A joint venture between developers Golub & Co. and Formativ broke ground on the 17-acre mixed-use development called Denargo Market in Denver’s River North business district.
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The project will be built in three phases, with the first phase focusing on infrastructure and more than 4 acres of open space. The development will encompass more than 3M SF and the first phase is expected to be delivered in 2025, according to a press release.
“We all want a city that is vibrant,” Denver Mayor Mike Johnston said at the groundbreaking, according to the release. “That means that it is active, engaged, where people are present and enjoying all the city has to offer. Denargo Market will add that vibrancy to this neighborhood and to downtown.”
SALES
Rockefeller Group purchased a 35.6-acre plot in Thornton to build a three-building, 453.5K SF industrial property known as 25 Commerce Park. CBRE’s Todd Witty and Daniel Close represented the buyer. The seller was Denver-based Confluent Development.
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A flex building at 7076 South Alton Way in Englewood sold for $2.2M. NavPoint Real Estate Group’s Matt Call represented the seller, Crosspoint Community Church. Pinnacle Real Estate Advisors’ Tom Matthews represented the buyer, Coram Deo Reformation Church.
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A 1.6K SF retail building at 340 South Wilcox St. in Castle Rock sold for $2.4M. The building includes a Pizza Hut and has another 4.8K SF of retail under construction. NavPoint Real Estate Group’s Jordan Burgess and Matt Kulbe represented the buyer, 340 Limited LLC, while Ascension Advisory’s Nina Valtchanov Argotte represented the seller.
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NavPoint Real Estate Group brokered the sale of a 5.7K SF office condo at 10579 Bradford Road in Littleton for $1.1M. NavPoint’s Matt Kulbe represented the seller, DCP Ken Caryl LLC. The buyer, Driven Properties LLC, was represented by Carr Healthcare’s Dan Gleissner.
LEASES
Archer Exteriors Inc. leased a 1.3K SF office space at 7338 South Alton Way in Centennial for 37 months. NavPoint Real Estate Group’s Jeff Brandon represented the tenant.
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Southside Plumbing leased 7.4K SF of industrial space at 8101 Midway Drive in Littleton for 61 months. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the landlord in the transaction.
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Simon Bros Roofing and Solar LLC leased a 4K SF flex space at 7076 South Alton Way in Englewood for 39 months. Matt Kulbe of NavPoint Real Estate Group represented the landlord.
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Total Tool leased more than 58.7K SF of industrial space at Pivot Denver, a 472K SF Class-A development at the intersection of 58th Avenue and Interstate 25 in Denver. Cushman & Wakefield’s Tyler Smith, Alec Rhodes and Aaron Valdez represented the landlord. Ringsby Realty’s Scott Patterson and Alex Ringsby represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Boulder-based developer Conscience Bay Co. announced plans to build a life sciences building known as Ridgeway Science and Tech in Boulder. The 112K SF development is expected to break ground in 2024 and deliver in 2026.
THIS AND THAT
Kentwood Real Estate acquired local brokerage Calibrate Real Estate for an undisclosed sum. Six of the firm’s agents will join Kentwood’s residential and commercial real estate teams. Kentwood previously acquired Savvy Realty in 2021.
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