Avison Young brokers sale of 2.26-acre site in Lone Tree, CO6 Feb 2019
Property to be developed as a Kiddie Academy child care center
Denver, CO – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has negotiated the sale of the last 2.26-acre site located within the ParkRidge Corporate Center in Lone Tree, CO.
Avison Young Principal Rick Egitto represented the seller in the transaction. Denver United Land, LLC sold the site for $1.25 million to Woodmont Land Company. Woodmont has developed several projects in the area and is planning to develop this site into a Kiddie Academy day care, which will be built and opened for business later this year.
Located at the northwest corner of Lincoln Avenue and Interstate 25 along Park Meadows Drive, the 75-acre, 800,000 square foot ParkRidge Corporate Center is now completely built out and features a superior mix of office product, multi-family units and retail amenities situated adjacent to the Lincoln Light Rail Line between Sky Ridge Medical Center and Kaiser Permanente’s South Campus in the south Denver suburb of Lone Tree.
“This was an opportunity to bring an additional amenity, child care, to the area,” comments Egitto. “The new Kiddie Academy day care location will serve the corporate center’s occupants and the surrounding residential community,” comments Egitto.
“The sale of this last site in ParkRidge Corporate Center ends my firm’s very successful 15-year run investing in Lone Tree commercial real estate, states Robert Hess, Principal of Denver United Land. “We look forward to finding more commercial real estate investment opportunities nearby.”
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.