January 18, 2018
Denver – Transwestern’s Denver office announces the sale of a mixed-use property totaling 54,557 square feet at 3372 W. 38th Ave. in Denver. Denver Regional Investment Properties LLC acquired the property for a total of $24.5 million. Transwestern’s Tom Wanberg, John Blackshire, Brad Cohen and Larry Thiel represented the seller, Allante Properties, in the disposition.
“Allante Properties delivered an enduring asset with high-end, condominium-quality finishes, efficient and thoughtful design, great amenities and strong retail tenants,” said Thiel. “The investor pool was deep for this niche location and asset.”
Built in 2014, Highland Place consists of 68 residential units and five retail stores. The community is in a growth-leading urban location less than a mile from over 100 restaurants, bars, salons, coffee shops, grocers, and fitness studios, including the popular Tennyson Street and 32nd Avenue shopping districts.
“Allante Properties was intentional in creating a smaller but higher quality property, which can be seen in the luxury appliances and details throughout the community,” said Wanberg. “It’s very hard to find a brand new, under 70-unit community with such a great location and amenity package, demonstrated by the strong investor interest this asset received.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Denver office, follow @TranswesternCO.