A chunk of a fast-changing Sunnyside corner has sold to a developer with plans on building a new office building and restaurant.
GM Development scooped up a 4,200-square-foot garage just off of Chaffee Park last week for $820,000. His idea is to revamp the industrial building at 4402 Umatilla St. into office space, a restaurant and a retail storefront beginning early next year.
Company co-founder Ben Gearhart told BusinessDen earlier this year that the plan is to keep the building, which currently houses Paul Clark Masonry, but add 3,000 square feet of office space with two retail stalls.
Gearhart then wants to move his own company Capital Works Mortgage, which he co-owns with partner Charles Moore, into the office space. They’ll look to lease the retail space to a restaurant and another retailer.
In a phone interview on Friday, Gearhart said they did not have any finalized leases for the retail space but planned to start construction on the project sometime early next year.
His firm financed the real estate acquisition with a loan from FirstBank, according to Denver city records. The deal also came about four months after the firm sold a plot of land at 3360 W. 38th Ave. in the Highlands, then-owned by the same LLC that bought the Sunnyside site, to a New York-based developer.
The corner of 44th Avenue and Tejon Street, right next to Chaffee Park, may look entirely different a year from now as it did a year ago. A restaurant at the northwest corner, just across the alley from Gearhart’s site, got a new tenant when The Monkey Barrel relocated from Platte Street this year.
And the owners of marijuana brand Sweet Leaf bought an old retail strip across 44th Avenue this spring with plans to potentially relocate their dispensary and redevelop the real estate.
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