Commercial

Trimble Navigation Ltd. purchased property on Westmoor Drive in Westminster, CO, from Westfield Co. Inc. for nearly $3.28 million or $215,345 per acre. The 15.21-acre parcel was acquired to construct a 125,000-square-foot office building with an expected completion by the second quarter of next year. The under construction property is across the street from the 99,000-square-foot office Trimble currently occupies at 10355 Westmoor Drive. Trimble...

Hanahreum Group completed its purchase of the former Albertsons space at 5036 W. 92nd Ave. in Westminster, CO, from Hampton Partners Holdings LLC and Inland Western REIT for $2 million, or about $46 per square foot. H Mart, the Asian supermarket chain, will open in the retail space. The 43,146-square-foot retail space is in the Northview Shopping Center. The property was built in 1984 and is on 3.71 acres and features 200 parking spaces. The structure...

RA Putnam & Associates Inc. sold 8774 Yates Drive in Westminster, CO, to Jamieson St. John for $2.07 million, or approximately $55 per square foot. Built in 1985, the three-story, Class B office building is 37,445 square feet. Sheridan Park 1 is in the northwest Denver submarket. Jared Leabch and Roger Simpson of Newmark Knight Frank Fredrick Ross acted in the capacity of transaction brokers. Please refer to CoStar COMPS #2276959 for further...

Gaylord Entertainment Co. (NYSE:GET) announced today that the state of Colorado awarded its Gaylord Aurora project a state sales tax incentive for an annual rebate of 65.8% of the state sales tax generated by the project for the first 30 years of its operation. Nashville-based Gaylord originally announced its plans to develop a resort and convention hotel in Aurora, CO, in June 2011. Located less than ten minutes from Denver International Airport...

Snyder Industries Inc. acquired property at 6770 Brighton Blvd. in Commerce City, CO, and 736 Birginal Drive in Bensenville, IL, from Rotonics Manufacturing for $8 million or $64 per square foot. The sale included the acquisition of the Rotonics Manufacturing business. The two-story, 62,000-square-foot industrial building in Commerce City was built in 1950. The 63,000-square-foot industrial building in Bensenville was built in 1982 and is in the...

Despite a generally flat March for pricing of commercial property, prices recovered to mid-2003 levels in the first quarter as improving fundamentals and liquidity causing a broadening of the recovery into non-core commercial real estate and secondary markets, according to this month's CoStar Commercial Repeat Sale Indices (CCRSI) report. The U.S. Composite Index ended the first quarter 4.3% above the same period in 2011, although prices are still...

This week's People of Note includes the following markets: Austin, Chicago, Houston, New York City, Philadelphia, Phoenix, San Antonio and Washington, DC. AUSTIN Transwestern Expands Investment Services Group By Dennis Bozzell Transwestern’s Central Texas region added Leah Gallagher as managing director for the firm's investment services group in Austin. Gallagher’s duties will include representing major institutional, government and private...

Barclay Group sold lots 2, 3 and 5 of the Harmony Market Place at 1514, 1526 and 1538 E. Harmony Road in Fort Collins, CO, for $10.8 million. ACF Property Management was the buyer. The three retail buildings were delivered in 2000 with a combined GLA of 60,792 square feet. The portfolio includes 23,751 square feet at 1514 E Harmony, 5,858 square feet at 1526 E. Harmony and 31,183 square feet at 1538 E. Harmony. The property was 94 percent leased...

Nexgen Boulder Holdings LLC sold 2870 28th St. in Boulder, CO, to Indigo Development LLC for $7.39 million or $499 per square foot. The 14,820-square-foot retail building was delivered in 2009. Walgreens occupies the property on a 75-year triple-net lease. For more information, please refer to CoStar COMPS #2292038.

Watumull Properties Corp. purchased 15301 E. Mississippi Ave. in Aurora, CO, from M.T.E. Investments Inc. for approximately $3.25 million or $185 per square foot. Built in 1998, the single-story retail building totals 17,548 square feet with 5,444 square feet basement floor area. It is on a 1.24-acre corner pad in a retail shopping center. The tenant, Walgreens, has a 60-year ground lease until June 1, 2058. Vilai Ananda of VSA Capital LLC represented...