A piece of land near Empower Field at Mile High changed hands this week for more than $6.2M, according to a press release from Kaufman Hagan.
The land at 1660 Federal Blvd. was once the home of Ponce Furniture Co., which served Denver for several decades. The store’s former owner, Frank Ponce, also owned the KBNO radio station and did Spanish-language commentary about Denver Broncos games. The building is slated to become an entertainment venue including a roller rink and bar.
“This deal was an excellent reminder that redevelopment comes in many forms,” Kaufman Hagan’s Will Scherman said in a press release. “Originally marketed for complete demolition, the buyer ultimately approached the property with a different vision for the existing space that will add to an already fast-growing community.”
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PEOPLE
Renae Fetrow joined Denver Commercial Property Services as the firm’s newest relationship manager. Before taking the role, Fetrow worked in DCPS’ landscaping division as a scheduling and routing supervisor.
SALES
NorthPeak Commercial Advisors brokered the sale of a 28-unit multifamily development located at 1115 Logan St. in Denver for $6.2M. NorthPeak’s Greg Johnson and Conner Piretti represented the seller, while Justin Brockman and Chris Student of The Brockman Group represented the buyer.
LEASES
Trade show entertainment company LVE leased a more than 18K SF industrial space at 4590 Geneva St. in Denver’s Central Park neighborhood at the Prologis Business Center. CBRE’s Paul Kluck and Session Group’s Kyle Benson negotiated the lease on behalf of LVE while CBRE’s Jim Bolt, Bill Thompson and Mike Camp represented Prologis.
CONSTRUCTION AND DEVELOPMENT
Hines Construction broke ground on Quantum 56, a new Class-A, six-building, 868K SF industrial park just west of I-25 on 56th Avenue. Phase 1 will feature three buildings and more than 581K SF that is expected to hit the market in Q2 2024.
THIS AND THAT
A new 12-story Class-A office building called The Current opened in Denver’s River North business district this week. The office features more than 240K SF of commercial space, two levels of underground parking, four levels of above-grade podium parking and numerous amenities.
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The Learning Center, a childcare and early childhood education franchise, is opening seven new locations in the Denver metro area. Each location includes a 10K SF learning center and a 5K SF outdoor recreation area. Each location will also employ up to 30 people and care for around 180 children aged between 6 weeks and 6 years old.
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