Car seller Carvana has closed on the purchase of land in Denver where the company will build one of its “car vending machines.”
The company paid $5.8 million last week for the 4700 E. Evans Ave. parcel, according to public records.
The parcel is 66,528 square feet, or 1.53 acres, making the deal worth about $87 a square foot.
The property, which is next to Interstate 25, was sold by Denver-based Focus Property Group, led by CEO Bahman Shafa. The company once wanted to build a self-storage facility at the site.
The Denver City Council voted 10-3 in March to rezone the property at Carvana’s request. The Arizona-based company plans to construct a one-story office/showroom building, which will be partially topped with a seven-level glass tower displaying vehicles.
Customers who purchase a car through Carvana can opt to pick it up at the vending machine, which is essentially an automated parking lift that is activated by the insertion of a custom coin. The company also offers home delivery in many markets, including Denver.
Carvana didn’t respond to a request for comment regarding its timeline for constructing the Denver tower.
The company has already built 24 towers around the country. The closest to Denver are in Kansas City and Oklahoma City.
Focus, meanwhile, is making a push into the apartment sector. So far this year, it’s submitted development plans for lots in LoHi and RiNo.