Scheels plans to build its largest Colorado location in Littleton.
The two-story sporting goods store will span more than 300K SF and be part of Mineral Place, a mixed-use redevelopment project at 700 W. Mineral Ave., the Denver Business Journal reported.
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The Littleton City Council approved an incentive package for Scheels that includes a sales tax refund of nearly 55% for 30 years if the retailer gets a certificate of occupancy in four years, the DBJ reported.
North Dakota-based Scheels has locations in Johnstown and Colorado Springs. The retailer is known for its massive stores, which feature an indoor Ferris wheel.
PEOPLE
Nate Levy has been hired as Koelbel and Co.’s division president of home building, previously working as the chief operating officer at Lokal Homes. Levy replaces Peter Benson, who is retiring after serving in the role for more than 13 years.
SALES
Missouri-based property investment company Michelson Organization purchased Peakline at Copperleaf, an apartment complex in Aurora, for nearly $73M. The 266-unit, 10-building complex at 4343 S. Picadilly St. was previously owned by 29th Street Capital.
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The University of Colorado System plans to sell 1800 Grant St., the school’s headquarters. CU’s system administration offices are expected to move to Independence Plaza at 1050 Curtis St. in 2027. The school’s foundation purchased Independence Plaza for nearly $28M.
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Denver real estate firm Berkeley Partners purchased The Collection at Airport Central, a five-property industrial portfolio near Denver International Airport. The fully leased property spans 604K SF and was fully leased to 12 tenants at the time of the sale. CBRE represented seller Prologis.
LEASES
Newmark has helped lease approximately 125K SF at 1800 Larimer St. in downtown Denver across eight transactions over the past year. Tenants include Boots Construction Co., The Boettcher Foundation, Morrison & Foerster LLP, First American Heritage Title Co., Ballard Spahr, Kaplan Kirsch and Newmark.
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HW Home opened a 10K SF showroom at 806 Albion St. in Denver’s 9+CO development. The home furnishings retailer relocated from Clayton Lane in Cherry Creek North.
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Denver-based Edible Beats, the restaurant group behind Root Down and El Five, is opening Pip Food + Drink at 2930 Umatilla St., Suite 100. Pip’s menu will be developed by El Five’s executive chef, Corey Ferguson, and will offer “micro-cocktails,” entrees and smaller-format options.
CONSTRUCTION AND DEVELOPMENT
A concept plan to replace a vacant bank branch at 606 W. Colfax Ave. with a select-service hotel was submitted to the city of Denver. The plan calls for a seven-story, 168-room hotel. The property was listed for sale for $1.1M earlier this week but is now under contract, according to a Crexi listing.
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FlatIron Crossing’s 25-acre mixed-use development, HiFi, will add an upscale hotel with rooftop amenities to the property. HiFi will also feature Pindustry, a residential community, Shake Shack and Blue Sushi Sake Grill.
THIS AND THAT
Denver was one of two U.S. cities on a list of 11 that had fewer office visits year-over-year, according to data company Placer.ia. Denver’s office attendance is down 50% from 2019.
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