This Week's Denver Deal Sheet
A 148-unit multifamily development opened in Denver’s Globeville neighborhood.
Iota Fox Station at 500 W. 41st Ave. is a transit-orientated development a quarter-mile from the 41st and Fox streets RTD rail station.
According to an announcement from KTGY, the project features micro-units that run from 378 SF to 919 SF. Iota Fox Station’s developer and owner is Denver-based Highland Development Co.
PEOPLE
Heitman announced the appointment of John Mancuso as managing director and head of global sales of the firm’s client service and marketing group. Mancuso has been in this role in an interim capcity since June 2023 and will continue his responsibilities leading Heitman’s global sales initiatives.
Based in Denver, he will report to Senior Managing Director and Global Head of Client Service and Marketing Lewis Ingall.
Before joining Heitman in 2015, Mancuso served as head of private markets research at Russell Investments, overseeing the firm’s private markets investment research practice globally. He also held roles at Meketa Investment Group and Lucent Technologies.
SALES
AZ Opportunity Fund announced the acquisition of 31.7 acres of industrial and retail land in Colorado Springs for the purpose of creating the Colorado Aerospace Business Center, an innovation park with the potential for more than 320K SF of industrial properties.
The price hasn't been announced.
The Cushman & Wakefield Colorado Springs team of Aaron Horn and Heather McKeen and Tyler Smith from the Cushman & Wakefield Denver office have been selected to handle leasing.
LEASES
Dick’s Sporting Goods has signed a new lease for 45K SF at 370 S. Colorado Blvd. in Glendale, according to SullivanHayes Brokerage.
Bed Bath & Beyond previously occupied the retail space but closed in April 2023 after filing for Chapter 11 bankruptcy. The Glendale location will become Dick’s 11th location in the Denver metro area and its closest to downtown, according to the retailer’s website.
John Liprando, a partner at SullivanHayes, represented Dick’s.
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Pinnacle Real Estate Advisors represented landlord Canetti Properties in a lease at 14707 E. Second Ave. in Aurora. The property's new tenant is Paradigm Recovery, which leased 6K SF of office space.
FINANCING
BWE has announced the closing of three financings totaling $47.1M for two affordable multifamily properties and one manufactured housing community in Denver.
BWE's Denver affordable housing team originated the Freddie Mac and Fannie Mae loans on behalf of the borrowers. Ghazy Grijalva, a BWE vice president specializing in manufactured housing, assisted on the manufactured housing deal.
The three properties are Columbine Towers at 1750 S. Federal Blvd., a 77-unit mid-rise modular apartment building to be located at 2639 W. Holden Place, and a preservation deal for the Montevista Comunidad, formerly the Capital City Mobile Home Park, in southwest Denver.
THIS AND THAT
Olive & Finch, the café and restaurant from chef Mary Nguyen, will open a new location inside Denver Union Station early next year.
The company operates its original restaurant at 1552 E. 17th Ave. and a second location in Cherry Creek. It also runs Little Finch, a quick-serve outlet at 1490 16th St.
The Union Station restaurant will take over 1,800 SF formerly occupied by the Snooze A.M. Eatery. Snooze is moving to a larger location inside Union Station later this year.
