Prime parking lots in RiNo under contract

[momentopress url=https://momento360.com/e/u/4ac447292ec543a3b6b0a703a7da7599?utm_campaign=embed&utm_source=other&utm_medium=other&heading=6.619860071952857&pitch=-19.10283623569844&field-of-view=75]

A drone shot of Pepsi’s lots. Drone photography by Blake Rubenstein, of Guerilla Capturing.

The deal’s not quite in the can, but it’s getting there.

Pepsi has put the parking lots across the street from its RiNo bottling facility on the market, and Carmel Partners, a San Francisco-based apartment developer, is under contract to buy them, multiple sources tell BusinessDen.

The parking lots are at 3800 and 3900 Brighton Blvd., within walking distance of the 38th and Blake commuter rail station — an area poised for intense redevelopment in the coming years. The lots, a combined 3.77 acres, have incentive zoning that allows up to 16 stories.

The lots are across the street from the Pepsi bottling facility. (Thomas Gounley)

A listing brochure obtained by BusinessDen doesn’t list an asking price, but the sources said Carmel is prepared to pay about $235 a square foot.

A local Carmel executive did not respond to a request for comment.

CBRE brokers Jim Bolt, Tyler Carner, Jeremy Ballenger and Jessica Ostermick are marketing the property, according to the brochure. Reached last week, Bolt declined to comment.

Carmel Partners already controls another huge chunk of land in RiNo. The company dropped $30 million in early 2018 for 3301 Brighton Blvd. and 3400 Arkins Court; it has proposed a six-story apartment complex with 403 units.

[momentopress url=https://momento360.com/e/u/4ac447292ec543a3b6b0a703a7da7599?utm_campaign=embed&utm_source=other&utm_medium=other&heading=6.619860071952857&pitch=-19.10283623569844&field-of-view=75]

A drone shot of Pepsi’s lots. Drone photography by Blake Rubenstein, of Guerilla Capturing.

The deal’s not quite in the can, but it’s getting there.

Pepsi has put the parking lots across the street from its RiNo bottling facility on the market, and Carmel Partners, a San Francisco-based apartment developer, is under contract to buy them, multiple sources tell BusinessDen.

The parking lots are at 3800 and 3900 Brighton Blvd., within walking distance of the 38th and Blake commuter rail station — an area poised for intense redevelopment in the coming years. The lots, a combined 3.77 acres, have incentive zoning that allows up to 16 stories.

The lots are across the street from the Pepsi bottling facility. (Thomas Gounley)

A listing brochure obtained by BusinessDen doesn’t list an asking price, but the sources said Carmel is prepared to pay about $235 a square foot.

A local Carmel executive did not respond to a request for comment.

CBRE brokers Jim Bolt, Tyler Carner, Jeremy Ballenger and Jessica Ostermick are marketing the property, according to the brochure. Reached last week, Bolt declined to comment.

Carmel Partners already controls another huge chunk of land in RiNo. The company dropped $30 million in early 2018 for 3301 Brighton Blvd. and 3400 Arkins Court; it has proposed a six-story apartment complex with 403 units.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks


Deprecated: File Theme without comments.php is deprecated since version 3.0.0 with no alternative available. Please include a comments.php template in your theme. in /wordpress-versions/6.3.4/wp-includes/functions.php on line 5653

One response to “Prime parking lots in RiNo under contract”

  1. If those parking lots are developed, they better do something about 38th from the freeway to the train tracks. This very busy thoroughfare narrows from two lanes to one as it goes under the tracks, something that needs to change if there is even more traffic than there is today.

Leave a Reply

Your email address will not be published. Required fields are marked *