CBRE announced the sale of the Johnson & Wales University (JWU) campus in Denver to Urban Land Conservancy (ULC). The Denver-based nonprofit is acquiring the campus located in Denver’s South Park Hill area for an undisclosed sum.
CBRE’s Higher Education Specialist Nina Farrell and Karlen Beitman, of CBRE’s Public Institutions and Education Solutions (PIES) group, represented JWU in the sale, along with Martin Roth and Eric Roth of CBRE’s Land Services and Capital Markets platforms.
Located at the southwest corner of Montview Boulevard and Quebec Street, the campus includes 13 buildings on approximately 25 acres. JWU placed the property on the market last fall, announcing it would seek out buyers committed to implementing the property’s highest and best use and providing a benefit to the surrounding community.
“We are pleased that the buyer is a community-based organization with a rich legacy of preserving and reimagining campuses throughout the Denver metro area. ULC’s mission-driven focus was apparent by its ability to immediately partner with the Denver Housing Authority, Denver Public Schools, and St. Elizabeth’s School on key components of the campus,” said Joseph Greene, vice chancellor of finance and administration at Johnson & Wales University.
ULC is a nonprofit organization dedicated to using real estate as a tool to benefit urban communities. Its mission is to acquire, develop, and/or preserve community assets in urban areas for a variety of community needs, such as schools, affordable housing, and office space for nonprofits.
“As the only nonprofit organization to submit a proposal, ULC is most grateful to have been selected. It shows a true commitment on JWU’s part to preserving the campus and ensuring it continues to benefit the community for many years to come,” said Aaron Miripol, President and CEO of Urban Land Conservancy. “We operated on a very rapid timetable to make this happen, and I appreciate how CBRE and JWU worked with us through that.”
Denver Public Schools has purchased the west side of the campus from ULC, which includes four buildings. Their plan is to expand Denver School of the Arts, a magnet school located on Montview Boulevard directly across from the campus. The expansion would allow the school to increase its enrollment, adding between 600 and 800 students.
The Denver Housing Authority has acquired the south parcel on the campus with goals for providing senior housing.
JWU acquired the first portion of the Denver campus in 1999 and welcomed its inaugural class in 2000. The site was formerly home to Colorado Women’s College.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
