Succeeding in Colorado’s restaurant scene is like a giant Mexican or Chinese restaurant menu with multiple columns of delicious choices. And whenever and wherever these combined options are available, they can lead to a fantastic, savory and sweet business journey.
The Ofpers Partners sold the Parkway Center in Breckenridge, home to the City Market grocery store, on April 25 for $49 million. The Kroger Co., the parent company of City Market, partnered with the Denver-based Kentro Group to buy the center. They plan to renovate the grocery store and honor the current leases for the businesses in the center.
If we were sitting with an astrologer, trying to learn more about the future of retail, we might see that a new moon is rising in our favor. Fortunately, we have the benefit of solid, contemporary data that speaks more clearly: Retail real estate is having a moment.
Though it might feel like a century has passed, the Federal Reserve’s rate hike policies began only in March 2022. As you read this article, the Fed just raised rates for an 11th time, lifting benchmark borrowing costs to their highest level in more than 22 years. Officials gave little indication of the course they might take at their next meeting in September. The effects on CRE transactions are clear. The cost of capital and uncertainty around property valuations have become giant hurdles.
After buying a one-story office building in Capitol Hill in December, a development firm wants to tear it down and build affordable housing units. Denver-based Kentro Group purchased 1001 N. Lincoln St. from Gart Properties in December for $4.5 million.
What used to be old, dilapidated buildings housing the Colorado Department of Transportation in Virginia Village will now host a park, a supermarket and affordable housing.
Kentro Group and Lexton McDermott broke ground on the old CDOT headquarters a few blocks north of I-25 and Colorado on Wednesday to make way for a housing project that’s been in the works since 2018.
The City of Denver celebrated the groundbreaking of a new affordable housing project on Wednesday.
The Kentro Group and Lexton McDermott broke ground on the Krisana Apartments located on the former Colorado Department of Transportation headquarters site in Denver’s Virginia Village neighborhood. The complex features 151 units of affordable housing.
Kentro Group, a Denver-based real estate developer offering all aspects of retail real estate, acquisitions, development, finance, leasing and select property management, has acquired ±24 acres of land on two adjacent parcels in Loveland. The developer plans to construct a new residential project on the property.
Located at the southwest corner of Highway 402 and Roosevelt Ave, the pair of parcels sold in separate transactions for a combined $1.6 million.
Denver-based Kentro Group submitted redevelopment plans to the city this week for 825 S. Colorado Blvd., a 6.4-acre site in the Belcaro neighborhood that features a strip mall anchored by the grocer and two stand-alone buildings.
A brutalist office building along Lincoln Street that has been used sporadically in recent years has changed hands. Denver-based Gart Properties, the real estate firm that grew out of a sporting goods chain, sold the 1001 Lincoln St. building earlier this week for $4.5 million, according to public records. The 18,500-square-foot structure sits on a 0.53-acre lot. The buyer was Kentro Group, a Denver-based development firm. A Kentro representative said the company is still determining its plans for the property.
CDOT is out, and King Soopers is in.
The grocery store chain plans to open a store at 4201 E. Arkansas Ave., a large site along Colorado Boulevard in the Virginia Village neighborhood where the state transportation department once had its headquarters.
A new affordable senior living community has begun construction in Denver’s Virginia Village neighborhood through a joint venture between local real estate development firms Lexton McDermott and Kentro Group.
The Denver-based Kentro Group intends to buy and rehabilitate the nearly 90,000-square-foot downtown Omaha complex that the international Scoular grain company occupied before it moved to west Omaha.
Viscardi said this portion of the project is focusing on the affordable units, which will be a mix of studios, one- and two-bedrooms and will be available for those making 60 percent of the area median income or less. “The affordable housing portion is absolutely critical not only to the Denver market but as part of our project,” Viscardi said. “We’re really happy we got selected on the tax credit deal.”
Renovations and upgrades are underway at the Summit Place shopping center in Silverthorne, where progress is being made toward opening the new T.J. Maxx and Sierra stores.