This Week's Denver Deal Sheet
Emrgy, a startup that installs small turbines in water irrigation canals, raised more than $18M to expand its operations and open its first production facility in Aurora, Colorado.
Emily Morris, Emrgy’s CEO and founder, told The Associated Press the company is getting a boost from the recently signed federal Inflation Reduction Act. The law offers a 10% tax credit for sourcing renewable energy machinery and a 30% tax credit for renewable energy development.
“I’ve watched how solar has risen to dominate the renewable energy mix over recent years,” Morris said. “We know the faster we can generate new power means we will be more impactful and can grow.”
SALES
Christian Brothers Automotive Group purchased 0.92 acres at 6800 South Pierce St. in Littleton. Mike Quinlan of NavPoint Real Estate Group represented the buyer, and John Weisiger and Jim Lee of CBRE represented the seller, 6800 South Pierce LLC.
LEASES
Blue Origin, the space exploration company founded by Amazon Executive Chairman Jeff Bezos, expanded its lease at 8744 Lucent Blvd. in Highlands Ranch. The company now leases approximately 36K SF of office, or about three of the building's six floors.
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Small Giants, an architecture, engineering and construction marketing firm with offices in Denver and Phoenix, moved into a new 2,500 SF office in the Associated General Contractors Building at 686 Mariposa St. in Denver.
CONSTRUCTION AND DEVELOPMENT
Las Vegas commercial real estate developer and investment group LaPour Partners Inc. plans to build a three-story flex office space in Broomfield named Arista 36. The campus is expected to be about 360K SF once completed, although no specific tenants have been identified by the developer, BizWest reported.
THIS AND THAT
Colorado Springs City Council on April 11 authorized the use of eminent domain to acquire a commercial parcel of land that is needed to build the Central Bluffs Substation, a project that seeks to improve the city’s electric grid.
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Officials in Fort Collins are planning to open a lodging and food truck park on a 1-acre parcel just outside the city limits, BizWest reported. The plan for the park is to create an incubator that may help spur the development of more hospitality businesses in the city.
