The Garrett Companies, a Colorado-based real estate developer, has purchased a 12.6-acre plot in Englewood for $15.14 million and plans to turn it into a 317-unit apartment community.
Named Garrett Park Meadows, the project at 8600 S. Valley Highway will consist of a clubhouse with full amenities and six four-story residential buildings.
Construction on the project is already underway, and the buildings will include a mix of one-, two- and three-bedroom units.
CBRE Executive Vice Presidents Eric Roth and Martin Roth, along with Vice Chairman Chris Cowan, represented the seller, Grace Chapel, in the transaction.
“This site represents one of the strongest locations along the front range and allows for true walkability to restaurants, shopping and public transit, which is rare for a suburban location” said CBRE’s Eric Roth.
At the corner of Interstate 25 and E-470, the land offers access to the County Line Light Rail Station and Park Meadows Mall through a pedestrian footbridge.
Its adjacent location to the Denver Tech Center is also likely to attract tenants who work in the immediate area, according to CBRE.
Founded in 2014, The Garrett Companies develops, builds and manages multifamily projects in 22 states, according to its website. A few of its recently completed projects include The Pendant Southlands, Ara Townhomes & Flats and Rewind at Crest.
Additionally, the company is developing two apartment communities in Longmont and Colorado Springs, with a combined project value of $145 million.
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