Automotive group assembles 8.7 acres on Arapahoe Road corridor

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Property Location: SWC E. Arapahoe Place & S. Blackhawk St., Centennial

Property Description: Vacant land, proposed Bobby Rahal Auto Dealership

Land Size: 8.7 acres

Sales Price: $2.96M, or $7.90 psf

Reception No.: D6126729 & D6111316

Closing Date: 11/3 & 9/30

Grantor: R&R LLC, Walid Maaliki, mgr., & Jordan-Arapahoe LLP, Jean Graham & Chris Wittenbrink, partners

Grantee: Team Rahal Centennial Inc., c/o Bobby Rahal Automotive Group, Ron Ferris, CEO, 717-691-5600, 6715 Carlisle Pike, Mechanicsburg, PA 17050

Comments: See APN: 2073-30-2-07-001, 002, 003, 004, 006, 007. Lots 1-6, Block 1, Centennial East Corporate Center, 2nd Filing. This property was listed by Kittie Hook, 303-260-4395, & Wade Fletcher, 303-260-4319, of Newmark Grubb Knight Frank. The buyer was represented by Brian Shorter, 303-370-7462, of SullivanHayes. The two sales were recorded via separate special warranty deeds and are contiguous and combined to reflect the purchase prices of $1.6M and 1.39M respectively. The total sales price paid by Team Rahal was $2.99M, or $7.90 per square foot. The corner parcel containing 2.6 acres sold for $14.13 psf, while the non-Arapahoe Road frontage land (6.1 acres) sold for $5.25 per sf.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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