, with a boutique law firm in Huggins serve as secretary-treasurer. probate and estate administra- downtown Denver special- Melissa Moran joined was named Immediate Past President Eliz- tion, elder law, business suc- izing in bankruptcy as well CBRE’s Fort Collins office as a vice chair in abeth Stolfus, PE, Stolfus & cession planning, and small as commercial and real estate vice president with Advisory 2015 and will Associates Inc., will continue and family owned businesses. litigation. Before that, he spent and Transaction Services, spe- serve as chair board service. Cypers joined the firm with 13 years as the law clerk to cializing in investment prop- of a 25-mem- Newly elected members 11 years of experience in prac- Sidney B. Brooks, retired U.S. erty sales and landlord and ber executive of the board of directors are: tice, which Bankruptcy judge for the Dis- occupier representation for committee Metro Director Travis Boone, included a trict of Colorado. retail and office properties. until June 30, PE, AECOM; West Director period serv- She brings more than 12 2019. Jonathan Kelly, PE, Wright ing the U.S. Ryan Schmidt transferred years of experience in the Tracy Huggins At DURA, Water Engineers Inc.; South Department to PCL Construction’s Denver shopping center industry, with Huggins directs the agency’s Director Jeff Kobriger, PE, of Housing office from the Calgary, Alber- expertise in lease negotiations, involvement in redevelop- HCDA Engineering Inc.; and Urban ta, Canada, office to serve as site selection and asset dispo- ment with combined DURA Metro Director Brant Lahnert, Develop- operations manager. sitions. financing of close to $643 PE, The RMH Group Inc.; and ment, where In this role, he oversees all Prior to joining the company, Wayne Thomp- million, leveraging $7 billion North Director Elizabeth Cypers she provided district construction opera- Moran was in private investment. She son, PE, CTL|Thompson. advice for tions, ensuring projects are a regional also manages DURA’s hous- Board members continuing and handled the closings of successful for clients and trade director of ing rehabilitation programs, their service are David DiFul- Federal Housing Administra- partners. a shopping which the authority admin- vio, PLS, Farnsworth Group tion insured transactions for Schmidt joined the firm in center port- isters for the city’s Office of Inc., William Green, PE, The multifamily projects, hospi- 1997 as a project engineer and folio total- Economic Development. RMH Group Inc., and Greg tals, and assisted living facili- in 2013 was ing 3 million Since joining DURA in Octo- Roush, PE, Leonard Rice Engi- ties. She also provided advice promoted square feet ber 1992, Huggins has over- neers Inc. regarding FHA Single Family to construc- across the seen the agency’s financial Insured Mortgage programs, tion manager Melissa Moran West and involvement in significant Michelle Huey joined D.L. procurement/government overseeing Midwest redevelopments, including Adams Associates as acousti- contracting and Freedom of the $300 mil- regions for Bayer Properties. the 9th and Colorado project, cal consultant in the Denver Information Act requests. lion Calgary She is a Certified Shopping St. Anthony Hospital (Sloans) office. Cypers received her Bach- City Center Center Manager with the and REI Denver flagship store. Huey is a graduate from the elor of Arts degree from office tower. International Council of Shop- Huggins is a certified public University of Kansas a with Emory University, majoring Ryan Schmidt Schmidt ping Centers, a Certified Prop- www.crej.com August 2-15, 2017 - Page 41 Who’s News erty Manager candidate with The firm also welcomed the firm in the role of global a profound difference in the of Colorado Denver. the Institute of Real Estate three new team members: higher education leader. He involvement and number of Management and a Certified Architect Patrick Ward, AIA, will collaborate with design YEA members. Brynne Gant joined Otis, Commercial Investment Mem- NCARB, LEED AP BD+C, and and planning experts to grow Moser has eight years of Bedingfield & Peters LLC as a ber candidate with the CCIM Architectural Interns Dane the firm’s higher education AEC industry experience, litigation associate. Institute. Steil and Luke Feng. practice. including six years of expe- Gant graduated magna cum Moran received a Master of Ward received his Bachelor rience designing mechanical laude from Brigham Young Science degree in technical of Science Erica Moser, PE, a mechani- building systems for highly University communication from Colora- in envi- cal engineer at RMG Group, is technical aerospace manufac- and earned do State University in addi- ronmental a 2017 recipient of the Ameri- turing, industrial and data her Juris Doc- tion to a Bachelor of Arts in design and can Society of Heating, center projects. tor from the J. communication and business Bachelor of Refrigerating and Air-Condi- Reuben Clark from DePaul University in Architecture tioning Engineers National Adan Ramos joined CSHQA Law School Chicago. from Ball Young Engineers in ASHRAE as an architect-in-training at Brigham State Univer- Award of intern in the Colorado region- Young. Iris Foster joined Fitzmar- sity and has Individual al office. Before law tin Consulting as director Patrick Ward 10 years of Excellence. He will school, Gant Brynne Gant special projects, providing professional The YEA assist the worked for a project and construction man- experience. Award of firm with a firm specializing in family and agement services for office, He also been Individual variety of criminal law along with real retail/restaurant, industrial an execu- Excellence is commercial estate and business law. and multifamily properties in tive chef and only given and retail Gant comes to the firm after North America to include ten- an outdoor to individu- projects. a fellowship with the Jeffer- ant improvements, ground-up leadership Erica Moser als who have Ramos is son County District Attorney’s construction, site entitlements instructor. promoted pursuing his Office-Appeals Division and as well as commercial real Steil and participated in YEA at Bachelor of after working over 3½ years for Adan Ramos estate consulting in leasing, received his the chapter, regional and/or Science in the Weld County District Attor- asset management and project Dane Steil Bachelor of society level and have made architecture at the University ney’s Office. budgeting. Architecture Foster has more than 25 from the years’ commercial real estate University of experience specializing in Oklahoma. project and construction man- Feng agement, asset management, earned his Zisler workouts, property manage- Master of Continued from Page 38 better alignment of interests equity. Mezzanine finance can ment, acquisitions, disposi- Architecture among the participants; its help equity-constrained, capi- tions, financial analysis, due and minor include the limited life of negotiation often reflects the tal-rationed owners who take diligence and leasing. in business mezzanine finance; it is more relative strengths of the bor- advantage of more opportuni- Foster is a graduate of the Luke Feng from the expensive than debt but cheap- rower and creditors. ties, moderate their net expo- University of Denver Daniels University of er than equity. We believe Today, the real estate market sure, maintain sole control and School of Business, where she Kansas and spent a semester that in today’s market, the is in a mature phase and, while remain the sole beneficiary of completed a Master of Real at the company while com- risk-adjusted return of mez- we are not forecasting a down- potential appreciation. Trans- Estate and Construction Man- pleting his master’s degree. zanine finance may be higher turn, we do believe that taking actions volume remains high. agement and served as adjunct than equitylike risk-adjusted some risk off the table and allo- Investors can invest in very Ashley C. Overton faculty in the Burns School joined returns. cating more capital to mezza- large transactions or portfo- The Colorado Group. of Real Estate and Construc- An important consideration nine finance may be appropri- lios of smaller transactions. tion Management for 11 years. Overton brings 15 years of is the inter-creditor agreement, ate for investors. Doing so may Mezzanine finance helps She has a bachelor’s degree experience in which introduces another provide a risk-adjusted return investors accomplish these in business administration commercial complication and provides for that is superior to leveraged goals. from the University of Colo- real estate, rado. During her career, Fos- specializing ter earned CCIM, CPM and in the sale Real Property Administrator and leas- professional designations and ing of office holds an American Bar Asso- and indus- ciation-approved paralegal trial assets certificate. Ashley C. Overton throughout the Denver RTA Architects added three metro region, to the firm. new team members as well New hires? as recognized that Sheva Design firm DLR Group Willoughby, AIA, passed all added 14 new design profes- seven divisions of the Archi- sionals to its Denver office. tect Registration Examination Joining the Denver office are: and earned the title of archi- Patrick Beaton, architecture; tect. Neal Bohnen, PE, structural; Michael Clark, RA, Promotions? Willoughby joined the firm architec- in 2010 and ture; Natalie Hill, interiors; has a wide Adam Kezziah, architecture; variety of Alexandra Marschman, inte- experience, riors; Carmen Mazzant, PE, including electrical; Poojitha Ramalin- gachar, Associate AIA, Employee Awards? education, archi- commercial, tecture; Madeline Sapyta, medical and interiors; Jeannie States, tourism facil- administrative; Benjamin ity design Strain, AIA, architecture; Tra- Let the commercial real estate community know about news within your Sheva Willoughby as well as vis Taullie, LEED AP BD+C, company by submitting information to historic preservation. She electrical; Tiffany Vieth, AIA, received her Master of Archi- architecture; and Kyle Yard- Colorado Real Estate Journal’s Who’s News section. tecture and Bachelor of Envi- ley, AIA, architecture. ronmental Design degrees The Colorado Springs office Send submissions and photos to Jennifer Hayes at [email protected]. from the University of Colora- also added David Riggs, AIA, do and currently serves as the architecture, and Samuel Wil- emerging professionals liaison liams, Associate AIA, archi- for the American Institute of tecture. Architects Colorado South Additionally, the firm Section having previously announced that Stuart served as outreach director. Rothenberger, AIA, joined Page 42 - August 2-15, 2017 www.crej.com

COMMUNITY CALENDAR

JULY 26 SEPTEMBER 13-15 OCTOBER 19 – morning Apartment Association of Metro Denver EDC Colorado Real Estate Journal Metro Denver Summer Metro Denver Site Selection Fall Multifamily Development & Economic Conference Conference Investment Conference & Expo Marriott DTC Seawell Grand Ballroom, DCPA Hyatt Regency Aurora-Denver www.aamdhq.org www.metrodenver.org/news/events/ Conference Center www.crej.com/events

AUGUST 8 SEPTEMBER 19 – morning Denver Metro Chamber of Colorado Real Estate Journal NOVEMBER 2 Commerce State of the City Office Summit & Expo NAIOP Luncheon Hyatt Regency Aurora-Denver Fight Night Hyatt Regency Denver at the Conference Center Infinity Park Event Center, Glendale Colorado Convention Center www.crej.com/events www.naiop-colorado.org/FightNight https://denverchamber.org/events/ calendar/ SEPTEMBER 19 – afternoon NOVEMBER 2-3 Colorado Real Estate Journal USGBC Colorado AUGUST 9-11 Industrial Summit & Expo Green Schools Summit Colorado Mortgage Lenders Hyatt Regency Aurora-Denver Arvada Center for the Arts and Association 44th Annual CMLA Conference Center Humanities Vail Convention www.crej.com/events www.usgbc.org/event/green-schools- Vail Marriott Mountain Resort summit-2017 www.cmla.com/convention SEPTEMBER 21-23 AIA Colorado NOVEMBER 7-8 AUGUST 15 Practice & Design Conference COSEIA USGBC Colorado Keystone Conference Center Clean Energy Means Business Commercial Real Estate www.aiacolorado.org/happenings Corporate Summit Initiative Forum History Colorado Center, Denver CSU Denver Center www.coseia.org/cemb/ www.usgbc.org/usgbc-colorado OCTOBER 2-4 Economic Development Council of Colorado NOVEMBER 9 AUGUST 16 Drive | Lead | Succeed Conference RMSCA NAIOP Vail Marriott Mountain Resort The RMSCAs 5th Annual Star NAIOP 4th Annual Winter www.edcconline.org Awards Classic Hockey Curtis Ballroom, Greenwood Village Tournament Fundraiser http://www.rmsca.net/ The Ice Ranch, Littleton OCTOBER 4 event-2613903/Registration http://www.naiop-colorado.org/ CREW Denver Events Women of Influence Awards Luncheon NOVEMBER 30 Grand Hyatt Downtown Denver BOMA Denver AUGUST 17 www.credenver.org TOBY Awards ULI Colorado Seawell Grand Ballroom, DCPA Food and Real Estate Forum www.bomadenver.org/events McNichols Building, OCTOBER 5 Civic Center Park NAIOP www.colorado.uli.org/events Property Tour: Southeast Suburban Denver Colorado Station Southeast Community Calendar is reserved AUGUST 17 to Lincoln Station exclusively for associations, economic IIDA Rocky Mountain Chapter www.naiop-colorado.org development councils and academic RockCon Post-Neocon Expo & programs that participate in CREJ’s Conference Industry Directory. If you would like OCTOBER 11–13 EXDO, 1399 35th Street, Denver your events included in the Community www.iidarmc.org Housing Colorado Housing Colorado NOW! Calendar, please contact Jolene Annual Conference Wollett at 303-623-1148 ext. 110 Vail Marriott Mountain Resort or [email protected]. www.housingcolorado.org www.crej.com August 2-15, 2017 - Page 43

Certified Commercial Investment Members, or CCIMs, are accomplished professionals who provide advanced training and market expertise to give Distinguish Yourself. you a skilled analysis of your opportunities, whether you own, lease or invest in commercial real estate. CCIMs are backed by an exceptional education in investment, real estate and a thorough understanding of their marketplace. Discover why only 5 percent of all commercial real estate Hire a CCIM professionals hold the elite CCIM designation.

Barry B. Bounds, CCIM, Gail Hamilton, CCIM Gail L. Mead, CCIM, CIPS Karen Setterfield, M.S. and MBA Commercial Advisors, LLC Colorado Commercial Real Estate Professionals CCIM, CNE, MBA 200 W. Plaza Drive, Suite 200 8024 W. Kentucky Ave. 457 E. Hopkins Avenue Highlands Ranch, CO 80129 Lakewood, CO 80226 1600 Broadway, Suite 1600 Denver, CO 80202 Aspen, CO 81611 720-221-1820 303-777-2007 Investment sales and retail leasing brokerage, leasing, investment [email protected] 303-933-0744 analysis Brokerage, sales & leasing, office, [email protected] retail, industrial and investments Brokerage, Sales & Leasing, Receivership Services

Tony Hemminger, J. Virginia Messick, Daniel V. Sheehan, CCIM MAI, CCIM, SR/WA Senior Vice President Mark Bradley, CCIM, EMS MessickBowes Commerce Bank CCIM, SIOR Western Investor Network, LLC 1020 15th Street #38E 216 16th Street, Suite 1400 6801 S. Emporia Street, Ste 201 Denver, CO 80202 Denver, CO 80202 Realtec Commercial Real Greenwood Village, CO Estate Services – Greeley Office 303-623-4908 303-214-5415 1711 61st Avenue, Suite 104 80112 [email protected] [email protected] Greeley, CO 80634 720-344-1174 Valuation Specializing in construction & 970-346-9900 [email protected] term financing for all types of [email protected] Brokerage, leasing, consulting, commercial real estate. Brokerage, leasing, investment investment analysis, 1031 exchanges, office, retail, industrial analysis Daniel A. Molello, Brian C. Smith, CCIM CCIM, CPM Marcus & Millichap William M. James, Jones-Healy, Inc. 1225 17th Street, Suite 1800 MAI, CCIM 119 W. 6th St. Denver, CO 80202 Brad Cohen James Real Estate Services Pueblo, CO 81003 303-328-2021 Managing Director 90 Madison St., Suite # 403 719-545-8181 [email protected] Transwestern Denver, CO 80206 [email protected] Specializing in investment sales. 4643 S. Ulster Street, Suite 300 303-388-1100 Brokerage, sales & leasing, Brian has expertise ranging Denver, CO 80237 Valuation & investment office, retail & industrial across all investment product 303-407-1470 types. [email protected] analysis Brokerage, investment analysis, consulting, valuation Steve W. Moyer, CCIM Barry Tiggemann, CCIM, Landmark Western II 7537 S. Ivanhoe Circle CHO, CIPS, CRS Edwin Kanemoto, CCIM Seven Star Real Estate LLC Centennial, CO 80112 1257 S Kingston Court RE/MAX Traditions 303-221-8494 Commercial Division Aurora, CO 80012 Investment sales, retail leasing, 720-400-0808 R. Scott deLuise, CCIM 2204 18th Avenue site selection [email protected] Adjusters International Matrix Longmont, CO 80501 Brokerage, valuation, investment Business Consulting, Inc. 720-583-3930 analysis, development 340 E. First Avenue, Suite 300 Brokerage, leasing, investment Broomfield, CO 80020 303-710-5005 R.C. Myles, CCIM, SIOR [email protected] Cushman & Wakefield of Jim Vetting, CCIM, GRI [email protected] Wheeler Management Consulting Colorado 1515 Arapahoe Street, Suite 1200 Group, Inc. Ken Kanemoto, CCIM 1130 38th Avenue, Suite B RE/MAX Traditions Denver, CO 80202 303-312-4226 Greeley, CO 80634 Commercial Division 970-352-5860 2204 18th Avenue [email protected] Specializing in investment sales. [email protected] Longmont, CO 80501 Brokerage, leasing, consulting, D. English, CCIM, 720-583-3930 R.C. is one of the top investment brokers in the Rocky Mountain region. investment analysis, valuation, CIPS, MPH Brokerage, leasing, investment site selection Real Estate Partners analysis, valuation 4610 S. Ulster Street, Suite 150 Denver, CO 80237 Darren Nakos, CCIM 303-680-3344 Landmark Real Estate Group Todd Walsh, CCIM BOOM Properties [email protected] P.O. Box 630 840 Pearl Street Brokerage, Leasing, Investment William Lawrence, CCIM Frisco, CO 80443-0630 Boulder, CO 80302 Analysis, Health Care Transwestern 970-668-1430 303-444-5040 Consultation 4643 S. Ulster Street, Suite 300 [email protected] [email protected] Denver, CO 80237 investment analysis, consulting, 303-639-3000 financing, development Commercial Leasing & Sales, [email protected] Investment Properties, Boulder Phill Foster Development services County Specialist Phill Foster and Company 8811 E. Hampden Avenue, Suite 104 John V. Propp, CCIM Patricia M. Wassik, Denver, CO 80231-4931 John Propp Commercial 303-399-9422 Group CCIM, CPM [email protected] Mark Lee Levine, CCIM 6565 S. Dayton Street, Suite Health Connect Properties Brokerage University of Denver 3000 3400 E. Bayaud Avenue, Suite 240 2101 S. University Blvd. Suite 387 Greenwood Village, CO 80111 Denver, CO 80209 Denver, CO 80208 303-692-1816 303-830-1444 303-871-2142 Investments, 1031 exchanges, Health care leasing, sales, manage- Director of The Burns School professional property management, ment, consulting, investment analysis receivership services and construction management Jan Friedlander, CCIM Friedlander Commercial Real Estate, LLC Bob Rizzuto, MBA, Russ Wehner, CCIM, 30 Albion Place CCIM, CBI MAI, CPM Castle Rock, CO 80108 David K. Martin, CCIM Martin Company KW Commercial Real Estate, Russ Wehner Realty Co. 303-885-9200 LLC 280 S. Madison St. [email protected] 9306 E. Berry Avenue, Suite 100 Greenwood Village, CO 80111 200 West Plaza Drive, Suite 200 Denver, CO 80209 Site selection, brokerage, invest- Highlands Ranch, CO 80129 303-393-7653 ment, health care 303-850-0505 [email protected] 303-809-1757 Brokerage, property manage- Brokerage, leasing, investment [email protected] ment, consulting, investment analysis Investment analysis, brokerage, analysis leasing, consulting & business brokerage Tracy Wilkes, CCIM, Jeff Hale, CCIM, CPM Don Rulle, CCIM Hale Commercial Properties Rebecca B. Martin, CPM 604 Remington Street, Studio 7 CCIM, MBA CCIM, CRB, CNE, GRI Castle Keep Developments Fort Collins, CO 80524 RBM Real Estate Solutions ePRO eCertified 7927 S. Kittredge Street 970-310-9435 1120 Lincoln Street, Suite 710 Re/Max Traditions Commercial Englewood, CO 80112-4642 [email protected] Denver, CO 80203 2204 18th Avenue 303-991-1143 Serving Northern Colorado sales 303-455-0600 ext. 1 Longmont, CO 80501 Site selection, development, & leasing, investment analysis, [email protected] 303-772-3800 ext. 110 brokerage, investment analysis, multifamily, mixed-use and Retail brokerage, investment [email protected] non-resident owner rep adaptive reuse. analysis, professional property Site selection, development, brokerage, management. leasing, valuation, investment analysis

If you are a CCIM Jake Hallauer Brian McDonald, CCIM, Eric B. Rutherford, member and would Chrisland Real Estate MBA, CCIM, GREEN Companies MS-RECM First American Title Insurance Wright Kingdom like to appear in 970-305-8113 1125 17th Street, Suite 750 4875 Pearl East Circle this directory, Specializing in brokerage, Denver, CO 80202 Boulder, CO 80301 development, investment analysis, 303-876-1141 please contact consulting, leasing and site selection. 303-541-1908 [email protected] [email protected] Lori Golightly Colorado & National commer- Commercial/Investment Broker cial title & escrow services. at 303.623.1148. Page 44 - August 2-15, 2017 www.crej.com

Alliance Residential Company Matrix Design Group JE Dunn Construction Co. MISCELLANEOUS ConAm Colorado AMLI Residential MDP Engineering Jean Sebben Associates (subcategories available) Corum Real Estate Group ARES Aardex Real Estate Services M-E Engineers Jordy Construction ADI Workplace Acoustics Cushman & Wakefield of Colorado Ascendant Development M.E. Group Kiewit Jim Yost Photography Dean Callan & Company Beck Group MEP Engineering MKK Consulting Engineers Margenau Associates Dorman Real Estate Services Brookfield Properties Merrick & Company Mortenson Construction Sky to Ground DPC Development Company Bush Development MKK Consulting Engineers NAI Highland Streetscapes Drake Real Estate Services Central Development Monroe & Newell Engineers RK Mechanical Dunmire Properties Chrisland Shaffer-Baucom Engineering Saunders Construction MULTIFAMILY RESOURCE Dunton Commercial Real Estate Church Ranch Schlosser Signs (subcategories available) Echelon Property Group Craddock Commercial ENVIRONMENTAL Shaffer-Baucom Engineering A-1 Chipseal/Rocky Mountain Equity Office Properties David J. Erb (subcategories available) Taylor Kohrs Pavement Maintenance First Properties Development Advisors Eagle Environmental Consulting TPS – Tenant Planning Services Advanced Exercise Equipment Fleisher Smyth Brokaw DPC Development Company ERO Resources Alliance Residential Co. Forest City Commercial Drake Real Estate Services Kumar & Associates HOTEL RESOURCE Apartment Appraisers & Greystar Real Estate Partners Edgemark Development National Inspection Services (subcategories available) Consultants Griffis/Blessing, Inc. Equity West Rainbow International Arthur J. Gallagher ARA, a Newmark Company Investors Properties Etkin Johnson Real Estate Sound Earth Strategies Hospitality Real Estate Avery Asphalt J&B Building Partners Counselors Beartrax Construction JLL A Who’s Who of the Leading Players in the Colorado Evergreen Real Estate ENVIRONMENTAL Hospitality Specialists Belfor John McShane Company Everwest Commercial Partners GRAPHIC DESIGN HotelBrokerOne BluSKY Restoration The Laramie Company Commercial Real Estate Community First Industrial Realty Trust ArtHouse Denver Providence Hospitality Partners Catamount Constructors LCP Property Management First Properties Chase Commercial Term Lending Lincoln Property Company Fleisher Smyth Brokaw GEOTECHNICAL/ INFO/DATA PROVIDERS Coatings, Inc. MC Commercial Real Estate The directory contains company name, website link, contact name(s), address, phone number Forest City Stapleton CONSTRUCTION Information Advantage CoCal Landscape Metrex Property Group GDA Real Estate MATERIALS TESTING SKLD ConAm Colorado Mountain West Industrial and email address of more than 1,000 Colorado commercial real estate professionals. Granite Properties Cesare, Inc. ECC Properties Hines CTL Thompson INSURANCE Echelon Property Group Newmark Grubb Knight Frank IBC Holdings Ground Engineering Arthur J. Gallagher Foothills Paving & Maintenance Panorama Property Management An indispensable tool for industry professionals… the only resource directory you’ll ever need. J&B Building Kumar & Associates Insurance Design & Placement Godden/Sudik Architects Prime West Development Jordon Perlumutter RMG – Rocky Mountain Group Keller-Lowry Insurance Griffis/Blessing Riverstone Residential Group KBS Realty Advisors Wright Group/Pells Insurance Group14 Engineering Sessions Group 1031 EXCHANGE BURKETTeua Fuller Real Estate CMI Mechanical CONSULTANTS & ADVISORS Kelmore Development GREEN BUILDING Interstate Restoration Simpson Property Group PROFESSIONALS Coover-Clark & Associates Gibbons/White CoCal Landscape Services (subcategories available) KEW Realty (subcategories available) INTERIOR DESIGNERS JOHNSON NATHAN STROHE St. Charles Town Company 1031 Corporation Davis Partnership Architects Goldberg Properties CollectiveView Economic & Planning Systems LBA Realty The Abo Group Acquilano Leslie JHL Constructors Transwestern 1031 Exchange Experts DLR Group Guidance Corporate Realty Colorado Security Services Newmark Grubb Knight Frank LC Fulenwider Acquilano Leslie Barber Architecture Keller-Lowry Insurance Unico Properties, LLC Land Title Guarantee EJ Architecture Advisors Cooling Tower Services THK Associates Lincoln Property Company Adolfson & Peterson BGL – Bechta Group Ltd. Landtech Urban, Inc. Fentress Architects Health Connect Properties Corey Electrical Livingston Real Estate Ambient Energy Box Studio Landscape/Maintenance Vector Property Services ACADEMIC PROGRAMS Foothills Commercial Builders HotelBrokerOne Cowboy Moving & Storage CONTRACTORS Lowe Enterprises Architectural Energy BURKETTeua Marcus & Millichap WestStar Commercial Colorado State University Everitt Gensler HREC CRW (subcategories available) Majestic Realty Company ARES Aardex Real Estate Services Davis Partnership Architects Martines/Palmeiro Construction Wheelhouse Apartments Real Estate Center gkkworks Interurban Corp. D&D Roofing Adolfson & Peterson Matrix Group Bryan Construction Davis Wince, Ltd. National Credit Systems WW Reynolds Company University of Colorado Godden/Sudik Architects J&B Realty Davey Tree Alliance Construction Solutions McWhinney Catamount Constructors DLR Group Palace Construction Co. University of Denver Grey Wolf Studio JLL Denver Sign Group AMA Construction MIE Properties Coover-Clark Elsy Studios Perfect Patch Asphalt PROPERTY TAX Hord Coplan Macht Keys Commercial Douglass Colony Group The Beck Group Mill Creek Residential Trust Corey Electrical Engineering Gensler Power Apartment Leasing & 1st Net Real Estate Services ACCOUNTANTS Humphries Poli Architects Lee & Associates E Light Electrical Service Boots Construction Miller Global Earthly Ideas Grey Wolf Studio Management Commercial Assessment Appeal (subcategories available) IA - Interior Architects Lincoln Property Company Economy Asphalt & Paving Brinkmann Constructors Miller Real Estate Investments Fentress Architects Jean Sebben Associates Shaw Construction Consultus Asset Valuation Anton Collins Mitchell Intergroup Architects Marcus & Millichap Empire Building Maintenance Bryan Construction Mortenson Development Gensler jigsaw Design Sherwin Williams Downey & Associates BKD JOHNSON NATHAN STROHE Martin Company Englewood Lock and Safe BVB General Contractors Mountain West Industrial Group14 Engineering Keeney Design Split Rail Fence Co. Duff & Phelps Causey Demgen & Moore KEPHART Michael Bloom & Company Facilities Contracting Calcon Construction Properties Heartland Acoustics Kieding Office Architects Stewart Title Greenberg Traurig CBIZ LAI Design Group Moran & Company Fire Alarm Services Catamount Constructors NewMark Merrill Mountain States Intermountain Electric Kimberly Timmons Interiors Streetscapes Holland & Hart EKS&H Lantz-Boggio Architects NAI Highland Fluorescent Maintenance Centerre Construction NexCore JE Dunn Construction Co. OZ Architecture Taylor Kohrs KE Andrews Eide Bailly MOA Architecture NavPoint Real Estate Group Foothills Paving & Maintenance dcb Construction The Nichols Partnership Kiewit Planning Solutions TCF Bank Licht & Company GHP Horwath O’Bryan Partnership Newmark Grubb Knight Frank Graebel Denver Movers Facilities Contracting Northstar Commercial Partners KL&A RNL Tecta America Marvin F. Poer & Company Hein & Company OZ Architecture Pinnacle Real Estate Advisors Greiner Electric FCI Constructors The Opus Group Lincoln Property Co. TPS – Tenant Planning Solutions Western Roofing Meissner Associates PwC Page/ Prudential CRES Commercial Real GroundMasters/Snow Foothills Commercial Builders Panattoni Development Martin/Martin Consulting Venture Architecture Messner and Reeves Smith Brooks Bolshoun RNL Estate Management Services Fransen Pittman Construction Co. Peregrine Group Engineers OFFICE FURNITURE Property Tax Associates Roth Sheppard Architects Quantum Commercial Heartland Acoustics & Interiors GE Johnson Construction Co. Plante Properties M-E Engineers LAND PLANNING / Canter & Associates R.H. Jacobson & Company AD/PR/BRANDING Rowland + Broughton Realtec Horizon Glass GH Phipps Construction Prime West Development M.E. Group LANDSCAPE ARCHITECTS Contract Furnishings Ryan, LLC Aimee Miller Marketing Architecture Savills Studley Horizon Property Services Companies ProLogis MKK Consulting Engineers (subcategories available) Corporate Environments Spencer Fain ArtHouse Design TreanorHL Sperry Properties IES Commercial Golden Triangle Construction Real Capital Solutions Mortenson Construction Consilium Design ELEMENTS Stevens & Associates Barefoot Public Relations Tryba Architects SRS Real Estate Partners Integrated Resource Services Haselden Construction RedPeak Properties Norris Design Davis Partnership Architects Everything for Offices Sullivan Valuation Services BRANDiac Strategies Van Meter Williams Pollack SullivanHayes Brokerage Intermountain Electric Himmelman Construction Regency Centers NV5 LAI Design Group Haworth The E Company Cohn Marketing Venture Architecture Tebo Development Interstate Restoration HITT Contracting Rothenberg Rosenfield PCD Engineering Norris Design Jordy/Carter Furnishings Communication Associates The Laramie Company ISS Facility Services Howell Construction The Schuck Corporation RK Mechanical Plan West OfficeScapes SURVEYING Creatively Affordable Marketing ART CONSULTANTS Transwestern Jani-King of Colorado Hyder Construction ServiceStar Development Co. RNL Stanley Consultants Source Four Accurate EngiSurv DeWinter Communications Hilary DePolo Trevey Land & Commercial Landtech JE Dunn Construction Co. Shea Commercial Saunders Construction StudioINSITE Teammates Commercial Interiors Dovetail Solutions Unique Properties Landscape/Maintenance JHL Constructors St. Charles Town Company Tolin Mechanical Workplace Resource TENANT FINISH Layer Cake Creative BROKERS Vector Property Services MAI Mechanical Jordy Construction Steelwave LLC Tryba Architects LAWYERS Axia Construction Group Marketing Evolutions (subcategories available) WalderaScott Real Estate Martinson Snow Removal Kiewit Stonebridge Companies Turner Construction Co. (subcategories available) PROJECT MANAGEMENT Black Peak Construction Pure Brand AmCap Western Centers Mathias Lock & Key Krische Construction Tebo Development Van Meter Williams Pollack Ballard Spahr Catalyst Planning Group EJCM Construction Management Quattro Communications Antonoff & Company WestStar Commercial MC Commercial Services Martines / Palmeiro Construction Trammell Crow Residential The Weidt Group Brownstein Hyatt Farber Schreck CBRE Facilities Contracting Schechter Public Relations ARA, a Newmark Company WW Reynolds Mountain High Tree Maxwell Builders Transwestern Bryan Cave Centerpoint Integrated Solutions Foothills Commercial Builders Steidley Design Areté Commercial Mountain Parking Equipment Mortenson Construction Triumph Real Estate HEALTHCARE AND MEDICAL Burns Figa & Will Dunakilly Management Group HITT Contracting Suter Media Relations AXIO Commercial Real Estate BUILDING OPERATING Palace Construction Mosaic Construction Group United Properties OFFICE BUILDINGS Davis & Ceriani Facilities Contracting Howell Construction Thayer Media Binswanger SERVICES & SUPPLIERS Pest Express MW Golden Urban Villages (subcategories available) Davis Graham & Stubbs Fitzmartin Consulting InWard Charles Construction ULI Creative Bray & Company (subcategories available) PLM Asphalt & Concrete The Neenan Company Weingarten Realty Adolfson & Peterson Fairfield & Woods Sundance Project Management Jordy Construction BRC Real Estate A-1 Chipseal/Rocky Mountain Ponderosa Painting Palace Construction Co. Westcore Properties Alliance Construction Solutions Frascona Joiner & Goodman Kennerly Construction APPRAISERS Broad Street Pavement Maintenance Preferred Painting Panatonni Construction Westfield Companies BCER Engineering Greenberg Traurig PROPERTY CONDITION Martines/Palmeiro Construction Apartment Appraisers & Cascade Commercial Group Advantage Security Real Estate Personnel PCL Construction Services WW Reynolds Companies The Beck Group Hogan & Lovells US ASSESSMENT MAX Construction Consultants Case Commercial Real Estate Advantage Sign Reidy Metal Services Pinkard Construction Co. Zeppelin Development BRC Real Estate Holland & Hart Fred Thrall LLC Provident Construction Bowes and Company CBRE Apex Pavement Solutions Schlosser Signs Provident Construction Co. BVB General Contractors Husch Blackwell Sbarra Construction West, Inc. Burd & Mitchell Colliers International Asphalt Coatings Schultz Industries Roche Constructors EMPLOYMENT STAFFING Cascade Commercial Group McGeady & Becher PROPERTY MANAGERS Scheiner Commercial Group, Inc. CBRE Colorado Commercial Companies Avery Asphalt SiteSource Saunders Construction Co. J Kent Staffing Catamount Constructors Messner Reeves LLP (subcategories available) Swinerton Builders Colliers International Valuation & Colorado Group B&M Roofing of Colorado Split Rail Fence Company Shaw Construction Real Estate Personnel CBRE Moye White Alliance Residential Company Advisory Corum Real Estate Group Backflow Consulting, Testing & Stellar Painting Swinerton Builders Development Solutions Group Otten Johnson Robinson Neff & AmCap TITLE INSURANCE Commercial Valuation CRESA Denver Repair Swingle Tree, Lawn & Landscape Taylor Kohrs ENGINEERS Facilities Contracting Ragonetti ARES Aardex Real Estate Services Fidelity National Title Consultants Crosbie Real Estate Group Bauen Corporation Care Tower One Construction (subcategories available) Fleisher Smyth Brokaw Packard & Dierking Baron Property Services Land Title Guarantee EJ Frank Appraisals Cushman & Wakefield of Colorado Belfor Tolin Mechanical Turner Construction Co. 68West, Inc. Fransen Pittman Construction Snell & Wilmer BRC Real Estate North American Title Foster Valuation Company David Hicks Lampert Black Box Network Services Top Gun Pressure Washing W.E. O’Neil Construction Company Baseline Engineering Friedlander Commercial Real Spencer Fain CBRE Stewart Title National Valuation Consultants Dean Callan & Company Black Gold Construction Turner Morris Roof Systems of Colorado Centerpoint Integrated Solutions Estate Centennial Realty Advisors Tromly Appraisals Dunton Commercial Real Estate BluSKY Restoration Universal Protection Service Weitz Construction Kimley-Horn & Associates GE Johnson Construction Co. Central Colorado Management WestTerra Co. Bob Popp Building Services WeatherSure Inc. White Construction Group Martin/Martin Health Connect Properties Colliers International EGG Commercial Real Estate Bodis Group Western Roofing ARCHITECTS Excell Fund Brickman Group Western States Fire Protection DEVELOPERS/INVESTORS/ (subcategories available) First Properties Brown Brothers Contracting Wire to Wire BUILD-TO-SUIT Acquilano Leslie Friedlander Commercial Real Buehler Companies YESCO (subcategories available) Barber Architecture Estate CAM Services Alberta Development The Beck Group Front Range Commercial City Plantscaping Alliance Commercial Partners www.crej.com August 2-15, 2017 - Page 45

Alliance Residential Company Matrix Design Group JE Dunn Construction Co. MISCELLANEOUS ConAm Colorado AMLI Residential MDP Engineering Jean Sebben Associates (subcategories available) Corum Real Estate Group ARES Aardex Real Estate Services M-E Engineers Jordy Construction ADI Workplace Acoustics Cushman & Wakefield of Colorado Ascendant Development M.E. Group Kiewit Jim Yost Photography Dean Callan & Company Beck Group MEP Engineering MKK Consulting Engineers Margenau Associates Dorman Real Estate Services Brookfield Properties Merrick & Company Mortenson Construction Sky to Ground DPC Development Company Bush Development MKK Consulting Engineers NAI Highland Streetscapes Drake Real Estate Services Central Development Monroe & Newell Engineers RK Mechanical Dunmire Properties Chrisland Shaffer-Baucom Engineering Saunders Construction MULTIFAMILY RESOURCE Dunton Commercial Real Estate Church Ranch Schlosser Signs (subcategories available) Echelon Property Group Craddock Commercial ENVIRONMENTAL Shaffer-Baucom Engineering A-1 Chipseal/Rocky Mountain Equity Office Properties David J. Erb (subcategories available) Taylor Kohrs Pavement Maintenance First Properties Development Advisors Eagle Environmental Consulting TPS – Tenant Planning Services Advanced Exercise Equipment Fleisher Smyth Brokaw DPC Development Company ERO Resources Alliance Residential Co. Forest City Commercial Drake Real Estate Services Kumar & Associates HOTEL RESOURCE Apartment Appraisers & Greystar Real Estate Partners Edgemark Development National Inspection Services (subcategories available) Consultants Griffis/Blessing, Inc. Equity West Rainbow International Arthur J. Gallagher ARA, a Newmark Company Investors Properties Etkin Johnson Real Estate Sound Earth Strategies Hospitality Real Estate Avery Asphalt J&B Building Partners Counselors Beartrax Construction JLL Evergreen Real Estate ENVIRONMENTAL Hospitality Specialists Belfor John McShane Company Everwest Commercial Partners GRAPHIC DESIGN HotelBrokerOne BluSKY Restoration The Laramie Company First Industrial Realty Trust ArtHouse Denver Providence Hospitality Partners Catamount Constructors LCP Property Management First Properties Chase Commercial Term Lending Lincoln Property Company Fleisher Smyth Brokaw GEOTECHNICAL/ INFO/DATA PROVIDERS Coatings, Inc. MC Commercial Real Estate Forest City Stapleton CONSTRUCTION Information Advantage CoCal Landscape Metrex Property Group GDA Real Estate MATERIALS TESTING SKLD ConAm Colorado Mountain West Industrial Granite Properties Cesare, Inc. ECC Properties Hines CTL Thompson INSURANCE Echelon Property Group Newmark Grubb Knight Frank IBC Holdings Ground Engineering Arthur J. Gallagher Foothills Paving & Maintenance Panorama Property Management J&B Building Kumar & Associates Insurance Design & Placement Godden/Sudik Architects Prime West Development Jordon Perlumutter RMG – Rocky Mountain Group Keller-Lowry Insurance Griffis/Blessing Riverstone Residential Group KBS Realty Advisors Wright Group/Pells Insurance Group14 Engineering Sessions Group 1031 EXCHANGE BURKETTeua Fuller Real Estate CMI Mechanical CONSULTANTS & ADVISORS Kelmore Development GREEN BUILDING Interstate Restoration Simpson Property Group PROFESSIONALS Coover-Clark & Associates Gibbons/White CoCal Landscape Services (subcategories available) KEW Realty (subcategories available) INTERIOR DESIGNERS JOHNSON NATHAN STROHE St. Charles Town Company 1031 Corporation Davis Partnership Architects Goldberg Properties CollectiveView Economic & Planning Systems LBA Realty The Abo Group Acquilano Leslie JHL Constructors Transwestern 1031 Exchange Experts DLR Group Guidance Corporate Realty Colorado Security Services Newmark Grubb Knight Frank LC Fulenwider Acquilano Leslie Barber Architecture Keller-Lowry Insurance Unico Properties, LLC Land Title Guarantee EJ Architecture Advisors Cooling Tower Services THK Associates Lincoln Property Company Adolfson & Peterson BGL – Bechta Group Ltd. Landtech Urban, Inc. Fentress Architects Health Connect Properties Corey Electrical Livingston Real Estate Ambient Energy Box Studio Landscape/Maintenance Vector Property Services ACADEMIC PROGRAMS Foothills Commercial Builders HotelBrokerOne Cowboy Moving & Storage CONTRACTORS Lowe Enterprises Architectural Energy BURKETTeua Marcus & Millichap WestStar Commercial Colorado State University Everitt Gensler HREC CRW (subcategories available) Majestic Realty Company ARES Aardex Real Estate Services Davis Partnership Architects Martines/Palmeiro Construction Wheelhouse Apartments Real Estate Center gkkworks Interurban Corp. D&D Roofing Adolfson & Peterson Matrix Group Bryan Construction Davis Wince, Ltd. National Credit Systems WW Reynolds Company University of Colorado Godden/Sudik Architects J&B Realty Davey Tree Alliance Construction Solutions McWhinney Catamount Constructors DLR Group Palace Construction Co. University of Denver Grey Wolf Studio JLL Denver Sign Group AMA Construction MIE Properties Coover-Clark Elsy Studios Perfect Patch Asphalt PROPERTY TAX Hord Coplan Macht Keys Commercial Douglass Colony Group The Beck Group Mill Creek Residential Trust Corey Electrical Engineering Gensler Power Apartment Leasing & 1st Net Real Estate Services ACCOUNTANTS Humphries Poli Architects Lee & Associates E Light Electrical Service Boots Construction Miller Global Earthly Ideas Grey Wolf Studio Management Commercial Assessment Appeal (subcategories available) IA - Interior Architects Lincoln Property Company Economy Asphalt & Paving Brinkmann Constructors Miller Real Estate Investments Fentress Architects Jean Sebben Associates Shaw Construction Consultus Asset Valuation Anton Collins Mitchell Intergroup Architects Marcus & Millichap Empire Building Maintenance Bryan Construction Mortenson Development Gensler jigsaw Design Sherwin Williams Downey & Associates BKD JOHNSON NATHAN STROHE Martin Company Englewood Lock and Safe BVB General Contractors Mountain West Industrial Group14 Engineering Keeney Design Split Rail Fence Co. Duff & Phelps Causey Demgen & Moore KEPHART Michael Bloom & Company Facilities Contracting Calcon Construction Properties Heartland Acoustics Kieding Office Architects Stewart Title Greenberg Traurig CBIZ LAI Design Group Moran & Company Fire Alarm Services Catamount Constructors NewMark Merrill Mountain States Intermountain Electric Kimberly Timmons Interiors Streetscapes Holland & Hart EKS&H Lantz-Boggio Architects NAI Highland Fluorescent Maintenance Centerre Construction NexCore JE Dunn Construction Co. OZ Architecture Taylor Kohrs KE Andrews Eide Bailly MOA Architecture NavPoint Real Estate Group Foothills Paving & Maintenance dcb Construction The Nichols Partnership Kiewit Planning Solutions TCF Bank Licht & Company GHP Horwath O’Bryan Partnership Newmark Grubb Knight Frank Graebel Denver Movers Facilities Contracting Northstar Commercial Partners KL&A RNL Tecta America Marvin F. Poer & Company Hein & Company OZ Architecture Pinnacle Real Estate Advisors Greiner Electric FCI Constructors The Opus Group Lincoln Property Co. TPS – Tenant Planning Solutions Western Roofing Meissner Associates PwC Page/ Prudential CRES Commercial Real GroundMasters/Snow Foothills Commercial Builders Panattoni Development Martin/Martin Consulting Venture Architecture Messner and Reeves Smith Brooks Bolshoun RNL Estate Management Services Fransen Pittman Construction Co. Peregrine Group Engineers OFFICE FURNITURE Property Tax Associates Roth Sheppard Architects Quantum Commercial Heartland Acoustics & Interiors GE Johnson Construction Co. Plante Properties M-E Engineers LAND PLANNING / Canter & Associates R.H. Jacobson & Company AD/PR/BRANDING Rowland + Broughton Realtec Horizon Glass GH Phipps Construction Prime West Development M.E. Group LANDSCAPE ARCHITECTS Contract Furnishings Ryan, LLC Aimee Miller Marketing Architecture Savills Studley Horizon Property Services Companies ProLogis MKK Consulting Engineers (subcategories available) Corporate Environments Spencer Fain ArtHouse Design TreanorHL Sperry Properties IES Commercial Golden Triangle Construction Real Capital Solutions Mortenson Construction Consilium Design ELEMENTS Stevens & Associates Barefoot Public Relations Tryba Architects SRS Real Estate Partners Integrated Resource Services Haselden Construction RedPeak Properties Norris Design Davis Partnership Architects Everything for Offices Sullivan Valuation Services BRANDiac Strategies Van Meter Williams Pollack SullivanHayes Brokerage Intermountain Electric Himmelman Construction Regency Centers NV5 LAI Design Group Haworth The E Company Cohn Marketing Venture Architecture Tebo Development Interstate Restoration HITT Contracting Rothenberg Rosenfield PCD Engineering Norris Design Jordy/Carter Furnishings Communication Associates The Laramie Company ISS Facility Services Howell Construction The Schuck Corporation RK Mechanical Plan West OfficeScapes SURVEYING Creatively Affordable Marketing ART CONSULTANTS Transwestern Jani-King of Colorado Hyder Construction ServiceStar Development Co. RNL Stanley Consultants Source Four Accurate EngiSurv DeWinter Communications Hilary DePolo Trevey Land & Commercial Landtech JE Dunn Construction Co. Shea Commercial Saunders Construction StudioINSITE Teammates Commercial Interiors Dovetail Solutions Unique Properties Landscape/Maintenance JHL Constructors St. Charles Town Company Tolin Mechanical Workplace Resource TENANT FINISH Layer Cake Creative BROKERS Vector Property Services MAI Mechanical Jordy Construction Steelwave LLC Tryba Architects LAWYERS Axia Construction Group Marketing Evolutions (subcategories available) WalderaScott Real Estate Martinson Snow Removal Kiewit Stonebridge Companies Turner Construction Co. (subcategories available) PROJECT MANAGEMENT Black Peak Construction Pure Brand AmCap Western Centers Mathias Lock & Key Krische Construction Tebo Development Van Meter Williams Pollack Ballard Spahr Catalyst Planning Group EJCM Construction Management Quattro Communications Antonoff & Company WestStar Commercial MC Commercial Services Martines / Palmeiro Construction Trammell Crow Residential The Weidt Group Brownstein Hyatt Farber Schreck CBRE Facilities Contracting Schechter Public Relations ARA, a Newmark Company WW Reynolds Mountain High Tree Maxwell Builders Transwestern Bryan Cave Centerpoint Integrated Solutions Foothills Commercial Builders Steidley Design Areté Commercial Mountain Parking Equipment Mortenson Construction Triumph Real Estate HEALTHCARE AND MEDICAL Burns Figa & Will Dunakilly Management Group HITT Contracting Suter Media Relations AXIO Commercial Real Estate BUILDING OPERATING Palace Construction Mosaic Construction Group United Properties OFFICE BUILDINGS Davis & Ceriani Facilities Contracting Howell Construction Thayer Media Binswanger SERVICES & SUPPLIERS Pest Express MW Golden Urban Villages (subcategories available) Davis Graham & Stubbs Fitzmartin Consulting InWard Charles Construction ULI Creative Bray & Company (subcategories available) PLM Asphalt & Concrete The Neenan Company Weingarten Realty Adolfson & Peterson Fairfield & Woods Sundance Project Management Jordy Construction BRC Real Estate A-1 Chipseal/Rocky Mountain Ponderosa Painting Palace Construction Co. Westcore Properties Alliance Construction Solutions Frascona Joiner & Goodman Kennerly Construction APPRAISERS Broad Street Pavement Maintenance Preferred Painting Panatonni Construction Westfield Companies BCER Engineering Greenberg Traurig PROPERTY CONDITION Martines/Palmeiro Construction Apartment Appraisers & Cascade Commercial Group Advantage Security Real Estate Personnel PCL Construction Services WW Reynolds Companies The Beck Group Hogan & Lovells US ASSESSMENT MAX Construction Consultants Case Commercial Real Estate Advantage Sign Reidy Metal Services Pinkard Construction Co. Zeppelin Development BRC Real Estate Holland & Hart Fred Thrall LLC Provident Construction Bowes and Company CBRE Apex Pavement Solutions Schlosser Signs Provident Construction Co. BVB General Contractors Husch Blackwell Sbarra Construction West, Inc. Burd & Mitchell Colliers International Asphalt Coatings Schultz Industries Roche Constructors EMPLOYMENT STAFFING Cascade Commercial Group McGeady & Becher PROPERTY MANAGERS Scheiner Commercial Group, Inc. CBRE Colorado Commercial Companies Avery Asphalt SiteSource Saunders Construction Co. J Kent Staffing Catamount Constructors Messner Reeves LLP (subcategories available) Swinerton Builders Colliers International Valuation & Colorado Group B&M Roofing of Colorado Split Rail Fence Company Shaw Construction Real Estate Personnel CBRE Moye White Alliance Residential Company Advisory Corum Real Estate Group Backflow Consulting, Testing & Stellar Painting Swinerton Builders Development Solutions Group Otten Johnson Robinson Neff & AmCap TITLE INSURANCE Commercial Valuation CRESA Denver Repair Swingle Tree, Lawn & Landscape Taylor Kohrs ENGINEERS Facilities Contracting Ragonetti ARES Aardex Real Estate Services Fidelity National Title Consultants Crosbie Real Estate Group Bauen Corporation Care Tower One Construction (subcategories available) Fleisher Smyth Brokaw Packard & Dierking Baron Property Services Land Title Guarantee EJ Frank Appraisals Cushman & Wakefield of Colorado Belfor Tolin Mechanical Turner Construction Co. 68West, Inc. Fransen Pittman Construction Snell & Wilmer BRC Real Estate North American Title Foster Valuation Company David Hicks Lampert Black Box Network Services Top Gun Pressure Washing W.E. O’Neil Construction Company Baseline Engineering Friedlander Commercial Real Spencer Fain CBRE Stewart Title National Valuation Consultants Dean Callan & Company Black Gold Construction Turner Morris Roof Systems of Colorado Centerpoint Integrated Solutions Estate Centennial Realty Advisors Tromly Appraisals Dunton Commercial Real Estate BluSKY Restoration Universal Protection Service Weitz Construction Kimley-Horn & Associates GE Johnson Construction Co. Central Colorado Management WestTerra Co. Bob Popp Building Services WeatherSure Inc. White Construction Group Martin/Martin Health Connect Properties Colliers International EGG Commercial Real Estate Bodis Group Western Roofing ARCHITECTS Excell Fund Brickman Group Western States Fire Protection DEVELOPERS/INVESTORS/ (subcategories available) First Properties Brown Brothers Contracting Wire to Wire BUILD-TO-SUIT Acquilano Leslie Friedlander Commercial Real Buehler Companies YESCO (subcategories available) Barber Architecture Estate CAM Services Alberta Development The Beck Group Front Range Commercial City Plantscaping Alliance Commercial Partners Join the directory Participating in this directory provides your firm year-round visibility to our website viewers. The site currently receives approximately 11,500 viewers per month. Prices range from $150-$695 per year, depending on the category and related features. If you have any questions, please contact Lori Golightly at [email protected] or 303-623-1148. Page 46 - August 2-15, 2017 www.crej.com Stapleton Continued from Page 15 The buyer was represented by be popular in the metro market space, the Denver retail market growth into more suburban areas. Curtis Allan of Re/Max Momen- and shows no signs of slowing continues attracting demand, The largest retail sale during n An 11,400-sf retail building tum. down, the report added. showcased by the persistence the quarter was the Village Shops along South Broadway recently A positive net absorption of of new construction, especially at the Landmark in Greenwood traded hands for $1.73 million. n CBRE issued its second- 116,333 sf was recorded in the as the mixed-use format gains Village. The $33.2 million sale Working Capital Investment quarter 2017 report on the Den- second quarter, bringing year-to- momentum,” according to the propped up the quarter’s total LLC purchased the property at ver retail market, in which it date net absorption to a posi- report. sales volume to more than $158 4395 S. Broadway, at Broadway noted that while the market tive 5,262 sf. Store closures that The report also noted: million – a 15.7 percent quarter- and West Quincy Avenue, in had its ups and downs, it sur- affected net absorption during the Average lease rates increased over-quarter increase in sales vol- Denver at a 6.5 percent cap passed many expectations in quarter included Gander Moun- 1.6 percent quarter-over-quarter ume and a 9.3 percent increase in rate. An undisclosed seller sold the face of store closures. tain’s 57,677-sf store in Parker to $18.17 per sf triple net – the the price per sf, the report noted. the retail property built in 1960 The report noted that despite and Gordmans’ vacating of three highest lease rate since the first Total availability is up 10.2 per- and renovated in 2014. the announcements of more stores in the south, west and quarter of 2009. cent and lease rates are starting to Renovations included a new store closures, Denver’s retail northwest submarkets topping More than 371,000 sf of new level out as the market finds an exterior and a new roof. market has been buoyed by more than 181,000 sf. retail space was delivered in equilibrium. Future closings also The five-tenant building fea- strong population and econom- Direct vacancy increased to 6.1 the quarter – nearly a threefold will create additional upward tures a rent roll with a number ic growth, which are helping to percent in the second quarter – increase compared to the last pressure on vacancy and avail- of long-term leases with annu- attract retailers for a variety of the highest level since the first quarter. The growth in Denver’s ability, and lease rates may flatten al increases in place. It was 100 industries, such as entertain- quarter of 2015. Total vacancy also housing stock has begun acceler- if that is the case. percent occupied at the time ment, grocery, fitness and dis- reached its highest point since the ating again in recent quarters and “Finding the balance between of sale. count retailers. Redevelopment fourth quarter of 2014, ending the is driving the location decisions supply and demand will con- Brad Gilpin of Unique Prop- of obsolete industrial space quarter at 6.6 percent. of retail developers as more and tinue to be a common theme in erties Inc.-TCN Worldwide into mixed-use space with a “Notwithstanding the large more new retail construction is the coming quarters,” the report represented the seller. retail component continues to increase in the availability of following the path of residential concluded. Affordable Continued from Page 22 lins of MCA arranged the $6.65 community features single-fam- million interim construction loan ily homes, community gardens, The community was purchased with a community bank in Denver membership to the Belle Creek by Irvine, California-based Avana- on behalf of an entity sponsored Family Center & YMCA, free com- th Capital Management for $13.6 by Chartered Development munity events, such movies in million. Corp., a Denver-based develop- the park, and walkability to retail ment company. and restaurants as well as the Bell Other News At completion, Belle Creek Creek K-8 Charter School. Commons will comprise 177 MCA also arranged construc- n Metropolitan Capital Advi- market-rate units and complete tion financing for previous phases sors Ltd. arranged construction the full development of the Belle of development of Belle Creek financing for the fourth phase of Creek community at 9444 E. 108th Commons, which includes one-, Belle Creek Commons, part of the Ave. in Henderson. In addition to two- and three-bedroom apart- Metropolitan Capital Advisors Ltd. arranged construction financing for Belle Creek community. the apartments and townhomes, ments as well as two-story town- the fourth phase of Belle Creek Commons, part of the Belle Creek com- Charley Babb and Tiffany Mul- the master-planned Belle Creek home units. munity. (See Other News.) AVAILABLE INFILL, INDUSTRIALLY ZONED DEVELOPMENT SITE

• 12.8 Gross Acres / 10.8 Net (Usable) Acres

• Approved Final Real Estate Subdivision Plat & Final Site Plan

•Zoned M-1 (medium industrial uses, including contractor equipment yard storage)

•On & Offsite Public Improvements Installed 2006 Cost: $1,250,000.00

•NET Price: $4,200,000.00

Call Sharon or Don at 720.206.4318 www.crej.com August 2-15, 2017 - Page 47 PROPERTY AVAILABLE For Sale For Lease Wanted office • industrial • retail • multifamily • land • medical office • hospitality • restaurants • senior housing & care

-·····---··· _ ..... J&B Building Company .....·····llllliiiiiii call Steve Peckar at: 303.741.6343 X 100 ·····-···---_ or visit our website: www.jandbbuilding.com

Meadowlark Columbine Valley Citadel Commons Shopping Center Shopping Center

Colorado Springs 1,200 - 4,500 SF Retail Suites Available 9050 W 6th Ave, Lakewood, CO 80215 3615 - 3625 W. Bowles Ave. WALMART shadow Littleton, CO 80123 anchored center 5,000 SF Available Join T-Mobile, Cici's Pizza, 1,200 - 1,928 SF available Gamestop and others at this busy- high visibility center! Matt Landes ext. 101 Peter Kapuranis ext. 103 Matt Landes ext.101

Academy Center Rock Creek Center Westlake Plaza

5310 - 5360 Montebello Ln. Superior, CO 1451 - 1499 W. Eisenhower Blvd. Colorado Springs Safeway Anchored Center Loveland, CO Academy Boulevard Frontage 4,463 SF Available 2,181 SF Retail Below Market Rates Directly adjacent to Safeway Space Available Divisible to 1,800 SF Great Visibility Supermarket 1,375 - 1,717 SF Available anchored center Peter Kapuranis ext. 103 Peter Kapuranis ext. 103 Matt Landes ext. 101 Page 48 - August 2-15, 2017 www.crej.com

2 3 4

HIGHWAY 36

1 CHURCH RANCH BLVD.

Building the Future of the Northwest Corridor

For more than 20 years, Etkin Johnson Real Estate Partners has been investing in Denver’s Northwest Corridor, where sustained demand is creating some of the nation’s most exciting opportunities in the real estate industry. And our new development projects in the region are adding to the growing momentum. We are proud to bring this high-quality, new construction to the area and to continue building the future of the corridor.

1| Hyatt Place Hotel, Westminster, CO: Six-story, 137-room hotel opening in spring 2018.

2| ATRIA, Broom eld, CO: 176,588 SF spec of ce campus with outdoor workspaces, glass roll- up garage doors and views of the nearby Flatirons, to be complete Q1 2018.

3| Louisville Corporate Campus, Louisville, CO: Up to 400,000 SF new industrial/ ex campus in the Colorado Technology Center, delivering in 2018.

4| 633 CTC Boulevard, Louisville, CO: 153,018 SF energy-ef cient industrial/ ex building in the Colorado Technology Center, to be complete August 2017.

Etkin Johnson Real Estate Partners | 1512 Larimer Street, Suite 100 | Denver, Colorado 80202 | 303.650.6500 | etkinjohnson.com

August 2017 CREJ ad.indd 1 7/21/2017 10:57:54 AM