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Manchester Capital Management paid $14.85M for the newly renovated Gold Star Sausage Factory building at 2800 Walnut St. in Denver’s River North neighborhood.
The Manchester, Vermont-based firm purchased the property from Pathfinder Partners LLC, which recently completed a $7.4M renovation of the historic building into creative office and retail space. San Diego-based Pathfinder paid $4.6M for the property in 2015.
The renovated complex has unique architectural features, such as its sky-lit bow-truss roof systems, 18- to 25-foot ceilings and a rugged brick facade accented by steel-framed windows. A large exterior loading dock was repurposed to serve as an outdoor plaza. Tenants now in the building include Design Write Studios, Artisan Rug Gallery and Boffi Studios Denver.
“The Gold Star building exemplifies the best that RiNo has to offer in an adaptive reuse development project,” Pathfinder Senior Managing Director Lorne Polger said. “Our revival and renovation of this 1930s-era building was focused on staying true to the neighborhood’s roots while creating a truly unique and marquee property for the area.”
Pathfinder has been active in Colorado, with 19 acquisitions and 14 dispositions since 2010. The company acquired three Colorado properties in 2017 — Via Del Prado/Chateau, an 82-unit apartment property in Boulder; the independent living portion of the Shalom Park Campus in Aurora; and Quail Ridge Apartments, a 140-unit property in Thornton.
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