DENVER, CO – [December 28, 2023] – Blue West Capital has completed the sale of a redevelopment property located at 494 Sheridan Boulevard in Denver, CO for $2,126,000. Brandon Gayeski, of Blue West Capital, represented both the seller and purchaser in the transaction. The seller was a local private investor. The purchaser was a Denver-based developer and a repeat client.
The property is currently an office building leased to 17 tenants. All the tenants are on month-to-month leases or have favorable redevelopment language in their leases. The property is located at the southeast corner of the heavily trafficked signalized intersection of Sheridan Boulevard & 5th Avenue with traffic counts exceeding 55,000 vehicles per day. Situated four miles southwest of Downtown Denver, this infill property is surrounded by a densely populated area with over 175,000 people living within a three-mile radius.
Properties strategically located at signalized intersections along major thoroughfares in the Denver Metro, such as Sheridan Boulevard, are highly sought after amongst developers seeking infill redevelopment opportunities. These sites can command aggressive pricing, providing property owners with a unique opportunity to realize substantial appreciation.
The buyer was actively engaged with a national tenant exploring a location in this specific trade area. In contributing to the facilitation of this off-market deal, it successfully went under contract in late 2021. Overcoming challenges posed by the city related to a land use change and meticulously managing tenant leases for post-closing redevelopment required a collective effort from all parties. The collaborative work of everyone involved in navigating these challenges ultimately led to the successful closing of the property.
Brandon Gayeski, Director
PR Contact
Brandon Gayeski
(720) 966-1627
Brandon@BlueWestCapital.com
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