Capstone has closed the sale of 1158 Delaware Street and 328 W 12th Avenue, an 18,750 sq ft land deal for the sale price of $5,400,000. Travis Hodge and Tony Bobay of Capstone represented the Seller in this transaction. The Buyer in this transaction is Summit Capital Venture Group represented by Jason Marcotte and William Lam.
The properties currently have apartments on them, and they have been owned by the Seller since 1999. The Buyer plans to demolish the buildings and build a new 250-unit mixed-use project with 2,000 sq ft of ground floor retail. This project will be addressed 370 W 12th Ave and includes the adjacent properties at 1150 & 1140 Delaware Street but those are not a part of this transaction.
“We are excited to build upon the fabric of the Golden Triangle neighborhood with the addition of our mixed-use project. From the ground floor retail to our generous rooftop amenities, the experience for future Golden Triangle residents will be unmatched”, said William Lam, Development Manager & Project Lead at Summit Capital Venture Group.
370 W 12th Ave is conveniently located at the intersection of 12th Avenue and Delaware Street. Located in the heart of the Golden Triangle, it is easily accessible to a plethora of shops, restaurants, and other activities. With walkable access to Downtown, Broadway, Cherry Creek Trail, Convention Center, Auraria, and more, it is a true live, work, play development.
To learn more about this project or Summit Capital, please visit their website at: http://summitcvg.com
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About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
