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16 20 6 22 Its own place The future of a pocket of properties along Water Street is examined Rocky Mountain high Aboutique apartment community in Boulder sets a record price per unit for Colorado Buying in Cortland Partners is ramping up its Denver presence with Metropolitan at Lincoln Station buy Record setting A 228-unit apartment property sells in one of the largest apartment sales ever to close in Pueblo MAY 3-MAY 16, 2017 Featured Quarterly

by Jill Jamieson-Nichols

Majestic Realty Co. is

going big – really big – on

speculative development at

Majestic Commercenter in

Aurora.

The company will break

ground in June on a

701,500-square-foot ware-

house/distribution build-

ing, the largest spec indus-

trial building ever built in

Colorado.

Driving the project is the

success Majestic has expe-

rienced with a three-build-

ing, 834,000-sf project to

be delivered in October. It

has preleased 537,000 sf, or

64 percent, of that project,

which was the largest spec

warehouse development

undertaken in the Denver

market.

The new building, Build-

ing 15, breaks Majestic

Realty’s previous record

for the largest single spec

industrial building in Colo-

rado. Majestic developed a

500,000-sf building in 2013

that, at that time, was the

largest to be built.

With completion of Build-

ing 15, Majestic Realty will

have developed 2.5 million

sf at Majestic Commercent-

er in the last five years –

about the same amount it

built in the first 15 years of

the 1,000-acre park at Inter-

state 70 and Tower Road.

“With 450 acres of unde-

veloped land still available

in our park, and another

500 acres available directly

adjacent in our next phase

Majestic set to break another spec record Please see Majestic, Page 14

by Jennifer Hayes

Apioneering project is brew-

ing in Westminster.

The city of Westminster and

REgeneration Development

have executed a letter of intent

to partner on the development

of the first market-rate, transit-

oriented, mixed-use project at

Westminster Station.

The project, currently pro-

posed as a phased two-build-

ing project with ground-floor

commercial space and four sto-

ries of residential above, will

wrap the south and west sides

of the new600-spaceWestmin-

ster Station parking garage at

the intersection of Irving Street

andWestminster Station Drive

along RTD’s B-Line.

The first building is planned

to include 51 units above

approximately 12,000 square

feet of retail space while the

second phase of development

will include around 72 units

above 14,000 sf of commer-

cial space. Both buildings are

planned to have four stories

of wood-framed residential

units over a concrete podium

first-floor commercial retail/

restaurant space.

The project also recently

signed its first tenant – Gemini

Beer Co., which inked an LOI

with developer Westminster

Station REgeneration LLC to

bring a new taproom/restau-

rant to the development’s first

mixed-use building.

“As a Westminster resident,

I wanted Gemini’s first physi-

cal taproom to be in the same

community where my family

and I live,” said Chris Dutton,

owner of Westminster-based

Gemini Beer Co., who has

operated other brewpubs in

the Denver region. “Over the

past few years I’ve seen all the

investments the city and RTD

have been making at West-

minster Station, and I fully

support the city’s vision for

future mixed-use redevelop-

ment around this new transit

hub. So when the opportunity

arose to be the anchor tenant of

REgeneration’s first transit-ori-

ented building here, I jumped

at the chance.”

The 3,000-sf taproom and

restaurant will feature Gem-

ini Beer’s current selection of

brews as well as one-off beers

for special occasions that are

only available at Gemini’s

Westminster Station taproom.

“Our goal with this taproom

is to create an environment that

Pioneering project coming to Westminster

With a new speculative building, Majestic Realty will have developed as much space in five years as it

developed in its first 15 years at Majestic Commercenter, a master-planned business park in Aurora.

EVstudio

Gemini Beer Co. is the first tenant to execute an LOI at Westminster Station.

Please see Westminster, Page 36

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