Colorado-Real-Estate-Journal_508458

INSIDE 18 6 FEATURED CONTENTS FEBRUARY 4-17, 2026 Office 6 Industrial 14 Multifamily 18 Retail 24 Finance 33 Law & Accounting 38 CDE News 40 Who's News 51 14 New office space Kenai Capital sells in-progress office project in Lower Highland Class A industrial Aardex acquires Brands West campus from Hines for $39M Value-add community Security Properties reinvests in Rosemont West 84th for $51M 24 Anchor fitness space Nestreit buys 56,000-sf building occupied by new Vasa location by Avalon Jacka COMMERCE CITY – A retailer and distributor of automotive parts and acces- sories leased space in an industrial park near Denver International Airport. Advance Stores Inc., a subsidiary of Advance Auto Parts Inc., signed a seven-year lease for 178,027 square feet in Building 2 of Ascent Com- merce Center, located at 17956 E. 84th Ave., with owner Ambrose Property Group. The building is fully leased following the transaction. “The successful lease-up of Building 2 reflects the con- sistent demand for modern industrial facilities by large occupiers undertaking rapid advancements and evolutions in their global supply chain strategies,” said Ambrose Senior Vice President Pat Walsh. “We look forward to providing further value to Advance Stores to ensure that the property is positioned to fully accommodate their retail operational and distribution needs within the greater Den- ver market.” Ambrose acquired Ascent Commerce Center for $61 million in 2024, according to Adams County public records. The 33-acre, state-of- the-art park consists of three Class A industrial buildings. Building 2, a cross-dock facil- ity totaling 313,080 sf, features 36-foot clear height, 7-inch reinforced concrete floor slabs, 37 dock-high doors, two drive-in doors, a 200-foot truck court, 35 trailer stalls, a 0.75:1,000-sf parking ratio, Advance Stores leases 178,000 square feet by Avalon Jacka PARKER – A British institu- tional asset manager acquired a 300-unit garden-style com- munity through its U.S.-based real estate team. L&G – Asset Management, America bought The Alder, located at 15091 Belford Ave., from property developer Cen- tury Living. The sale closed at $97.2 million in Decem- ber, according to Apartment Insights. The purchase was made on behalf of L&G’s Insti- tutional Retirement business, which will be the sole investor in the property. “We are delighted to add The Alder to our U.S. portfolio, building on the momentum from our other acquisitions this year,” said Alexia Gott- schalch, L&G head of U.S. real estate equity. “This investment exemplifies our commitment to identifying high-quality, resilient assets that deliver value for our clients and sup- port the continued growth of our global Private Markets platform in the U.S.” Parker is a “highly attractive submarket within the Denver metro area, a target market for L&G, where strong demand has kept up with supply and where there are few new starts in the pipeline,” said Tim Wat- son, L&G head of investment and portfolio management, U.S. real estate equity. “This is a newly developed high-qual- ity building, very well ameni- tized with top-of-market offer- ings, and maintains a material discount to replacement cost. For our long-term investor cli- ent, this fits well within our growing portfolio.” Shane Ozment and Ter- rance Hunt of CBRE facilitated the sale. The team declined to comment on the deal. Completed in 2024, the 292,214-square-foot commu- nity includes 10 three-story rental buildings on 13.97 acres with a mix of one-, two- and three-bedroom units averag- ing 974 sf. Each apartment includes stainless steel appli- ances, in-unit laundry, large closets, a balcony, quartz coun- ters, tile backsplash, wood- style flooring, a smart thermo- stat, and a kitchen island or breakfast bar. Select units fea- ture dual-sink vanities, built-in shelving, mudrooms, desks, and herringbone-patterned bathroom tile. The property is 84% leased, according to Apartment Insights. Community amenities include a year-round resort- style pool, tanning deck and spa; an indoor-outdoor 24-hour fitness center, yoga studio and outdoor fitness lawn; an indoor-outdoor entertainment kitchen with covered dining area; a resident club room and coffee bar; a dog park and grooming sta- tion; fire pit areas with seat- ing; coworking spaces; a game L&G purchases The Alder for $97 million Please see Advance Stores, Page 15 Please see The Alder, Page 23 Advance Stores Inc., a subsidiary of Advance Auto Parts Inc., signed a seven-year lease for 178,027 square feet in Building 2 of Ascent Commerce Center. Located at 15091 Belford Ave., the 292,214-square-foot Alder includes 10 three-story rental buildings on 13.97 acres with a mix of one-, two- and three-bedroom units.