Latest News

THORNTON CO, October 13, 2016— Paul DeCrescentis and Jarod Pate of DePaul Real Estate Advisors would like to congratulate Stein Mart and The Staenberg Group on the grand opening of Stein Mart at The Grove shopping center in Thornton, Colorado!  

DENVER CO, October 6, 2016—DePaul Real Estate Advisors is pleased to announce the sale of a 65,628 square foot office / warehouse building located along the I-70 corridor in Denver, Colorado. Paul DeCrescentis and Jarod Pate organized the investor group that purchased the property. Jeremy Ballenger and Tyler Carner represented the Seller.

The project, known as Stapleton Square, is comprised of two, multi-tenant buildings located in the heart of Denver’s Airport / Montbello submarket – Denver’s largest industrial epicenter. Located at the southeast corner of I-70 and Havana Street, Stapleton Square offers small bay industrial units in a submarket that lacks competing product. The project is 100% occupied and includes tenants such as System Pavers of Colorado, Silver Bullet Water Treatment Company, Denver Printing Company, and 13 others.

DePaul Real Estate Advisors is a full service commercial real estate advisory and brokerage firm that specializes in income-producing and investment properties, commercial financing, leasing and site selection.

For additional information, please contact Paul DeCrescentis or Jarod Pate at 303-333-9799.

The Denver City Council recently passed an ordinance creating the City’s first ever dedicated affordable housing fund, which is paid for by development impact fees and a property tax mill levy. ICSC along with other business groups opposed the new development impact fees.  

January 1, 2017 is the effective date for the new impact fees, which will be imposed as follows:

•    Residential - Single Family/Duplex:  $0.60/square foot
•    Multifamily - $1.50/square foot
•    Commercial - Hotel/Office/Retail/Other: $1.50/square foot
•    Industrial/Agricultural : $0.40/square foot

The impact of the mill levy increase on a commercial property owner will be $145/year for every $1 million of value.  City officials say these dedicated revenue streams will subsidize the preservation or building of 6,000 income-qualified housing units over the next 10 years.

Again, please remember the January 1, 2017 effective date.  If a development application is submitted by end of day Dec. 31, 2016, technically, the new impact fees will not apply.  However, if you are planning new projects, make sure to submit applications as soon as you can; things will be very busy in late December.

If you have any questions or comments, please don’t hesitate to contact tcarlson@evgre.com.

Courtesy of ICSC - Office of Global Public Policy
 

LAFAYETTE CO, August 2, 2016—DePaul Real Estate Advisors is proud to announce the sale of a 1.5 acre parcel in Lafayette, Colorado.  The property is located in the Black Diamond subdivision, near Walmart Supercenter and Walgreens northwest of Baseline Road and Highway 287.  Jarod Pate represented the buyer, an out of state development company.  Thanks go to Eric Rutherford at Wright Kingdom Real Estate, who represented the seller.

DePaul Real Estate Advisors is a full service commercial real estate advisory and brokerage firm that specializes in income-producing and investment properties, commercial financing, leasing and site selection.

For additional information, please contact Jarod Pate at 303-333-9799.

Attention all Denver Commercial Real Estate Owners:

Currently in the City of Denver there is an ordinance being drafted that will have a great effect on the owners of commercial buildings greater than 25,000 square feet. The Energize Denver initiative is working toward implementing energy efficiency standards among commercial and multifamily buildings in Denver, the end result of which will be mandated improvements to commercial buildings or fines for non-compliance.

As of now, the policies that are being recommended include requiring building owners to provide an annual energy efficiency report and every five years building owners will have to prove that their Energy Star score is within the top quartile nationally.  Otherwise the city could require the owner to spend money on efficiency programs or pay fines for non-compliance.  There are similar ordinances in Seattle, where non-compliance fines accrue at $20,000 per year, and Boulder where fines can reach $1,000 per day.

The task force working on the exact language of the ordinance is taking public comments now.  Please consider taking a moment to comment on the impending law. More detail on the initiative can be found below.     

Comments should be addressed to the Department of Environmental Health and emailed to EnergizeDenver@denvergov.org by June 30.
 
Next meeting scheduled for June 30 at CAVEA (890 Auraria Parkway, 4th floor, Denver, CO 80204) to discuss ordinance language: Public is allowed to come and observe.

For more information, please click on the following links:

• EnergizeDenver.org
• Energize Denver Task Force | Operating Protocol - Final, January 21, 2016
• Energize Denver | Criteria for Evaluating Policy/Regulatory Options
• Energize Denver Task Force | Recommendations