This warehouse at 575-577 Osage St. near Burnham Yard sold at a steep premium earlier this month. (Matt Geiger/BusinessDen)
The sale of an industrial building near Burnham Yard in the Lincoln Park neighborhood last week fits a pattern of nearby purchases that can be linked to the Denver Broncos.
On Aug. 4, the Iowa-based construction company Kinzler Corp. sold 575-577 Osage St. for $10.7 million, more than twice what Kinzler bought it for ($5 million) five years earlier. Built in 1973, the 52,000-square-foot warehouse houses Kinzler and a stone installer.
The buyer was Custer Place Acquisition LLC. Little information is available about that entity.
The sale on Osage shares several details with recent purchases by the Broncos. It neighbors Burnham Yard, a vacant and state-owned former railyard that the Broncos are considering for a possible future stadium, and 485 Osage St., which the team bought in March.
Also, it was sold at a premium. Just as a self-storage facility at 741 N. Osage St. jumped in value from $42 million in 2022 to $53 million when the Broncos bought it in 2024, and a warehouse at 701 N. Osage purchased for $33 million in 2018 fetched $47 million last fall.
And then there is the buyer. Records show Custer Place Acquisition was created in December 2023, as were the LLCs behind 13 other property sales near Burnham Yard in the past year, and was formed by the Denver office of Spencer Fane. All 14 anonymous LLCs that bought land around Burnham Yard recently were created by local offices for national law firms, including Spencer Fane.
Tanner Kinzler, CEO of Kinzler Corp., did not return a phone call to discuss 575-577 Osage. Employees at the company’s office there referred BusinessDen to a general manager, David Valenzuela, who similarly did not return a call seeking answers about the sale.
Meanwhile, the Broncos remain adamant that they are still weighing several stadium options, including staying at Empower Field or moving elsewhere in Denver, Aurora or Lone Tree.
Staff writer Matt Geiger contributed to this report.
MAP: In this interactive map, the large property in blue is Burnham Yard, a state-owned former railyard in central Denver. The large property in purple is owned by Denver Water. Properties in yellow were recently purchased by LLCs formed in late 2023 by a Hogan Lovells attorney. Properties in red were recently purchased by LLCs formed in late 2023, but don’t have a link to Hogan Lovells. Boundaries are approximate.
This warehouse at 575-577 Osage St. near Burnham Yard sold at a steep premium earlier this month. (Matt Geiger/BusinessDen)
The sale of an industrial building near Burnham Yard in the Lincoln Park neighborhood last week fits a pattern of nearby purchases that can be linked to the Denver Broncos.
On Aug. 4, the Iowa-based construction company Kinzler Corp. sold 575-577 Osage St. for $10.7 million, more than twice what Kinzler bought it for ($5 million) five years earlier. Built in 1973, the 52,000-square-foot warehouse houses Kinzler and a stone installer.
The buyer was Custer Place Acquisition LLC. Little information is available about that entity.
The sale on Osage shares several details with recent purchases by the Broncos. It neighbors Burnham Yard, a vacant and state-owned former railyard that the Broncos are considering for a possible future stadium, and 485 Osage St., which the team bought in March.
Also, it was sold at a premium. Just as a self-storage facility at 741 N. Osage St. jumped in value from $42 million in 2022 to $53 million when the Broncos bought it in 2024, and a warehouse at 701 N. Osage purchased for $33 million in 2018 fetched $47 million last fall.
And then there is the buyer. Records show Custer Place Acquisition was created in December 2023, as were the LLCs behind 13 other property sales near Burnham Yard in the past year, and was formed by the Denver office of Spencer Fane. All 14 anonymous LLCs that bought land around Burnham Yard recently were created by local offices for national law firms, including Spencer Fane.
Tanner Kinzler, CEO of Kinzler Corp., did not return a phone call to discuss 575-577 Osage. Employees at the company’s office there referred BusinessDen to a general manager, David Valenzuela, who similarly did not return a call seeking answers about the sale.
Meanwhile, the Broncos remain adamant that they are still weighing several stadium options, including staying at Empower Field or moving elsewhere in Denver, Aurora or Lone Tree.
Staff writer Matt Geiger contributed to this report.
MAP: In this interactive map, the large property in blue is Burnham Yard, a state-owned former railyard in central Denver. The large property in purple is owned by Denver Water. Properties in yellow were recently purchased by LLCs formed in late 2023 by a Hogan Lovells attorney. Properties in red were recently purchased by LLCs formed in late 2023, but don’t have a link to Hogan Lovells. Boundaries are approximate.
