A local coffee shop with locations in Denver and Parker plans to open a third location later this year.

Convict Coffee Co. will open at 2260 E. Colfax Ave. at the edge of Denver’s Cheesman Park neighborhood. An opening date has not been announced.

“To be honest, me and my kids weren’t even looking for location number three. When this fell into our lap, we knew this had to be it,” Convict Coffee founder Dan Klehm said on Facebook.

Klehm, who previously served time at Vacaville State Penitentiary, founded Convict Coffee in Parker in 2024. The coffee shop, which focuses on serving “coffee with conviction” and giving back to the community, opened its first Denver location earlier this year.

Convict Coffee’s new location will be adjacent to R&R Head Labs, a barbershop that employs ex-convicts. It will replace Savageau Coffee and Ice Cream, which opened on Colfax Avenue in 2023.

SALES

San Antonio-based real estate investment firm Embrey purchased an 18-acre parcel in Lafayette for $38.5M. The land at the northwest corner of Northwest Parkway and Highway 287 is expected to be developed into 324 multifamily units. CBRE represented the seller, Milestone Development Group, in the sale. 

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California-based real estate investment firm JB Matteson purchased a 288-unit multifamily complex in Loveland for approximately $72.3M, according to Larimer County records. JLL helped JB Matteson secure a $40M loan to purchase the property from Vintage Communities. This is JB Matteson’s first acquisition in Colorado.

LEASES

Illumine Legal signed an approximately 14K SF lease at Belleview Tower in the Denver Tech Center. The law firm previously occupied about 8,200 SF at the 12-story office building. Denver-based TRE represented Illumine Legal in the 71% office expansion.

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Also in the Denver Tech Center, multifamily developer Thompson Thrift signed a 10K SF lease at Terrace Tower. The company, which established a regional office in Denver in 2022, has developed 22 multifamily properties in Colorado.

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Ursa Major opened a new manufacturing facility in Longmont to expand the production of its in-space and avionics propulsion systems. The 25K SF facility, according to BizWest, features welding and manufacturing labs, an environmental test lab and a clean room. Ursa Major’s expansion is expected to create up to 1,850 new jobs.

CONSTRUCTION AND DEVELOPMENT

Construction on Waldorf Astoria, a 37-unit luxury condominium in Cherry Creek North, is underway. General contractor Hyder Construction has finished pouring the basement slabs, and ground-floor concrete pours are underway. Vertical construction is expected to begin in the fall, with the project wrapping up in the first quarter of 2028.

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Douglas County School District opened Phase 2 of its Legacy Campus. The Lone Tree campus allows high school students to earn industry credentials and college credits and gain real-world experiences in advanced manufacturing, construction, automechanics and other realms. 

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Big Sky PK-8, a 145K SF school for St. Vrain Valley School District, opened at 12790 County Road 7 in Longmont. Centennial-based JHL Constructors was the general contractor on the project.

THIS AND THAT

Denver is one of the most evenly split millennial housing markets in the U.S., according to recent data from RentCafe. More than 50% of millennials in Denver own their homes, and 49.4% rent.