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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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
