Capstone Land Sales Breaks Land Pricing Record in Denver’s Golden Triangle

DENVER, CO—Capstone Companies has closed the sale of a multi-property assemblage to developer Summit Capital Venture Group. Travis Hodge and Tony Bobay of the Capstone Colorado Land Team represented the sellers at 1158 Delaware St and 328 W 12th Ave and sourced the buyer. With the help of Capstone’s collaborative efforts, the developer was able to amass additional parcels, turning an improbable four-property assemblage into a reality.

The 31,250 sq ft assemblage traded for a combined price of $11,700,000 setting a new price per sq ft high-water mark for land sales in the Golden Triangle at $374.

“With the current focus on the redevelopment of the Golden Triangle area, this was an ideal opportunity to launch a partnership with Rockefeller Group,” said Jason Marcotte, a founding partner at Summit Capital Venture Group. “We are excited to further enrich the neighborhood with quality housing options and thoughtful retail activation at the street level.”

Denver-based Summit Capital Venture Group, in partnership with New York-based Rockefeller Group, plans to demolish the existing buildings and construct a 13-story, 250-unit mixed-use apartment with 2,000 sq ft of ground-floor retail space.

“Capstone Companies has been a great resource for us throughout this process bringing in a great buyer, keeping the deal on track, and creatively solving issues that arose” said Henry Lustig, Seller of 328 W 12th & 1158 Delaware.

The assemblage is located at the intersection of 12th Ave and Delaware St in the heart of the Golden Triangle. The site is a walker’s paradise surrounded by a plethora of shops, restaurants, and entertainment. With quick access to Downtown, Broadway, Cherry Creek Trail, the Convention Center, Auraria Campus, and more, this is a true live-work-play environment ideal for this exciting new mixed-use development.

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