The property is just south of RTD’s 41st and Fox Station. (Thomas Gounley)
A lot by a Globeville rail station once considered for an “urban-based Home Depot” has sold to a buyer with different plans.
An entity affiliated with Littleton-based Continental Realty Group paid $12 million this week for the 2.89-acre 805 W. 38th Ave. property, where a construction equipment company once operated a rental shop.
The buyer, who didn’t respond to a request for comment Thursday, plans to build apartments at the site, according to plans submitted to the city. The lot is zoned C-MX-20, allowing mixed-use development up to 20 stories before factoring in any height incentives.
Back in 2019, however, something more unusual was envisioned on the site. A development proposal submitted that fall called for a Home Depot store topped with two towers, one with 320,000 square feet of office space and the other with 180 residences. The towers would have been 14 and 15 stories, counting the store base.
Jason Winkler
“It was going to be a really unique thing,” said Jason Winkler, co-founder of the development firm Q Factor. “They were looking to execute an urban-based Home Depot.”
Winkler said Home Depot initially had the 805 W. 38th Ave. lot under contract, then brought in his firm as a development partner. The parties expanded the project scope to include a lot to the north, which at the time was owned by Denver-based Brue Baukol Capital Partners.
But the tower-topped Home Depot in an area sometimes called “Fox Island” wasn’t meant to be.
“There were some time constraints, and Home Depot was really the driver of the project … Getting the work done in the time that they had was the hard part,” Winkler said.
Winkler, whose firm also developed the Industry coworking buildings in RiNo, said it was the first time his company failed to close on a property it had under contract.
“It’s a shame it didn’t happen because I think it would’ve been a great thing, right there at the light rail station,” he said, referring to RTD’s 41st and Fox station.
Brue Baukol sold its lot to the north in early 2021 for $16 million. Then came this week’s sale of 805 W. 38th Ave. by Aurora-based Wagner Equipment Co for $96 a square foot.
Wagner Executive Vice President Cody Eldridge said the company closed its rental shop at the location about two years ago. The structures on the site have since been demolished.
“I think the area had outgrown us … The highest and best use of the property was not having a rental shop there,” said Wagner, adding the equipment was relocated to Aurora.
Winkler’s Q Factor, which hired former Downtown Denver Partnership head Tami Door as CEO in late 2021, doesn’t have any development projects underway in Denver, although Winkler said the firm is considering opportunities.
Winkler said Q Factor is working on Industry coworking locations in Detroit and Bozeman, Montana. And the firm is doing larger Industry-anchored developments in Salt Lake City and Oklahoma City.
The property is just south of RTD’s 41st and Fox Station. (Thomas Gounley)
A lot by a Globeville rail station once considered for an “urban-based Home Depot” has sold to a buyer with different plans.
An entity affiliated with Littleton-based Continental Realty Group paid $12 million this week for the 2.89-acre 805 W. 38th Ave. property, where a construction equipment company once operated a rental shop.
The buyer, who didn’t respond to a request for comment Thursday, plans to build apartments at the site, according to plans submitted to the city. The lot is zoned C-MX-20, allowing mixed-use development up to 20 stories before factoring in any height incentives.
Back in 2019, however, something more unusual was envisioned on the site. A development proposal submitted that fall called for a Home Depot store topped with two towers, one with 320,000 square feet of office space and the other with 180 residences. The towers would have been 14 and 15 stories, counting the store base.
Jason Winkler
“It was going to be a really unique thing,” said Jason Winkler, co-founder of the development firm Q Factor. “They were looking to execute an urban-based Home Depot.”
Winkler said Home Depot initially had the 805 W. 38th Ave. lot under contract, then brought in his firm as a development partner. The parties expanded the project scope to include a lot to the north, which at the time was owned by Denver-based Brue Baukol Capital Partners.
But the tower-topped Home Depot in an area sometimes called “Fox Island” wasn’t meant to be.
“There were some time constraints, and Home Depot was really the driver of the project … Getting the work done in the time that they had was the hard part,” Winkler said.
Winkler, whose firm also developed the Industry coworking buildings in RiNo, said it was the first time his company failed to close on a property it had under contract.
“It’s a shame it didn’t happen because I think it would’ve been a great thing, right there at the light rail station,” he said, referring to RTD’s 41st and Fox station.
Brue Baukol sold its lot to the north in early 2021 for $16 million. Then came this week’s sale of 805 W. 38th Ave. by Aurora-based Wagner Equipment Co for $96 a square foot.
Wagner Executive Vice President Cody Eldridge said the company closed its rental shop at the location about two years ago. The structures on the site have since been demolished.
“I think the area had outgrown us … The highest and best use of the property was not having a rental shop there,” said Wagner, adding the equipment was relocated to Aurora.
Winkler’s Q Factor, which hired former Downtown Denver Partnership head Tami Door as CEO in late 2021, doesn’t have any development projects underway in Denver, although Winkler said the firm is considering opportunities.
Winkler said Q Factor is working on Industry coworking locations in Detroit and Bozeman, Montana. And the firm is doing larger Industry-anchored developments in Salt Lake City and Oklahoma City.
