Confluence completes assemblage for Arvada development

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Jefferson County

Property Location: SEC West 58th Avenue & Tabor Street; NEC West 56th Avenue & Union Street; NWC & SWC West 57th Avenue &Tabor Street (5685 Tabor St, Arvada), “Proposed Timberline Farms”

Property Description: Unplatted site & 16 lots platted

Land Size: 26.53 acres zoned A-2, proposed PUD-R, Arvada

Sales Price: $4.12M, or $3.53 per sf

Reception No.: 2016030193, 2016030194, 2016054191

Closing Date: 3/31 & 5/24

Grantor: Timberline Gardens Inc., Arvada Outdoor Storage LLC

& Charles & Jill Richardson**, 303-810-1017

Grantee: CD – Timberline LLC, c/o Confluence Companies, Tony De Simone, 303-643-5775 [email protected]

Comments: Three deeds commencing March 31, APN: 39-084-00-005 for $1.8M containing 9.75 acres, or $4.24 per sf, located at 11600 & 11700 W. 58th Ave.; 39-084-00-004 for $1.4M containing 9.45 acres, or $3.40 per sf. The third deed sold May 24 for $917,700, or $3.82 per sf, and contained 5.51 acres. This sale included 16 lots at northeast corner of West 56th Avenue & Union Street. Tony DeSimone & Tim Walsh are the two principals of Confluence Companies. The buyer purchased the southeast corner of West 58th Avenue & Tabor Street, which was consisted of 19.19 acres of land for $3.2M, or $3.83 per sf.   This property contained 44,250 sf of greenhouse space, which the seller has since vacated. **Also managing members for the first two deeds.

This is the final piece of a three-parcel acquisition by Confluence Companies, based in Golden, at the southeast corner of Tabor Street & West 58th Avenue. The buyer purchased the property prior to rezoning, and the final development plan dated 5-4-16 was proposed to the city of Arvada. The plan calls for 302 apartment units to be constructed on 18.95 acres, 12 units (duplex buildings) to be built on 1.81 acres and four lots on 5.77 acres are proposed, for a total of 322 units. The total density is 11.99 units per acre. The apartments consist of three 14-unit buildings, three 20-unit buildings, four 20-unit buildings and four 30-unit buildings, all containing 3 stories. Additionally, there will be 12 three-bedroom duplexes and four 1-acre home sites. The site will accommodate 697 vehicles, including 264 parking garage spaces and 235 surface parking spaces behind the 14 apartment buildings. There will be 198 street parking spaces scattered throughout the site. The developer has arranged for public parking on the adjacent Stenger Soccer Complex, which will contain 231 parking spaces. The property formerly was operated as the Timberline Gardens Greenhouses by Charles and Jill Richardson and was an “the place to go” for garden and horticultural advice and service.

Comp of the Day is provided by by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

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