DENVER-One of the last large infill development opportunities in the Denver Metro area has been sold to WIP Littleton Village LLC. Approved plans for the former Marathon Oil research facility site at 7400 S. Broadway in Littleton, CO—situated on 77 acres—call for 250,000 square feet of retail and 900 residential units, both single- and multifamily product.
The seller of the facility was Littleton Village LLC and Newmark Grubb Knight Frank secured the buyer and represented the seller.
“We are thrilled that this property will soon be filled with active retail, residential and a great multi-use park, says Littleton Mayor Debbie Brinkman. “This property is centrally located, offers incredible views of the Front Range and is Littleton's largest mixed-use development. WIP Littleton Village LLC is the perfect partner for this project and we are looking forward to working with them.”
While the former Marathon Oil site “is a profound development opportunity, it didn't fit my investment strategy,” says David Richardson, the seller and a petroleum geologist active in drilling, production, and services within the oil and gas industry.
Interest in the development has picked up considerably over the past few months, adds Stephen Roesinger, NGKF senior managing director.
Moving forward on the redevelopment of the site is a huge win for Littleton, adds Kevin McCabe, NGKF executive vice president and regional managing director. “The high demand for the site and the short marketing period of the sale attest to its potential to transform the city. We expect interest and activity to be very high.”
Check back with GlobeSt.com in the next day or so for more on the surge of development here in Denver, with information on an approved 34-story tower.
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