Tennyson garage sells for $1.8M; brewery in the works

merkls

VanWest Partners plans to turn Merkl’s on West 38th Avenue into brewery, restaurant and retail space. (Amy DiPierro)

Another developer is trotting onto Tennyson.

VanWest Partners on Tuesday bought an auto garage at the West 38th Avenue entryway onto Tennyson Street.

The developers bought 4437 W. 38th Ave. – which includes an 8,300-square-foot auto garage on the same block as Natural Grocers – for $1.8 million, Denver records show.

Forrest Bassett, VanWest head of commercial leasing, said the group plans to redevelop the 14,000-square-foot site into a retail and restaurant corner called Jameson’s Garage. The project will have three storefronts, including a brewery that has signed a lease on 4,000 square feet.

VanWest has been biding time to close on the property for a while.

“We came across this property over a year ago and had it under contract, but just couldn’t figure out how to solve the parking issue,” Bassett said.

Now the parking puzzle has fallen into place: VanWest will tear down a portion of the old auto shop, repave it and add six spaces on the east side of the lot. It is also banking on foot traffic from Tennyson Street shoppers and residents.

Arrow B Architecture is designing the retail strip. Spectrum is the general contractor.

The deal was a flip for the seller, 4437 W. 38th Avenue LLC, which picked up the property last year for $1.5 million.

This month’s trade cost VanWest $129 per square foot. That’s a bit less than the adjacent Natural Grocers property, which a Kansas-based firm bought in 2015 for $136 per square foot.

VanWest is known for retail rehab projects like 460 Broadway, Five Points Plaza and a warehouse redevelopment at 2200 California St.

The group also is wrapping the corner of Ninth Avenue and Grant Street with ground-floor retail as it revamps a former Denver Public Schools office building into storage space.

merkls

merkls

VanWest Partners plans to turn Merkl’s on West 38th Avenue into brewery, restaurant and retail space. (Amy DiPierro)

Developers are planning three storefronts, including a brewery that has signed a lease on 4,000 square feet.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more information, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

19373

2 Comments

Leave a Reply

Your email address will not be published.