St. Charles Town Co. is pumping up its presence in Bonnie Brae. A Denver-based entity of real estate development firm St. Charles Town Co. completed the purchase of a 12,500-square foot building at 709 S. University Blvd.
It paid $2.45 million to BBAC LLC for the property. The property, home to ink! Coffee, sits adjacent to the Campus Lounge, for which St. Charles Town Co. also is part of the ownership group.
“Over the past three years, we have developed a strong tie to the Bonnie Brae neighborhood with the purchase of The Campus Lounge property,” said Charlie Woolley, president and founding principal at St. Charles. “Ink! Coffee is a community gathering place and a big part of the local business community. We are thrilled to have inherited ink! Coffee as our tenant. The ink! property and Campus Lounge property were owned for many years by the same owner and it seems right to have unified ownership again.”
The building ink! occupies is a converted service station – one of four service stations that operated on the block starting in 1910 through the 1940s.
“We were attracted to the property’s location as well as the uniqueness and quality of the renovation and remediation the seller completed – a rare find in today’s increasingly competitive Denver infill market,” added St. Charles CFO and Principal Darrin Grommeck. “We look forward to supporting the economic and social vitality of the Bonnie Brae neighborhood with this and our other holdings for years to come.”
The property is the eighth in St. Charles’ Denver infill retail portfolio.