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Page Background ‘Mainstream’

An office building whose

location has become ‘mainstream’

trades for $46.7 million.

No limit

Denver buyer sees limitless

opportunity for a value-add

apartment community in Fraser

Bulk sale

Prologis sells 644,422 square

feet of warehouse/distribution space in

Denver as part of a large portfolio deal

Grande plans

The new owner of the

shopping center that houses Casa

Bonita wants to add

more local flavor

JUNE 18-JULY 1, 2014

by John Rebchook

It’s been in the works for

years, but a key parcel in

the heart of the West 38th

corridor in Wheat Ridge

is moving closer to being

developed.

Quadrant Properties Col-

orado, based in Littleton,

is expected to close on the

complicated, contaminated

14-acre parcel at the south-

west corner of 38th and

Wadsworth Boulevard at

the end of the year and start

construction of the mixed-

use Wheat Ridge Corners in

early 2015.

Wheat Ridge Corners

could have an expected

completed value of $40 mil-

lion to $50 million, accord-

ing to veteran retail devel-

oper Bob Turner, president

of Quadrant.

“The site has probably

been vacant for a good

four years now,” said Pat-

rick Goff, city manager for

Wheat Ridge.

“This is a priority rede-

velopment area for the City

Council,” Goff said.

While no leases have been

signed, the development

could have 75,000 square

feet to 80,000 sf of retail, as

well as a pad that could be

sold to another developer

for a medical office or multi-

family building.

“We probably won’t do

that building ourselves

because we primarily focus

on retail,” said Linda Sweet-

man of Quadrant.

Previously, much of the

site had been occupied

by car dealers – Go Ford

West and John Elway Auto

Nation.

Before that, a dry cleaner

was on a portion of the site,

which contaminated part

of the land. That may be

cleaned up using tax credits

under Senate Bill 73 – which

Gov. John Hickenlooper

signed in a building on the

site last month.

Complicating the redevel-

opment is that a portion of

Key Wheat Ridge site may be developed

Developer Bob Turner talks of his plans for 38th and Wadsworth in Wheat Ridge.

by Jill Jamieson-Nichols

A transit-oriented mixed-

used development will be

built in place of Butterball’s

former turkey processing

operations in downtown

Longmont.

Pathfinder Partners and 150

Main LLC, whose managing

p a r t n e r

is

Brian

W.

Bair,

b o u g h t

seven par-

cels

of

land total-

ing

27.5

acres

at

First Street

and Main

Avenue for

$4.5 million. The first phase

of development will include

demolition of the main,

271,965-square-foot process-

ing plant and construction of

250 luxury apartments.

“We recognized it as a

tremendous infill redevel-

opment opportunity,” said

Lorne Polger, Pathfinder Part-

ners seniormanaging director.

Being in a redeveloping area

that is literally at the corner

of First and Main was “very

attractive to us,” he said.

“We believe the city of

Longmont is well positioned

for future growth and devel-

opment due to its affordabil-

ity, gentrification, improving

economy, population growth

and proximity to both the

Boulder and Denver job mar-

kets,” said Polger, who noted

the Longmont and Boulder

areas are technology hubs,

with companies including

Seagate Technology, Amgen,

IBM Corp. and others.

Bair, a longtime Denver-

Bouldercommercialrealestate

professional, was instrumen-

tal in putting together the deal

and will head up develop-

ment efforts.

“It’s a unique opportunity

to develop 27 acres right in the

middle of town with access to

transit,” he said. Longmont’s

First & Main Station will pro-

vide bus transportation and

ultimately commuter rail, and

Butterball property to be mixed-use TOD

The former Butterball campus includes seven properties in central Longmont.

Brian Bair

Please see Butterball, Page 12 Please see Wheat Ridge, Page 16

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