Pepsi’s bottling facility on 30 acres in RiNo has sold for $158 million.
Stoltz Real Estate Partners, which is headquartered in the Philadelphia area, purchased the property at 3801 Brighton Blvd. on Friday, according to public records.
The deal works out to about $5.3 million an acre, or $120 a square foot.
BusinessDen reported on Thursday that a sale to Stoltz was expected by the end of the week. CBRE started marketing the property for sale in mid-2021.
Stoltz didn’t respond to requests for comment over the weekend, or prior to the closing. A spokeswoman for New York-based PepsiCo, which has operated at the site since the 1950s, declined to comment.
The site will ultimately be redeveloped, although no specific plans have been submitted to the city, and Pepsi is expected to keep operating in RiNo until the company completes a new facility near Denver International Airport. Construction on that facility has yet to begin.
Stoltz is familiar with the Denver market, although it has generally bought existing buildings rather than spearheaded the building of new ones. The company’s local holdings include the structures at 1900 Wazee St., 1801 Lawrence St. and 1860 Blake St. downtown, as well as the office building at 155 S. Madison St. in Cherry Creek.