The site is just south of Pena Boulevard on the way to DIA. (Courtesy Denver International Airport)
A firm planning to develop a gas station near Denver International Airport wants to nearly double the amount of land it’s leasing.
If approved, the deal would create a second cellphone lot, where those picking someone up from the airport can park and wait. And it would set aside spaces where vehicles rented through companies such as Turo could be stored.
Aaravya Investments LLC previously entered into a 20-year, $6.4 million lease deal with DIA for 3 acres at the northwest corner of 75th Street and Gun Club Avenue. The firm plans to build a gas station and convenience store with a drive-thru component and a roof deck.
On Wednesday, airport staff briefed a Denver City Council committee on a proposed amendment to the original lease.
A rendering from 2023 showing Aaravya Investments’ original plans for the site. (City documents)
Aaravya wants to lease an additional 2.5 acres, bringing its total land leased to 5.5 acres. It would pay an additional $5.3 million during the 20-year lease, bringing the total deal to $11.7 million over that time period, with options to extend.
The extra land would in part allow for the addition of a car wash and “improved circulation” within the gas station area, according to city documents.
But the bulk of the additional land — about 1.7 acres — would be gated and have about 250 spaces set aside for peer-to-peer car rental companies such as Turo. Currently, vehicles rented through the companies can be left and picked up in the garage and surface parking lots closest to the terminal, according to DIA’s website.
Aaravya would also be responsible for constructing an additional connected 1-acre parking lot, which would be the cellphone waiting lot. That land would not be part of the lease. The airport’s existing cell phone lot is to the north on the other side of Pena Boulevard, where there’s a gas station and food court.
“There are times that we’re just at capacity at that lot on the north side,” Ken Cope, Denver’s senior vice president for real estate development, told council members.
Cope said that Aaravya will spend at least $6 million to develop the site.
Aaravya’s existing lease also specifies that the company pay the airport about 5 percent of its retail sales, and between 3 cents and 6 cents for every gallon of fuel sold, depending on volume. If the amendment is approved, Aaravya would also get a cut of the airport’s peer-to-peer rental revenue.
The council committee on Wednesday forwarded the proposed lease amendment to the full council, which will vote on it in the coming weeks.
The site is just south of Pena Boulevard on the way to DIA. (Courtesy Denver International Airport)
A firm planning to develop a gas station near Denver International Airport wants to nearly double the amount of land it’s leasing.
If approved, the deal would create a second cellphone lot, where those picking someone up from the airport can park and wait. And it would set aside spaces where vehicles rented through companies such as Turo could be stored.
Aaravya Investments LLC previously entered into a 20-year, $6.4 million lease deal with DIA for 3 acres at the northwest corner of 75th Street and Gun Club Avenue. The firm plans to build a gas station and convenience store with a drive-thru component and a roof deck.
On Wednesday, airport staff briefed a Denver City Council committee on a proposed amendment to the original lease.
A rendering from 2023 showing Aaravya Investments’ original plans for the site. (City documents)
Aaravya wants to lease an additional 2.5 acres, bringing its total land leased to 5.5 acres. It would pay an additional $5.3 million during the 20-year lease, bringing the total deal to $11.7 million over that time period, with options to extend.
The extra land would in part allow for the addition of a car wash and “improved circulation” within the gas station area, according to city documents.
But the bulk of the additional land — about 1.7 acres — would be gated and have about 250 spaces set aside for peer-to-peer car rental companies such as Turo. Currently, vehicles rented through the companies can be left and picked up in the garage and surface parking lots closest to the terminal, according to DIA’s website.
Aaravya would also be responsible for constructing an additional connected 1-acre parking lot, which would be the cellphone waiting lot. That land would not be part of the lease. The airport’s existing cell phone lot is to the north on the other side of Pena Boulevard, where there’s a gas station and food court.
“There are times that we’re just at capacity at that lot on the north side,” Ken Cope, Denver’s senior vice president for real estate development, told council members.
Cope said that Aaravya will spend at least $6 million to develop the site.
Aaravya’s existing lease also specifies that the company pay the airport about 5 percent of its retail sales, and between 3 cents and 6 cents for every gallon of fuel sold, depending on volume. If the amendment is approved, Aaravya would also get a cut of the airport’s peer-to-peer rental revenue.
The council committee on Wednesday forwarded the proposed lease amendment to the full council, which will vote on it in the coming weeks.
