Town Center at Aurora Development Site_Property for Sale

14200 E Alameda Ave, Aurora, CO, 80012, US

Town Center at Aurora Development Site

Description

JLL Capital Markets has been appointed as the exclusive investment advisor for the sale of the Aurora Town Center development site. The Aurora Town Center development site represents a unique suburban development opportunity in core Aurora. Positioned within the Town Center at Aurora, the property currently carries approved entitlements for a 5-story, mixed-use podium style development with 246 multifamily units and 2,000 square feet of retail.

Prospective purchasers are invited to review the opportunity as-is, amend the development plan, or submit a new development plan.

The location sits within an Opportunity Zone, a federal incentive program that encourages long-term private investment by giving investors tax benefits for real estate investment. Positioned within what the Aurora Comprehensive Plan labels an “urban district”, the city envisions a cultural center built upon a pedestrian friendly, office - retail - and residential mixed-use community that surrounds the property. The Aurora Metro Center Station is located directly across the street, providing access to the R Line. This connects to the Denver Tech Center (DTC), Fitzsimons Medical Campus, and Centennial, as well as the broader Denver metropolitan transit network through various connections.

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Investment highlights

SUBURBAN TOD LOCATION: The Aurora Town Center Land is situated adjacent to the Aurora Metro Center Station which features full service from Lone Tree, to Centennial, the DTC, Aurora, Fitzsimmons, and more via the R Line. Additionally, the property sits along I-225 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 East Aurora submarket has experienced a ~28.36% rent growth in the last five years and has averaged a 5.43% stabilized vacancy factor over that same time frame.

BEST-IN-CLASS DEVELOPMENT OPPORTUNITY: The Town Center at Aurora sits adjacently to the mall, providing residents with next-door anchor retail tenant amenities in a transit-friendly environment. Envisioned by the City of Aurora’s comprehensive plan to become an “urban district”, the property sits in the middle of what will become the cultural and economic center of the city, surrounded by retail, residential, and office.

PROXIMATY TO MAJOR EMPLOYMENT NODES: The development site at Aurora Town Center provides ease of access to major employment hubs surrounding Denver. The property is just a 15-minute drive to the Denver Tech Center and just under a 30-minute drive to downtown Denver.

RENTER DEMOGRAPHICS: With over half of Aurora’s population renting their housing, the city has become in demand temporary housing hotspot for the middle-market demographic class. With significant historical rent growth and tight vacancy percentages, the city should sustain strong residential fundamentals for years to come.