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“We believe we’re paying less than 15 percent of the replacement cost,” Andy Klein told BusinessDen.
“We believe we’re paying less than 15 percent of the replacement cost,” Andy Klein told BusinessDen.
That’s 75 percent less than the last time it sold in 2013.
The buyer of the Baker property was Denver-based VanWest Partners.
“I believe in the long-term future of Denver,” said the buyer, who paid $14.5 million for the bulk of the 24-story office tower at 518 17th St.
The redevelopment of the 155-acre property along Colorado Boulevard will ultimately have to be approved by voters.
A 1.2 million-square-foot manufacturing facility on 152 acres will replace the beverage giant’s facility in RiNo, which sold to a developer last month.
They are the only local businessmen known to have been part of a bid for the NFL team, which is going to an ownership group led by Walmart heir Rob Walton.
Mark your calendars for our conversation with Mayor Mike Coffman, Westside Investment Partners founder Andy Klein and Aurora Highlands Principal Carla Ferreira.
Camden Property Trust, which bought the Baker property from Westside Investment Partners for about $105 a square foot, will build a five-story complex.
Thrive plans to build 322 homes, some detached and some townhomes. Another part of the campus is expected to be sold to a developer later this month.
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