SEC of Union Blvd & E 6th Ave, Lakewood, CO

The Bend at Lakewood

描述

JLL, as the exclusive advisor to Lincoln Property Company (“LPC”), presents The Bend at Lakewood, a 59-acre entitled land parcel. We are seeking qualified purchasers who are looking to acquire the entire site as-is.

The Bend at Lakewood represents a groundbreaking suburban development opportunity in core Lakewood, adjacent to Golden, offering one of the Denver metro areas largest development opportunities. This 59-acre site seamlessly integrates a mixed-use retail and residential center with adjacent public transit access along RTD’s Federal Center Station, offering residents easy access to the city, employment nodes, the airport, and more. Built up across seven development sites, the project envisions a community of ± 2,150 residential units and up to ± 100,000 square feet of ground level retail and commercial. The master-plan will be delivered in two phases: South and North.

The Bend at Lakewood is set to become a vibrant mixed-use community positioned next door to two major employment centers in the Denver Federal Center and St. Anthony Hospital. The site enjoys prominent visibility sitting alongside West 6th Ave, which has an average daily traffic count of 98,000 vehicles. The location benefits from its adjacent access to Golden without the burden of their development fees and entitlement challenges. Lakewood continues to be a challenging municipality, creating barriers of entry for other developers, highlighting the opportunity to deliver multifamily product in a supply-constrained submarket. A development agreement has been approved, securing all entitlement rights, open space agreements, water and sewer agreements, and affordable requirements.

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投資亮點

SUBURBAN TOD LOCATION

The Bend at Lakewood is situated adjacent to the Federal Center Station which features full service from the Jefferson County Government Center in Golden, to Empower Field at Mile High, Ball Arena, and Union Station via the W Line. Additionally, the property sits along US-6 with quick access to I-70, allowing residents ease of access to all of Colorado’s outdoor amenities.

ROBUST HISTORICAL RENT GROWTH AND TIGHT VACANCY SUBMARKET

The Lakewood/West Denver submarket has experienced a ~32% rent growth since 2018 and has averaged a 5.15% stabilized vacancy factor over that same time frame.

PROXIMITY TO MAJOR EMPLOYMENT NODES

The Bend at Lakewood provides ease of access to major employment hubs surrounding Denver and Golden. The property is within walking distance to both the Denver Federal Center and CommonSpirit St. Anthony Hospital, a 15-minute drive to downtown Denver and Golden, and a 20-minute drive to the Denver Tech Center.

AFFLUENT DEMOGRAPHIC LOCATION

Median home values within a 3-mile radius of the property are in excess of $720K with average household incomes above $130K. This elevated cost of for-sale housing in the area continues to promote the growing sentiment of “renting for longer” allowing for significant future rental pricing power.