Commercial real estate sales down in metro Denver - Puget Sound Business Journal (Seattle):

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Metro-area sales for the 12 months endedMarchy 31, compared to the previous 12-month period, also were especially in the office market. The LoopNet released this week, includede office, retail and industrial buildings as wellas apartments, but not land, hotels and health-carse facilities. Minimum selling price of deals included in the datawas $2.5 The office market had one of the biggestg declines in sales among property types, with no salesa of more than $2.
5 million for the first quarter, compared to $380 million in salews for 2008's first period, according to Other data providers includee the Colorado State Land Board's first-quarter purchase of a new headquarters buildinv at 1127 Sherman St. in downtow n Denver for $4.7 million. That sale closed March 31, accordingh to Denver County realestate records. For the most recent 12-monthg period, ending March 31, metro Denver reportef $678 million in officer building sales, down from $2.9 billion for the previoues 12-month period. Over the past 12 downtown Denver had themost metro-arez office-property sales, with seven buildings trading for a total of $332 million, according to LoopNet.
Two downtown deales were amongthe period's largest -- the $157. 8 million sale of the two-building World Trade Cente and MillenniumFinancial Center's $47.i9 million sale, both in October 2008. Bases in San Francisco, LoopNet (NASDAQ: provides information services to the commercial real estate includingsales listings. LoopNet customers include CB Richard EllisGroup Inc., , , Co. and RREEF Fundsd LLC. Industrial -- $40 million in sales in Q1 comparedto $207 million in Q1 2008; $404 millio in sales for the 12 monthes ended March 31, compared to $658 million for the previoux 12 months.
Among the largest recent industrial saleswas Denver-based 's PLD) sale of Building 8 in ProLogi s Park 70 for $19.3 million in March. Majot industrial buyers in the past 12 monthss included HinesInterests LP, IBC Holdings LLC and TA Associates and major sellers, besides ProLogis, include (NYSE: FR) and SVN Equitied LLC. Retail -- $13 million in Q1 2009 down from $69 million in Q1 2008; $430 million in sales for the past 12 comparedto $838 million for the previous 12-month Biggest first-quarter retail sales include a forme Circuit City store on South Colorado Boulevard in which sold for $7.
5 Among the biggest retail sales in the past 12 monthsw were the $161 million sale of Southlands, metrok Denver's largest shopping center, in December 2008, and the $94.5 million sale of the Denver Pavilions mall in downtowm Denver last summer. Top retail buyers in the past 12 monthws were Southlands buyer of New York as wellas Denver-basee LLC and , partnersz in the Denver Pavilions acquisition. Major sellerx included Southlands developer LLC ofGreenwoos Village, and Pavilions investors Arthurr Hill & Co. LLC and Roche Finanz GmbH. Apartments -- $29 millionm in sales for Q1 downfrom $194 million for the firs t period of 2008; $528 milliob in 12-month sales, down from $1.
77 billiobn for the previous comparable Among the largest recent apartmeny transactions was the $20.9 million sale of The Bouldersd in Boulder in January. Majoe buyers of apartment properties, over the last 12 included LLCand , and top sellerss included Principal Capital and AIV) of Denver.