Investor adds $3M to Colorado Boulevard portfolio

Florida-based investor Ira Lang paid $3.3 million for a Glendale retail building occupied by Subway, Great Clips and a forthcoming Relax the Back store. (Burl Rolett)

Florida-based investor Ira Lang paid $3.3 million for a Glendale retail building occupied by Subway, Great Clips and a forthcoming Relax the Back store. (Burl Rolett)

Colorado Boulevard is still in the crosshairs for an out-of-state buyer with an appetite for Denver retail space.

Florida-based investor Ira Lang has bolstered his growing Colorado Boulevard portfolio by paying $3.3 million for a Glendale retail building this week. His most recent acquisition is a three-tenant building with a Subway, Great Clips and a forthcoming Relax the Back store.

“It has a good little tenant mix,” said Gary Glusman, who manages properties for Lang. “We were mostly concentrating on single-tenant, net-leased properties, but Colorado Boulevard is a great area and this three-tenant building became available.”

The building sits at 320 S. Colorado Blvd., near the corner of Colorado and Alameda and just on the edge of the Denver-Glendale line. Arapahoe County real estate records list it as a 5,280-square-foot building built in 1996. Sellers Kirchhof Family Enterprises, LLC bought the property for $1.345 million in 2007.

The sandwich shop and barber shop are open for business at 320 S. Colorado Blvd., but retailer Relax the Back is in the middle of building their store. That company sells products like chairs, pillows, recliners and mattresses that are easy on the back.

It’s a franchised store that has two current Colorado locations in Lone Tree and Colorado Springs, according to the Relax the Back website.

Meanwhile Lang is planning at least three redevelopment projects on Colorado Boulevard because, as Glusman told BusinessDen earlier this year, they ran out of finished retail buildings to buy on the busy Denver street.

Lang is redeveloping a former office property at 2865 S. Colorado Blvd.; another vacated office site at 915 S. Colorado Blvd.; and remodeling another 17,706-square-foot office building at 1190 S. Colorado Blvd. near Colorado Boulevard and Arizona Avenue.

Lang’s companies now have about 10 retail properties on Colorado Boulevard, including the property that houses Chipotle and a new Cheba Hut near Eighth Avenue and Colorado Boulevard.

Florida-based investor Ira Lang paid $3.3 million for a Glendale retail building occupied by Subway, Great Clips and a forthcoming Relax the Back store. (Burl Rolett)

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