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COLORADO REAL ESTATE JOURNAL
— January 6-January 19, 2016
Greater Denver
by Jill Jamieson-Nichols
The owner of Colorado’s larg-
est hotel, the Sheraton Denver,
sold the long-term ground lease
under the building for $210 mil-
lion andwill continue to own and
manage the property.
Chartres Lodging Group sold
the land at 1550 Court Place to a
group comprised of New York-
based David Werner Real Estate
Investments and AVR Realty. “It
was accretive to the overall value
of the hotel,” said Maxine Taylor,
Chartres Lodging executive vice
president of asset management.
Chartres has owned and man-
aged the 1,231-room Sheraton
Denver since 2008. It completed
a $70 million renovation in 2009
and is planning for the next round
of improvements, to include all of
the soft goods – linens, carpeting
and drapery – in 2017.
Located on the 16th Street Mall,
the hotel includes 133,000 square
feet of meeting space as well as
on-site parking.
s
by Jill Jamieson-Nichols
The developer of a 1,287-acre
commercial property adjacent
to Denver International Airport
has opened a $13 million road
that puts the property within
2 miles of the airport’s main
terminal and within 3,000 feet
of the cargo apron.
Phoenix-based A&C Proper-
ties invested $13 million to com-
plete Jackson Gap Street and
related infrastructure as part
of the first phase of Porteos.
The first phase also included
the new ParkDIA, a 7,500-space
parking complex developed by
Forum Real Estate Group that
offers covered and uncovered
parking, and shuttle and valet
services.
Jackson Gap Street, complet-
ed without public financing,
provides a quick route between
the development and terminal,
including the new Westin hotel
and soon-to-open airport light-
rail station.
“Before now, if you wanted
to access the important parts of
DIA – namely the terminal and
the cargo apron – you had to
McWhinney, Newmark Grubb Knight Frank, Sage Hospitality and Grand American Inc. recently held a
rooftop ceremony celebrating the construction progress of Dairy Block and kicking off the holiday season
by lighting up cranes used for construction with more than 6 miles of holiday lights. The Dairy Block will
include 250,000 square feet of office space, 60,000 square feet of retail space, a 172-room boutique hotel
and nearly 400 parking spaces.
Seasons greetings
