David Ray of CCP recently represented a business and real estate investor with
United Colorado Enterprises (UCE) in the sale of a .74-acre (development-ready) parcel of land at 5701 W Colfax Ave in Lakewood. The sale price included the architectural plans and entitlements for a mixed use development that features 72 residential units, nesting over ground floor retail space. The master plan was designed by
Real Architecture, a Denver based architectural firm. Construction is scheduled to begin this week under the buyer, a developer with a passion for cutting edge design conceptions.
With the help of Column Commercial Partners, Vertix Builders just purchased a building in the town of Firestone. Vertix is a commercial builder that has an extensive portfolio of work you have probably seen all over the state, such as the Flight office building in RiNo or the new penguin exhibit at the main entrance to the Denver Zoo. Their recent purchase of 178 1st Street in Firestone will serve as their office headquarters and additional warehouse space as business continues to grow, especially in the healthcare sector. Matt Weist of CCP walked them through the buying process and advised them every step of the way. We congratulate Vertix on their new digs!
Do you ever come across a business and think, “Well duh! It’s a great concept, why didn’t anyone grasp on to this idea a decade ago?” In this case, I am talking about REACTIV. The company was founded in 2019 by Ryan Boykin and Jason Shepherd, two clever entrepreneurs in the real estate industry. They thought of a simple way for individuals or startup companies to rent space on a short term basis (as short as a couple of hours), as well as to help landlords to monetize areas of their real estate assets that (for multiple reasons) may not have been getting the attention they deserved. Listen, as Ryan tells us more about REACTIV and how simple and invaluable it is for both tenants and building owners.
Our Managing Broker, Matt Brower, recently had the opportunity to be a guest on the podcast SHOP TALK: The Real Estate Show! SHOP TALK discusses topics surrounding real estate with the intent to help other professionals working in the industry. The show was created by a company called The CE Shop, which offers real estate education, exam preparation, licensing, and continuing education courses online. In this episode, Matt offers a few suggestions for blooming entrepreneurs. Also, he and Jon Forisha, the host of the show, discuss some of the issues and possibilities that are surfacing for professionals amidst the pandemic.
Dear clients, colleagues and partners -
During these increasingly uncertain times, please use myself and my team as an immediate resource to
help save your company money on your real estate
. As COVID-19 continues to affect our city, businesses and lives, we are offering a no-cost review of your lease(s) to identify the best strategy to keep business moving forward as well as continue to have a viable space option. Things undoubtedly will continue to change, so please use us as your partner and sounding board as we learn more to provide you with updates as well as speak with your landlord to determine cost-saving options.
3. Collaborate as a team- Together we can develop a plan to engage and partner with your Landlord to discuss your potential options moving forward.
Steps to take now:
1. Gather documentation-Prepare documentation that demonstrates the impact that the municipal directives and economic climate, caused by the COVID-19 pandemic, is having on your business as well as projections for the rest of this year. Also, document a proactive plan demonstrating steps your business is taking to reduce the impact. This information may be important to share with your landlord and other entities you are contracted with.
2.
Review your lease- Let us review your lease (free of charge) so we can determine if there are any options available, specifically related to the
force majeure language. Unfortunately, it is unlikely that your rent payment can be abated, but there may be other creative options available.
3. Collaborate as a team- Together we can develop a plan to engage and partner with your Landlord to discuss your potential options moving forward.
Other Considerations:
Mitigate the situation-
While we are working to mitigate the financial real estate pressure, discuss and plan other areas where you can reduce the financial impact on your business. For example, contact your insurance company, banker, IT vendor, etc, to discuss any options they may have available for you. If you do not have those vendor contacts, let us know and we can put you in touch with our strategic partners.
If you are interested, we welcome a virtual discussion, whether via phone or zoom to review your situation further. To schedule a 15-minute call, please email
info@columncommercial.com
with your availability and we will coordinate.
Sincerely,
Matt Brower, Managing Broker
CCP, in partnership with CBIZ Gibraltar, recently assisted CBIZ with their lease at Metropoint I, 4600 S. Ulster Street in Denver. As CBIZ and their subsidiary companies continue to grow, they relocated to The Metropoint I Building and quickly took additional space (now totaling 28,000 SF) to accommodate new people joining their Denver team. Congratulations on the continued success, CBIZ!
Cresset Capital Management is a wealth management firm based in Chicago that was founded in 2017 and is rapidly growing in key markets throughout the US. CCP, in partnership with CBIZ Gibraltar, recently assisted Cresset with locating and negotiating deal terms for their new 11,400 SF office lease in Downtown Denver's newest high rise office building. 1144 Fifteenth Street was developed by Hines in 2018 and is home to several notable Colorado companies, including Gates Corporation, Optiv and Unicom Capital. They are scheduled to open for business this summer. Welcome to Denver, Cresset!
