Western Real Estate Business

NOV 2015

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C A L I F O R N I A www.REBusinessOnline.com Western Real Estate Business • November 2015 • 15 M O U N TA I N S TAT E S URBAN COMMONS BUYS RENAISSANCE HOTEL IN DENVER DENVER — Urban Commons has purchased the 400-room Renaissance Hotel in Denver for a reported $44 million. The hotel is located at 3801 Quebec Street in the Stapleton neigh- borhood. The hotel includes 11 suites and about 30,000 square feet of meet- ing and function space, including the 11,700-square-foot Colorado Ballroom. The Renaissance is situated near the expanding Enterprise Business Park. It will also be in close proximity to the FasTrack East Corridor light rail line that should debut in 2016. The seller, Trifecta Hotel D Owner LLC, was represented by James Es- carzega, Steve Michels and Stephanie Tsai of Cushman & Wakefeld's Global Hospitality Group. CARDINAL GROUP TO MANAGE 9SEVENTY NEAR THE UNIVERSITY OF COLORADO AT BOULDER BOULDER, COLO. — Cardinal Group Management has been awarded the management of 9Seventy in Boulder, located on the east side of the Univer- sity of Colorado at Boulder. The property is comprised of 138 units across fve, four-story buildings. Beginning in November 2015, 9Sev- enty will ofer studio, one-, two- and three-bedroom apartment homes. The community will have a resident clubroom with kitchen, outdoor grill- ing area, views overlooking Chataqua Park and the Flatirons, swimming pool, ftness center, business center, billiards table and guest patio. Cardinal Group Management will now manage more than 11,000 units in 20 states. LANDINGS AT EAGLERIDGE APARTMENTS IN PUEBLO SELLS FOR $28 MILLION PUEBLO, COLO. — A private indi- vidual has purchased the 236-unit Landings at Eagleridge Apartments in Pueblo for $28 million. The communi- ty is located at 4749 Eagleridge Circle. Landings at Eagleridge was built in two phases. Phase I was completed in 2002, while Phase II was fnished in 2008. Both the buyer and seller, H.E. Whitlock, were represented by Ron, Shane and Ryan Spraggins of Com- monwealth. BRIDGE SQUARE APARTMENTS IN BRIGHTON SELLS FOR $12.1 MILLION BRIGHTON, COLO. — The 168-unit Bridge Square Apartments in Brigh- ton has sold to an unnamed buyer for $12.1 million. The community is locat- ed on South 18th Ave., about 20 miles from Downtown Denver. It was built in 1973. Brian Haggar of Marcus & Millichap represented both the buyer and the seller in this transaction. ARMSTRONG DEVELOPMENT COMPLETES CONSTRUCTION ON NEXTCARE BUILDING AT HIGHPOINTE PARK IN THORNTON THORNTON, COLO. — Armstrong Development has completed con- struction on a new 4,500-square-foot building at HighPointe Park in Thorn- ton. Nextcare Urgent Care now occu- pies the freestanding structure. Con- struction commenced on the pad this past April and was completed in late September. DATAMASTER BUYS FAIRFIELD CROSSING BUILDING IN UTAH LAYTON, UTAH — Datamaster has acquired Fairfeld Crossing Building, a 16,000-square-foot ofce building in Layton, just north of Salt Lake City. The space was formerly a retail asset, but the real estate appraisal software company will house its sales and tech services at the property. DataMas- ter was represented by Chris Falk of Newmark Grubb ACRES. The seller was represented by Adam Hawkes of Mountain West Retail and Investment. 36' CLEAR ON DEMAND EXPANSION SPACE Meeting retail demands means expanding and adapting. Watson's 36' clear facilities with built-in expansion space let you rapidly grow your operations and inventory without adding to your leasing costs. LEARN HOW TO EXPAND UP AND SAVE! www.36ftclear.com The hotel includes 11 suites and about 30,000 square feet of meeting and function space.

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