This Week's Denver Deal Sheet: Sentral Adds To $4B Portfolio
Sentral has taken over management of 24Fifty at University Park, a 252-unit luxury apartment community at 2450 S. University Blvd. in Denver.
The deal marks Sentral’s second property in Denver and is part of a broader 1,500-unit portfolio expansion that includes properties in Los Angeles and San Francisco.
Sentral, which has dual headquarters in Denver and San Francisco, now manages more than $4B in Class-A multifamily assets nationwide.
“As we continue to grow in markets across the country, we are proud to be recognized by the world’s leading residential developers as the only property manager that can provide this level of hospitality lifestyle experience for residents,” Sentral President and Chief Operating Officer Roman Speron said.
SALES
The 13K SF home of The Hornet restaurant at 76 Broadway sold for $3.3M — below its $3.95M asking price, according to the Denver Business Journal. The mixed-use site is also home to Lucky Noodles, 18 offices and 21 parking spaces. The buyer is tied to Tyrone Rocque of Platinum Lending Group. Platinum CRE’s Paul Cattin and Kentwood Commercial’s Todd Snyder handled the deal.
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An 11-unit property at 1937 Goss St. in Boulder sold for $3.4M, or about $309K per unit. The value-add asset is located in the Goss Grove neighborhood. Pinnacle Real Estate Advisors’ Luke Salazar, Robert Lawson and Jim Knowlton represented both parties. Financing was provided by Chase Bank.
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Marshall Manor Apartments, a 14-unit complex at 6499 W. 38th Ave. in Wheat Ridge, has sold for $2.85M, or about $204K per unit. The property includes one- and two-bedroom units, with recent upgrades to most apartments, as well as new windows, roof and electrical panels. Pinnacle Real Estate Advisors’ Jim Knowlton represented both buyer and seller.
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Quannah Partners sold Gold’s Marketplace, a 59K SF retail center at 26th Avenue and Kipling Street in Wheat Ridge, to CentrePoint Properties. The site was fully redeveloped with new signage, infrastructure and a revamped tenant mix. The center is now fully leased to 17 tenants, including Illegal Pete’s, Dogtopia and Queen City Roasters. Cushman & Wakefield’s Jon Hendrickson brokered the sale.
LEASES
Fabrica RiNo, formerly Industry Denver, has signed more than 27K SF of new leases since its late 2024 rebrand by Conscience Bay Co. New tenants include an expanded Snooze headquarters and test kitchen along with Rule Gallery, which relocated from the Art District on Santa Fe and contributed large-scale public art.
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CBC has upgraded the building’s common areas with hospitality-style finishes and greenery, positioning Fabrica as a creative office hub amid a sluggish Denver office market.
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The Grecian Grazer leased 1,600 SF at 18671 E. Mainstreet in Parker. The retail concept, which combines New York and Greek culinary influences, will offer charcuterie boards, a market and event programming. Pinnacle Real Estate Advisors’ Kyle Moyer, Elizabeth Morgan and Cody Stambaugh represented the tenant.
CONSTRUCTION AND DEVELOPMENT
The Garrett Cos. started construction on two apartment communities totaling nearly 400 units and $145M in development value. The projects include a 224-unit development in Longmont and a 163-unit community in Colorado Springs.
The Longmont project at 245 Bountiful Ave. is expected to deliver in early 2027, while the Colorado Springs site is slated for late 2026 delivery. Wintrust and National Bank of Indianapolis provided construction financing.
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Bowman Consulting has secured a $1.3M contract to design and manage ATEC Parkway, a two-mile roadway running through The Aurora Highlands. Awarded by the Aerotropolis Area Coordination Metropolitan District, the contract includes design of roadways, stormwater systems and utilities. ATEC Parkway is the district’s first infrastructure project and a key connector for future development.
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Centennial-based E5X Management plans to redevelop the former Intermountain Health Lutheran Hospital campus into a mixed-use community with as many as 1,500 residential units, retail and civic space. The 92-acre site at 8300 W. 38th Ave. in Wheat Ridge has been vacant since August. The multiphase project is expected to take five years. CBRE represented Intermountain Health in the transaction.
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Office Evolution Denver Metro North/Northglenn will expand its coworking space by over 5K SF, bringing the total footprint to over 16K SF. The expansion will add 30 new private offices, nearly half of which are priced under $800 per month. The location, owned by Diane and Dennis Mapes, is set to debut the expanded space by June 1.
THIS AND THAT
As construction nears completion, Denver has rebranded the 16th Street Mall simply as 16th Street, aiming to redefine the corridor as a mile-long urban experience rather than a retail strip. City leaders announced the change alongside the 16th Street Summer Kickoff — a slate of events featuring 150 vendors, 100 performers and the International World Cup of Speed Climbing.
