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“I don’t want to break records in the Tech Center,” said the buyer of Stanford Place III, which is about 70 percent leased. “What I want is to add tenants.”
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“I don’t want to break records in the Tech Center,” said the buyer of Stanford Place III, which is about 70 percent leased. “What I want is to add tenants.”
The seven-story building will be the corridor’s third hotel, joining The Source Hotel that opened in 2018 and the nearly completed Vib hotel.
Owner Ryan Cobbins wants to make some improvements but he’s open to being bought out of the business he founded in 2010.
Mainspring is just the third owner since it was built in 1928. The seller, nonprofit Women’s Bean Project, is moving to 1300 W. Alameda Ave.
“After a few visits and doing some research, we found that Five Points is a home for some of Denver’s most enticing and exciting foods,” said a cofounder.
Denver-based Focus Property Group, which developed an adjacent hotel, has owned the property for more than a decade.
The seller was the Denver Housing Authority, which had owned the commercial building since 1982 but never converted it into housing.
Creative Density founder Craig Baute said he’d like to find a new location in the neighborhood, but availability is limited.
Travis McAfoos, co-owner of Alchemy coworking, and Nava Real Estate Development are planning a five-story building with 150 units.
“If there was a plague of locusts, I wouldn’t have been surprised,” said Miss Molly’s owner Shane Speciale of challenges he faced at 2600 E. Colfax Ave.
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