A 240-unit Denver apartment complex sells for $47M, and Newmark Knight Frank reports the week’s largest lease.
Thomas covers commercial real estate, development and law. He is a graduate of the University of New Hampshire and previously worked as a business reporter at the Springfield News-Leader. Email him at [email protected].
The buyer plans to renovate the structure and add ground-floor retail space. DHA is building a new headquarters for itself in Lincoln Park.
The lawsuit revolves around the former First Avenue Hotel, which is being developed into new residences after it sold at a bankruptcy auction for $6.6 million. Defendant David Zucker, CEO of Zocalo Community Development: ‘This is an entirely frivolous lawsuit.’
It’s California-based Harbor Associates’ third acquisition in Denver.
Buyer Westfield Co. plans to redevelop the site, although the use will remain industrial.
Continuum Partners and CIM Group considering converting the structure into a hotel. But instead, it’s now in its final weeks of existence.
Tessler Developments submitted a previous plan in 2015 for the 2.68-acre site that once housed Mexican restaurant La Loma, but never broke ground. The new plan incorporates a number of changes.
Nurture co-founder: ‘It will operate similar to The Source or Avanti, if you will, but it will have health, wellness, beauty and fitness offerings, anchored by a café.’
A DTC hotel sells for $24M, a small lease is inked at 1144 Fifteenth and NAI Shames Makovsky reports the week’s largest lease.
The city purchased 198 parking spaces in 2003. Now, it’s selling them to the entity that owns the rest of the garage, as well as the Whole Foods and shuttered Sears buildings.