Sale-leaseback of ‘iconic’ Denver Diner Restaurant yields $3.5 million

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Denver County

Property Location: 740 W. Colfax Ave., Denver, “Denver Diner”

Property Description: 3,646-sf restaurant, YOC 1966, *renovated in 2016

Land Size: 16,287 sf

Sales Price: $3.5M, or $959.96 psf

Reception No.: 2018085719

Closing Date: 7/11

Grantor: George Skordos

Grantee: 740 West Colfax LLC (Chad A. Brue, mgr.) 303-500-8959

Financing: $1.44M payable to MidFirst Bank

Comments: *Fire damage in 2016 resulted in $1.4M renovation of the building. The building was completely gutted and new equipment installed. Konstantine Skordos is owner/manager of the Denver Diner. This is a sale-leaseback with an initial five-year term.

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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