A price of $4.43 million, or $147/SF, was garnered by Ken Spencer via Marcus and Millichap agent Brian Smith in the sale of the Broomfield Medical Plaza building to Resolute Investments.  Located between Sheridan Boulevard and Main Street in Broomfield, the property totals 30,070 SF.

The 3-building Quebec Centre office complex in Greenwood Village was recently sold by a joint venture of JER Partners and Circle Capital Partners.  Represented by Riki Hashimoto and Dan Grooters of CB Richard Ellis, the 106,482 SF property at 7340, 7400, and 7430 East Caley Avenue was traded to Sidford Capital for $5.8 million, or $54/SF.

A 200-acre business park has been announced for a site near Denver International Airport by DIATC LLC, a partnership led by real estate development company CH Thompson Company LLC.  To be located in Commerce City at the northwest corner of Pena Boulevard and Tower Road, the Denver International Airport Technology Center has zoning approval for 40,000 SF of retail and service uses, 400 hotel rooms, a 25-acre airport surface parking lot and 1.5 million SF of commercial/industrial buildings, making it suitable for travel-related services and manufacturing and distributing uses and giving it a potential economic value of 4,000 employees.  Having a future estimated value of $200 million, the marketing of the property is being managed by Crosbie Real Estate Group via Scott Crosbie and Eli Boymel for the retail component and Steve Hager, Matt Trone and Matt Gautreau for the industrial sector.

A 7-year lease for the Gunbarrel Business Park in Boulder has been signed by American Recreational Products.  Negotiated on behalf of landlord Tyler Pacific LLC via Freeman Myre, the lease totals 32,000 SF at 6235 Lookout Road.

CB Richard Ellis agents Jim Bolt and Mike Camp represented Acme Delivery Service in the signing of their lease for the address of 4102 Oneida Street in Denver.  Located near Stapleton, the leased space totals 148,200 SF.  St. Paul Properties, the landlord, was represented via Cassidy Turley Fuller agent Dan Bess.

Two business parks in Centennial were recently exchanged between buyer Revere-Tucson LLC and seller Sun Life Assurance.  Known as Arapahoe Business Park I&II, the properties respectively total four buildings totaling 55,000 SF at 7388 South Revere Parkway and one 78,000 SF building at 7399 South Tucson Way, and were sold for $3.18 million, or $24/SF.  Revere-Tucson was aided in the purchase by Jim West of Black Diamond Cos.

Kyle Malnati of Medison Commercial Properties represented Done Plumbing in the purchase of the 22,652 SF industrial building at 541 Norfolk Street in Aurora.  Purchased for $1.49 million, or $66/SF, seller Norfolk Street LLC was represented via Nick Schill of Pinnacle Real Estate Advisors.

A former lumber building on 2.24 acres at 150 West 60^th Place in Denver was purchased by Phillip Nussbaum from Strangeways Associates via Greg Knott and Brad Gilpin of Unique Properties LLC-TCN Worldwide.  Sold via Bill Thompson and Jim Bolt of CB Richard Ellis for $1.48 million, or $25/SF, the new owner intends to convert the 59,950 SF building into a tire distribution warehouse.

The luxury home market tightened considerably in April from April 2011, according to a report by independent broker Gary Bauer.  His latest analysis of the sector, which has a base price of $1 million, indicates a 48.5% decline from April 2011 for the total of unsold homes available0020for sale to 596, as sellers are now lowering their asking price to below $1 million or deferring the sale via one- to two-year lease-to-purchase agreements.  However, while the actual sales rate of 41 in the month trails April 2011 by almost 30.0%, the year is currently outpacing last year for sales and dollar volume, posting respective rates of 161 and $243.1 million compared to the year-to-date measures for 2011 of 156 and $235.9 million.  The report also credited 20 sales in the sector in the April period to Boulder and Denver counties, with the next highest sales occurring in order in Douglas, Arapahoe, and Jefferson counties, while condo sales in the sector were limited to Denver County.  The Gary Bauer report is based on Metrolist data.

Colorado was among 13 states to post an increase in the western states Consumer Price Index for April. Measured by the U.S. Bureau of Labor Statistics, the region increased from March by 0.2% to place the year-over-year increase at 2.1%. The western states region also includes Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.

The Housing Market Index improved 5 points from April to post 29 in May, reports the National Association of Home Builders and Wells Fargo. Used to gauge sentiment of the market by homebuilders for the next 6 months and based on a benchmark score of 50, the respective measurements of 30 and 23 for current single-family home sales and buyer traffic for the next 6 months reflect equal increase of 5 points, while the measure of 34 for sales expectations is a gain of 3.

The U.S. Commerce Department reports that retail sales increased in April. According to the agency, the measure posted a 0.1% increase from March in the period.  Additionally, the Consumer Price Index was unchanged in April from the previous month. However, relative to a year-ago, the overall measure increased by 2.3% and the core measure, which excludes food and energy prices, also increased by 2.3%.

Allegiant Airlines has announced that it will expand its service from the Loveland-Fort Collins Airport to Hawaii.  The new route will begin on June 29^th and will include a stop in Las Vegas.

The Briargate on Main apartment complex in Parker was recently sold for an undisclosed amount to JRK Property Holdings.  Sold on behalf of Colony Realty Partners LP of Boston via Doug Andrews, Jeff Hawks, Shane Ozment and Terrance Hunt of Apartment Realty Advisors, the 325-unit complex is located at 18931 East Briargate Lane and had been listed at $50 million.

Carmel Partners Inc. recently received $39 million, or $130,000/unit, in its sale of The Bentley Apartments to Guardian Life Insurance Co. of America. Sold via CB Richard Ellis agents Daniel Woodward, David Potarf, Jordan Robbins, Tyler Anderson, Sean Cunningham and Asher Gunter, the 300-unit complex on 16.61 acres is located in Lakewood at 7846 West Mansfield Parkway.

Paychex signed a lease with The Pauls Corp. via Newmark Knight Frank Frederick Ross for the address of 4300 Kittredge Street in Denver.  The leased space totals 54,540 SF.

Denver International Airport marked another accomplishment this week with the beginning of transatlantic service by Icelandair.  To offer access to 23 European cities via Reykjavik, Iceland, the service is expected to benefit Colorado by $28 million annually and create as many as 300 jobs.

The Public Trustee Office for Boulder County reports that the measure of foreclosure starts decreased by 31 in April from March to total 69, and noted that Longmont posted the highest total in the period at 36. Additionally, the County decreased in its total of foreclosure sales from March by 13 to 23. Broomfield County posted an increase of 2 foreclosure starts from March to 22 and declined by 6 in its total of foreclosure sales in the period to 4.

An effort to stop an apartment project proposed for development near West 32^nd Avenue has now culminated in a lawsuit against the Denver City Council, developer RedPeak Properties and the owners of the sites.  Filed by Peter Brey, Don Fowler, Dennis and Lynn Keane, Todd Lilienthal, Bea Lopez, Christine Manesis, Gail and Richard Montoya, and Victoria Rozales, the suit is claiming the height of the 5-story development runs contrary to the character of the neighborhood, and that the U-MS-5 zoning approved for the area by the Denver City Council in 2010 does not conform with the Blueprint Denver plan adopted in 2002 and could impact the area with lower property values.  RedPeak is proposing to begin construction of the 147-unit development, which is slated to be five stories along Lowell Boulevard and Meade Street and four stories on West Moncrieff Place, this summer.

The measure of consumer sentiment increased in early May, according to Thomson Reuters/University of Michigan. Setting a 4-year high of 77.8 for the month is a gain of 1.4-points from April and reflects an increase of 4.4 points in its index of current economic conditions to 87.3 and a decrease of 0.6 points in its index of consumer expectations to 71.7.