Colorado-Real-Estate-Journal_518662

INSIDE 14 FEATURED CONTENTS APRIL 1-14, 2026 Office 6 Industrial 10 Multifamily 14 Retail 18 Finance 24 Law & Accounting 28 CDE News 30 Who's News 44 10 Class A industrial Joint venture acquires Deer Creek Commerce Center Building 1 Garden-style housing Fairfield debuts 297-unit Rowlen Apartments in Broomfield 18 Land acquisition Texas Roadhouse buys site in 2534 community for new restaurant by Avalon Jacka FORT COLLINS – A 105-unit townhome-style community in the Rigden Farm neighbor- hood sold for $40.8 million, or $389,285 per unit, or $327 per square foot. Avanti Residential acquired Enclave Rigden Farm, situat- ed on 4.37 acres at 2758 Iowa Drive, from Granite Capital Group Inc. in February. The seller completed its original plan for the asset, hitting its targeted hold period, achieving target pricing, and generating healthy returns for investors, according to GCG founder and CEO Bruce Savett. The asset was 95% occupied at the time of sale. “This sale represents a suc- cessful full-cycle investment and an outcome that aligns with the strategy we presented to our investors from the out- set,” said Savett. “At a time when many deals are strug- gling under the weight of opti- mistic underwriting, we are proud that our conservative approach and long-term disci- pline produced the result we set out to achieve.” “Rigden Farm was a strong- performing asset in a market we know well,” added GCG Director of Acquisitions Ashley Berglund. “We’re pleased with the outcome for our investors and appreciate Berkadia’s exe- cution on the disposition.” GCG purchased the 124,950-square-foot property in 2017. It renovated a portion of the units over its hold peri- od with updated finishes and overall improvements to the resident experience. “That value-add work was a core part of our thesis and contributed to the strong per- formance we saw over the hold period,” Savett said. Berkadia Denver’s Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster negotiated the deal on behalf of the seller. The team led 35 tours with investment groups. Berka- dia also arranged acquisition financing for the buyer. “Enclave Rigden Farm is a great townhome asset in Fort Collins,” Bratley said. “The fundamentals in Fort Col- lins are the strongest in the state right now, and the local buyer recognized this unique product located one block from grocery-anchored retail. This was a very competitive Avanti Residential buys Enclave Rigden Farm by Avalon Jacka BOULDER – A biotech com- pany leased a full building in east Boulder to expand its pep- tide development capabilities. CordenPharma Colorado signed a 15-year lease for the 64,000-square-foot building at 5505 Central Ave. in Flatiron Park with park owner BioMed Realty. CordenPharma Colo- rado will be the only tenant in the move-in ready building. The asset is the first purpose- built speculative lab building in Boulder, designed to sup- port sophisticated scientific processes. “We’re excited to partner with BioMed Realty on this project to accelerate our strate- gic growth and meet customer demand for complex peptide outsourcing, while creating additional jobs and attracting research talent to the region,” said CordenPharma Colorado Managing Director Michael Landau. “With our strong team and strategic vision, backed by our global facility network, these new labs will grow the life sciences sector in Boulder. As a (contract devel- opment and manufacturing organization), our develop- ment laboratories are founda- tional in delivering effective support to customers and their patients.” The lease term reflects Cor- denPharma Colorado’s long- term commitment to Boulder and reinforces Flatiron Park’s role as a “catalyst” for inno- vation in the region, a joint statement from the tenant and landlord said. Steve Billingmeier of Cush- man & Wakefield represented CordenPharma Colorado, and CBRE’s Erik Abrahamson and Kailee Lammers represented BioMed in the transaction. “We’re proud to deliver the first purpose-built lab build- ing at Flatiron Park, designed to meet the flexibility and performance needs of sophis- ticated science users,” said Jon Bergschneider, BioMed Realty president, West Coast markets. “Combined with a connected campus experience, curated amenities, Discover Here programming, and a tenant-first operating model, Flatiron Park supports inno- vation today while enabling long-term growth.” The building is adjacent CordenPharma leases 64,000-sf spec building Please see Avanti, Page 15 Please see CordenPharma, Page 12 CordenPharma Colorado signed a 15-year lease for the 64,000-square-foot building at 5505 Central Ave. in Flatiron Park with park owner BioMed Realty. Avanti Residential acquired Enclave Rigden Farm, situated on 4.37 acres at 2758 Iowa Drive, from Granite Capital Group Inc. for $40.8 million. 6 Headquarters move CitroTech relocates headquarters to Denver South submarket