Denver County
Property Location: NEC Salida Way & East 61st Avenue, Denver, “TOD site”
Property Description: Vacant land, 218-unit apartment complex with 3-story buildings and tuckunder parking to be developed toward the end of 2016
Land Size: 6.52 acres
Sales Price: $2.2M, or $7.75 per sf, or $10,092 per buildable unit
Reception No.: 2016093136
Closing Date: 7/14
Grantor: Rail Stop LLC, Marcia Lewan, mgr., 303-295-3071
Grantee: MGL Pena Station LLC, Lisa Mullins, Greg Glade & Mike Gerber, mgrs.
Comments: The buyer is a developer in the Denver real estate market and has constructed a 156-unit apartment development, “Amaranth,” in Denver; 1,200 units of affordable housing in Colorado; and has a ground lease on a 19-acre site one block from the Fitzsimons Life Science District. The buyer can be reached at 303-892-6600 or www.mglpartners.com. The zoning is S-MX-8A, and the light-rail station is one block west of the subject property. Property was under contract commencing in December 2014 and was subject to rezoning and site approval.
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.
