Three of the four Denver properties where the startup operates at the intersection of hotels, apartments and Airbnbs have been sold since late 2019.
Three of the four Denver properties where the startup operates at the intersection of hotels, apartments and Airbnbs have been sold since late 2019.
“We just saw this as a unique opportunity to stay in the geographic area that we feel works for us,” said Roger Sherman of CRL Associates.
The soda giant wants to build a 1.1 million-square-foot building at Tower Road and Pena Boulevard and is marketing for sale its 30-acre property in RiNo.
The Denver Rescue Mission now has full control of the east side of the block. The seller paid $791,000 for the 0.36-acre property in 2010.
The retail and office district is the de facto downtown, but occupancy has been declining.
Marketed as a “one-of-a-kind redevelopment site,” the land where Pepsi has operated since the 1950s could be rezoned for a mixed-use project up to 12 stories.
A lawsuit by David Schott claims he is the victim of sex-based employment discrimination, breach of contract and defamation.
A right of first refusal really paid off. The developer purchased 198 parking spaces from the city for $6 million and sold them for $14.9 million.
“There’s a lot of uncertainty with capital markets for hospitality because of COVID,” said Andrew Katz, who wants to put up a 12-story building with 95 units.
The deal for the 273,963-square-foot Stanford Place I is worth about $172 a square foot. The sellers paid $43 million for it in 2016.
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