The building at the corner of Walnut and 28th sold last month for $16.6 million. (Matt Geiger/BusinessDen)
The RiNo place where the sausage was made just sold for $17 million.
Late last month, Chicago real estate investment firm Northpond Partners snapped up 2800 Walnut St., which consists of five connected one-story buildings that total 49,000 square feet, for $16.6 million, or $339 a foot. The selling entity was 2800 Walnut Street LLC, managed by Jared Pobre.
The property was once a factory for Gold Star Sausage Co., whose sign still brandishes the building. After undergoing $5 million in renovations to turn the space into an office and retail hub, it traded for $14.9 million in 2018.
Northpond, the buyer, did not respond to a request for comment. Pobre could not be reached for comment.
The buildings sit on nearly an acre at the corner of Walnut and 28th streets. Tenants include Rev’it, which sells motorcycle gear and Parsyl, an insurance provider for cargo on supply chains.
There’s also Design Wright Studios, a furniture store, which sits next to the Artisan Rug Gallery. The gallery – located in the factory’s old storage space – has been there since the building reopened for retail; an employee working the front desk said business was slow when they opened over six years ago, and now the place is really hopping.
Inside the gallery space, old freezer walls from the building’s sausage factory days are exposed. (Matt Geiger/BusinessDen)
Northpond’s website says the property is 73 percent occupied.
Portions of the building date to the 1930s, when Puritan Pie Co. operated at the site. Gold Star Sausage bought the property in the 1950s and added to the structure over the years, per previous BusinessDen reporting.
In 2015, a pair of buyers purchased the property for $4.6 million from Gold Star Sausage, who moved to Nebraska shortly after.
“It being so close to (Denver Central) Market, we realized the opportunity,” Trent Rice, then a broker with NAI Shames Makovsky and one of the buyers, told BusinessDen in 2018.
For buyer Northpond, it’s their second large Denver real estate purchase this year. The group snapped up another hot retail corner at 6th and Broadway in June for $12.2 million. The RiNo and Broadway corners are the only Northpond properties in the state. The firm’s website said it has a portfolio across Chicagoland and Minnesota, as well as down in the Southeast.
The building at the corner of Walnut and 28th sold last month for $16.6 million. (Matt Geiger/BusinessDen)
The RiNo place where the sausage was made just sold for $17 million.
Late last month, Chicago real estate investment firm Northpond Partners snapped up 2800 Walnut St., which consists of five connected one-story buildings that total 49,000 square feet, for $16.6 million, or $339 a foot. The selling entity was 2800 Walnut Street LLC, managed by Jared Pobre.
The property was once a factory for Gold Star Sausage Co., whose sign still brandishes the building. After undergoing $5 million in renovations to turn the space into an office and retail hub, it traded for $14.9 million in 2018.
Northpond, the buyer, did not respond to a request for comment. Pobre could not be reached for comment.
The buildings sit on nearly an acre at the corner of Walnut and 28th streets. Tenants include Rev’it, which sells motorcycle gear and Parsyl, an insurance provider for cargo on supply chains.
There’s also Design Wright Studios, a furniture store, which sits next to the Artisan Rug Gallery. The gallery – located in the factory’s old storage space – has been there since the building reopened for retail; an employee working the front desk said business was slow when they opened over six years ago, and now the place is really hopping.
Inside the gallery space, old freezer walls from the building’s sausage factory days are exposed. (Matt Geiger/BusinessDen)
Northpond’s website says the property is 73 percent occupied.
Portions of the building date to the 1930s, when Puritan Pie Co. operated at the site. Gold Star Sausage bought the property in the 1950s and added to the structure over the years, per previous BusinessDen reporting.
In 2015, a pair of buyers purchased the property for $4.6 million from Gold Star Sausage, who moved to Nebraska shortly after.
“It being so close to (Denver Central) Market, we realized the opportunity,” Trent Rice, then a broker with NAI Shames Makovsky and one of the buyers, told BusinessDen in 2018.
For buyer Northpond, it’s their second large Denver real estate purchase this year. The group snapped up another hot retail corner at 6th and Broadway in June for $12.2 million. The RiNo and Broadway corners are the only Northpond properties in the state. The firm’s website said it has a portfolio across Chicagoland and Minnesota, as well as down in the Southeast.
