The University of Colorado’s South Denver facility, a 175,780-square-foot mixed-use Class A building in Lone Tree, was put up for sale.
The news comes after CU announced in September 2020 that the plant was no longer financially viable. JLL was hired to manage sales activities for the building.
The offer offers a unique adaptive re-use option for the three-story facility with a state-of-the-art meeting space with a capacity for more than 1,000 people, a two-story atrium and foyer, outdoor areas, a theater with 300 seats, a large kitchen and several classrooms. The 14.4 hectare site has parking spaces for 442 vehicles and an additional 4.4 hectares of arable land.
The well-maintained facility was completed in two phases in 2002 and 2009 and can be easily adapted for a variety of uses including educational, religious, event spaces, offices, or a combination of uses.
The JLL team representing the seller is led by Director Lindsey Fahey and Executive Vice President Patrick Bolick.
“As the move to the suburbs has accelerated, this offering offers a compelling opportunity to break into the southeastern Denver suburb market, the largest market in the city and one of the highest performing,” said Bolick. “As it stands, the site offers a unique environment to meet the immediate needs of a user. It is characterized by a high-quality construction, excellent visibility and an infrastructure that consists of a cafeteria, an auditorium and a large-volume multi-purpose room. “
“Alternatively, the fact that the site includes additional buildable land also provides a compelling redevelopment game that offers options for a wide variety of buyer profiles,” added Fahey.
The property is located at 10035 South Peoria Street and is approximately 18 miles south of downtown Denver in the affluent suburban community of Lone Tree. The property has views of more than 38,000 vehicles per day along Lincoln Avenue and has excellent regional access due to its proximity to the intersection of Interstate 25 and C-470. It’s also near top employers at the Denver Tech Center, which has more than 11.7 million square feet, and the Meridian International Business Park, among others.
According to a recent press release from JLL, Denver is one of the emerging markets that is attracting residents and investors because of its low cost of living and attractive lifestyle. Denver has seen more than 13% population growth and more than 25% employment growth since 2010.
Image courtesy of JLL