Florida developer bullish on Colorado Boulevard

1190ColoradoAfter buying all the buildings he could find on Colorado Boulevard, a Florida investor is switching to development.

Ira Lang is planning three new retail redevelopments at 915 S. Colorado Blvd., 1190 S. Colorado Blvd. and 2865 S. Colorado Blvd.

Gary Glusman, who handles property management for all of Lang’s Denver properties, said he simply ran out of buildings to buy.

“We already own about nine properties on Colorado Boulevard and there was nothing on the market,” Glusman said. “We figured we would buy these, tear them down, build something new and secure our own tenants.”

The property at 2865 S. Colorado Blvd. (a little north of Hampden Avenue) is the first site where Lang has started work. It houses an office building. Lang bought that property for $825,000 in November 2015.

Farther north, Lang is planning 7,030 square feet of new retail space at 915 S. Colorado Blvd. That site used to house BridgeEnglish, a language learning company, which since has moved to a new location on 16th Street downtown. Lang bought that property in February for $3.275 million.

Lang also bought 0.76 acres at 1190 S. Colorado Blvd. (the cross street is Arizona St.) last September for $3.2 million. That site  houses a 52-year-old, 17,706-square-foot office building. That building will be partially demolished and remodeled, according to project architect G3 Architecture’s website. About 40 percent of the building will stay standing.

G3 Architecture is designing all three retail redevelopments. Glusman said 915 S. Colorado Blvd. and 1190 S. Colorado Blvd. are still in the planning stages, but demolition has started at 2865 S. Colorado Blvd.

Both 2865 S. Colorado Blvd. and 915 S. Colorado Blvd. are listed with Legend Partners broker Sam Zaitz, according to the brokerage’s website. Glusman said no retail leases have been signed yet. All three projects will begin construction around the same time.

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