65 Acres Released At Peña Station for Build-to-Suit Projects: The Denver Deal Sheet

KDC and L.C. Fulenwider Inc. are selling 65 acres of shovel-ready land at Peña Station, the 490-acre transit-oriented development near Denver International Airport. 

The site includes access to RTD’s 61st and Peña Station rail stop and sits within Peña Station Next, the mixed-use district that surrounds the station. 

The new parcels, at Yampa Street and Telluride Way, can support up to 3M SF of build-to-suit office and tech space next to United Airlines’ planned 113-acre flight training center.

Peña Station’s broader plan includes 1,400 apartments, 70 townhomes, 10 hotels and 172K SF of retail. Existing tenants include Starbucks, MOD Pizza and DiCicco’s Italian.

SALES

Unique Properties arranged two recent deals totaling $3M in metro Denver. Greg Knott and Earl Duffy represented the buyer in the nearly $2.2M acquisition of 4825 N. Oakland St., a 16K SF office-and-warehouse property. The team has been retained to lease the asset.

Separately, Sam Leger and Graham Trotter represented the buyer in the $900K purchase of 3958 S. Federal Blvd. That deal involved seller financing and closed at full asking price.

***

Thompson School District in Loveland has sold a 53K SF former school building at 1500 Monroe Ave. for $5M. The buyer, St. John Paul II High School, plans to repurpose the 6.6-acre site. Built in 1963, the property sits near Highway 34 and Highway 287. Cushman & Wakefield’s Travis Ackerman and Berkshire Hathaway’s Jack Tretheway represented the seller.

***

Gart Properties acquired Edwards Corner, a 48K SF mixed-use center in downtown Edwards in the Vail Valley. The property at 56 Edwards Village Blvd. includes retail and office space and is home to nearly 50 local businesses. Cushman & Wakefield’s Jon Hendrickson and Aaron Johnson represented the seller, Edwards Corner LLC. Built in 2004, the center features tenants like Hovey & Harrison, Drunken Goat and Il Mago.

FINANCING

JLL also arranged $27.3M in construction take-out financing for The Kenyon, a 124-unit luxury apartment building at 777 E. 17th Ave. in Denver’s Uptown neighborhood. Amenities include a rooftop deck, work pods and a two-story fitness center. The borrower is a joint venture of Corum Real Estate Group, ProspectHill Group and Geolo Capital.

CONSTRUCTION AND DEVELOPMENT

Denver-based Formativ has completed The Hunter, a 214-unit apartment community in downtown Colorado Springs’ emerging New South End area. The project marks Formativ’s first multifamily development in the city and was structured as an opportunity zone investment. Bryan Construction was the general contractor, Davis Partnership Architects handled design and Griffis Blessing is overseeing leasing. 

***

Grovewood Community Development has completed Phase 1 of Sapling Grove, an affordable housing community at 10151 E. Jewell Ave. in Aurora. The 81-unit first phase includes one-, two- and three-bedroom apartments for residents earning 30% to 80% of area median income. Plans call for 50 senior housing units. The project was funded by 22 public and private partners.

***

The Denver City Council approved up to $23M in bonds to support the Loretto Heights Family Apartments, a Mercy Housing project slated for 2980 S. Pancratia St. in Harvey Park South. Plans call for a five-story building with about 100 affordable units restricted to households earning 30% to 70% of area median income. The site sits near the historic May Bonfils Stanton Theatre and is part of the broader Loretto Heights campus redevelopment.

***

A $5.6M city loan for a 190-unit affordable project at 1530 W. 13th Ave. has been reassigned to a new site after the land was sold to an LLC linked to law firm Hogan Lovells, which has ties to the Denver Broncos. Developer Shanahan Development will now pursue the project at 155 W. Fifth Ave., while the original site remains subject to an affordable housing covenant. The move is expected to nearly double housing output without additional city funding.

THIS AND THAT

The Denver-Boulder metro area climbed seven spots to rank No. 9 in the U.S. for life sciences manufacturing talent, according to CBRE’s 2025 Life Sciences Talent Trends report. The market boasts a life sciences manufacturing workforce of 12,060, accounting for 0.7% of the region’s total employment base. Nearly 80% of biological and biomedical science degrees awarded locally in 2023 were in specialty disciplines — one of the highest ratios among the top markets.

***

Gov. Jared Polis canceled his proposed $28.5M pedestrian bridge that would have linked the Colorado state Capitol to Lincoln Veterans Memorial Park. The decision follows widespread public opposition, including a survey showing 94% disapproval, and Polis revealed the results in a tongue-in-cheek Instagram post. The bridge was originally planned to open in time for Colorado’s 150th anniversary in 2026.