November 19-December 2, 2014 —
COLORADO REAL ESTATE JOURNAL
— Page 17
exceptional working relationship
with WhiteWave coupled with
our ability to meet their facil-
ity requirements at 1900 Cherry
made this deal attractive for both
parties.”
The location allowsWhiteWave
to remain in Boulder County,
an important component of its
brand, while expanding opera-
tions and benefitting from the
location directly off the North-
west Parkway via U.S. Highway
36.
“We continue to see substantial
growth in the northwest corridor
and believe this lease is indica-
tive of the demand we’ve seen
for Class A industrial/flex space
in the market,” said Good. “A
sizable lease with a quality ten-
ant like WhiteWave at our most
recent development is a testa-
ment to the strength of our tenant
relationships and our develop-
ment strategy within the region.”
The building features 24-foot-
clear ceiling heights, 11 truck
docks, two drive-in doors, heavy
power and sustainable design
elements including low-E glass,
a GenFlex cool roof system, an
energy-efficient HVAC system,
skylights, LED site lighting and
electric-car charging stations.
Etkin Johnson owns and man-
ages nine industrial/flex proper-
ties totaling 730,000 sf along with
30 acres of developable land at
CTC. It currently is under con-
struction on a building at 1900
Taylor Ave. and is marketing two
additional buildings within the
business park.
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WhiteWave Foods will occupy most of the space in Etkin Johnson’s new building at 1900 Cherry St. in the
Colorado Tech Center.
rado State University campus.
Other News
n
RoyW. Martin
purchased
a 2,239-square-foot industrial
property at 246 Basher Drive,
Unit 6, in Johnstown as an
investment.
James R.
and
Lynda L. Vitale
sold the prop-
erty for $180,000 cash.
Randy Marshall
of
Sperry
Van Ness/The Group Com-
mercial LLC
represented the
buyer.
Mary Jo Brockshus
of
Re/Max Alliance-Commer-
cial
was the listing broker.
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Academy Heating and
Cooling
leased 2,251 sf of
industrial space at 4562 Den-
rose Court, Unit 5, in Fort
Collins.
Jeffrey Doran
of
Realtec
Commercial Real Estate Ser-
vices
represented the land-
lord,
Mariah Properties LLC.
Erik Broman,
also of Realtec,
represented the tenant.
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TVA LLC
leased 2,207 sf
of office space at 231 W. 67th
Court in Loveland.
Jerry Chilson
of
Sperry Van
Ness/The Group Commercial
represented the tenant.
Ron
Young
of
Re/Max Alliance-
Commercial
represented the
landlord,
VI-PER Investments
LLC.
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Dacono. SteelStar recently was
acquired, and Star Properties
LLC sold the 34,047-square-
foot building on 6.75 acres for
$3.1 million.
With com-
petition from
energy and
energy ser-
vices compa-
nies, “There’s
a lack of
product up
there,” said
Kirk Vanino
of Cushman
& Wakefield
of Colorado Inc. “When you’re
looking for a building with
yard up north, you’re lucky
to find something,” he said,
noting the property occupied a
“sweet spot” in the market.
Vanino, who represented the
seller with Cushman & Wake-
field’s Taylor Hazard, said
there was significant interest in
the property.
Built in 2001, the building
has 4,047 sf of office build-out,
five cranes, and dock-high and
drive-in loading.
Doug Viseur of CBRE repre-
sented the buyer in the trans-
action.
Other News
n
Headlamp
Fam-
ily Trust
paid $515,000 for a
7,905-square-foot retail prop-
erty at 1010 S. Lincoln Ave. in
Loveland.
Cobey Wess
of
Sperry Van
Ness/The Group Commer-
cial LLC
represented the seller,
James L. Arvidson. David Pul-
len
of
Pullen Real Estate
rep-
resented the buyer.
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Kenneth Howie
sold 2,680
sf of office space at 1337 Riv-
erside Ave., Units B and C, in
Fort Collins to
1337 Riverside
Avenue LLC
for $375,0000.
Steve Stansfield
of
Realtec
Commercial Real Estate Ser-
vices
represented the seller.
Dan Bernth
of
Doberstein
Lemburg
represented the
buyer.
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Canyon Bakehouse LLC
leased 2,076 sf of office space at
177 Madison Ave. in Loveland.
Patrick O’Donnell
and
Bruce
Campbell
of
Realtec-Loveland
represented the tenant and the
landlord,
D&B Properties.
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commercial real estate, and
Henry Williamson Jr., founder
and managing director of Inter-
Capital Advisors, who talked
about Middle East capital flows.
Although, “Europe is obviously
the main focus for them” because
of proximity, Williamson said
investors in Saudi Arabia, United
Arab Emirates, Qatar and other
Gulf Cooperation Council coun-
tries are starting to invest more in
NorthAmerica andparticularly in
theU.S. They are particularly fond
of office properties and hotels, he
said.
According to Olson, German
investors are becoming increas-
ingly active in the U.S., whileNor-
way, which has theworld’s largest
pension fund, with $900 billion in
assets, began investing in the U.S.
within the last couple of years.
The fund is likely to become a big-
ger player in the U.S. with plans
to invest $9 billion a year in real
estate globally over the next
three years, he said.
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we have, the better office we’re
going to be. It’s all about hiring
good people and eventually
making them our partners.
“We are fortunate to have
an excellent pool of brokers in
this region and we hope Lee’s
progressive platform will offer
a meaningful and distinct alter-
native.”
In addition to owning a stake
in their local offices, Lee &Asso-
ciates brokers have the oppor-
tunity to invest in new offices
nationally as they come on line.
The company expects to open
a 52nd office in the Midwest
or Southwest this year, Rinkov
said. Lee & Associates’ Phoenix
office, a 25-year-old firm with
approximately 50 brokers, pro-
vided major financial backing
for the new office in Denver.
Rinkov said it was important
for Lee & Associates to be able
to service inbound business in
Denver. “Exposing the brand to
another geography is very help-
ful nationally,” he added.
Offices also have opened in
Cleveland, New York, New
Jersey, Charleston, Atlanta and
other U.S. cities. Lee & Associ-
ates Denver will be located at
1610 Wynkoop St., Suite 450.
John Bitzer founded Bitzer
Real Estate Partners in 1995 and
has 30 years’ commercial real
estate experience. JR Bitzer is
an office specialist who focus-
es on tenant representation for
local and national clients, and
Webert is an industrial specialist
whose cients have included Big
O Tires, First Industrial Realty
Trust, Industrial Developments
International, Whirlpool and
others.
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Kirk Vanino
