Cushman & Wakefield of Colorado is pleased to announce to qualified investors the opportunity to purchase Turf Club. Turf Club enjoys a premium location in the southern metro area with easy access to Denver’s two major employment centers, the Denver Tech Center and Downtown. Over 143,000 people are employed in a 5 mile radius of the property. The Denver Tech Center/SE Suburban corridor is home to major tenants like Great West Life, Oracle, Jeppesen, and CH2MHill. In addition, downtown Denver is easily accessed via Santa Fe Drive and contains over 25 million square feet of office space employing over 120,000 people.
Turf Club’s close proximity to the historical old town district of Littleton provides residents access to the Downtown Littleton light rail station less than a mile to the east of Turf Club. This allows tenants easy access to the entire southwest corridor and downtown Denver and gives residents the ability to work in a major employment center while still enjoying the laid back suburban lifestyle Littleton provides. Turf Club’s location is also near numerous parks, bike paths, lakes, golf courses and open space in Arapahoe and Jefferson County.
The southwest submarket is one of the most prohibitive areas in metropolitan Denver to build new apartments. High utility tap costs, impact fees, and some of Metro Denver’s highest land prices make new development in this submarket an expensive undertaking. There is limited property available for future development between the Foothills and I-25, which has increased land costs and pushed newer development to the east side of Denver. Due to the current Capital Markets environment, financing for new construction is very limited and has ceased to exist for most projects not already out of the ground. Cushman Wakefield Sonnenblick Goldman does not believe construction financing will begin again in Denver for at least 24 months. This creates an opportunity for a large increase in rental rates due to the lag between expected job growth over the next four years and the lack of new product coming online.
Please contact Pat Stucker or Mark Favro at 303-813-6400 to schedule a property tour or to request more information.
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