This Week's Denver Deal Sheet: $97M Wheat Ridge Apartment Sale
Evergreen Devco sold Outlook Table Mesa, a 250-unit apartment complex in Wheat Ridge, for $97M to FJ Management.
Located at 4051 Clear Creek Drive in Evergreen’s Clear Creek Crossing mixed-use development, the luxury property includes a resort-style pool, clubhouse, electric-vehicle charging stations and mountain views.
Dave Martin and Brian Mooney of Northmarq’s Denver office brokered the deal on behalf of Evergreen.
SALES
Quebec Square, a 208K SF retail power center at 7506 E. 36th Ave. in Denver, sold for $56.7M. JLL Capital Markets represented the seller, Alto Real Estate Funds. The buyer was Big Ben Private Real Estate I LP, a Canadian fund managed by Capital Asset Management. Tenants include Ross, PetSmart, Office Depot, Big 5 and Five Below.
LEASES
Big Brothers Big Sisters of Colorado signed an 8K SF lease at Tamarac Plaza II at 7535 E. Hampden Ave. in southeast Denver. Tributary Real Estate represented the tenant in the long-term deal. CBRE’s Mitch Bradley and Sergio Castaneda represented the landlord.
CONSTRUCTION AND DEVELOPMENT
AC Development and CoorsTek celebrated the topping out of Clayworks Building B3, a 182K SF office and restaurant building at 800 Ford St. in downtown Golden. The four-story structure is part of the first phase of the 1.25M SF Clayworks mixed-use district. Tryba Architects is the designer, and Holder Construction is the general contractor. Completion is expected in early 2026.
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Denver ranks No. 3 among major U.S. cities for downtown apartment construction, according to new Yardi data from RentCafe. The city added 13,149 downtown units over the past five years, with 48% of all new apartments built downtown — slightly up from the previous decade. Denver also saw a rise in adaptive reuse, with 5.4% of downtown units this decade coming from conversions, up from 1.6% last decade. Nationally, most metros saw a shift toward suburban development.
PEOPLE
Northmarq hired Cody Kirkpatrick as managing director in its Denver office, part of a national expansion of its debt and equity platform. Kirkpatrick joins from Berkadia alongside Chinmay Bhatt and Noam Franklin in Florida, with the trio bringing a combined $7B in transaction volume. Their focus includes institutional equity, preferred equity and build-to-rent projects across the U.S.
THIS AND THAT
Denver City Council approved two major land deals this week: the acquisition of the 155-acre former Park Hill Golf Course site for a future urban park and a $70M agreement to support land and infrastructure work at Santa Fe Yards, the future home of the city's National Women's Soccer League team.
Mayor Mike Johnston’s office described the moves as “generational investments” in the city’s future. The Park Hill parcel is the city’s largest-ever single land acquisition for park use. The Santa Fe Yards deal includes clawback provisions if the site is no longer used for a stadium. The stadium will be privately funded and is slated to open in 2028.
