Trax at Ward Station

FOR SALE | DEVELOPMENT OPPORTUNITY | TRAX AT WARD STATION

2.978 ACRES | ZONED UP TO 280 UNITS | UP TO SIX STORIES

PAT HENRY Principal BOSTON WEIR Principal FOSTER GILLIS Associate Broker O: 303.327.9752 | M: 303.548.3693 O: 303.327.9753 | M: 952.412.0034 O: 303.625.7444 | M: 443.602.5298 [email protected] [email protected] [email protected] PROPERTY SUMMARY

OFFERING

11818 W. 52nd Avenue Address Wheat Ridge, Colorado 80033

Acres 2.978

Zoning MU-C TOD with a Concept Plan in Place

Price $4,500,000 ($20,000 a door based on 225 Units)

HRE Group LLC is pleased to offer 2.978-acre TOD Multi-Family and Townhome INVESTMENT HIGHLIGHTS site that is zoned MU-C TOD. A Concept Plan was approved for 280 multi-family units or 60 Townhomes. Additionally, the zone district permits a wide range of • Concept Plan in Place for 280 Multi-Family Units or 80 Townhomes land uses. The property is best suited for apartments being situated adjacent • Last step of Entitlement process is a Site Plan Review Approval from the City to the last stop of the newly completed Gold Line. The G-Line brings RTD train of Wheat Ridge is a “Administrative Only” Process service through northwest Denver, Adams County, Arvada and ends at this stop in Wheat Ridge. This is not a Light Rail line but rather a high-speed commuter • Directly Adjacent to G-Line Commuter Platform rail that travels up to 79 mph and each train carries 170 people. The service runs every 15 minutes during peak hours to downtown Denver at Union Station. The • Great Access to Mountains and Denver Central Business District 11.2-mile line is scheduled to open late this winter. In addition to rail, the property • Panoramic Views is well located with easy access to I-70 east and west bound. • Last Stop on G-Line For Further Information Call Pat Henry at 303.625.7444. • Up to 6 Story Building Height Zoning

TRAX AT WARD STATION PROPERTY SUMMARY WHEAT RIDGE, COLORADO 80033 2

PROPERTY AERIAL WARD RD. WARD

W. 52ND AVE. Remington TRAX AT WARD STATION Homes 63 Townhomes

The Ridge at Ward Station (Toll Brothers New Construction) W. 49TH PL. Gold Line Station (Wheat Ridge Ward Station)

INTERSTATE 70

Kaiser Permanente Wheat Ridge Medical Offices

TRAX AT WARD STATION PROPERTY AERIAL WHEAT RIDGE, COLORADO 80033 3 SITE PLAN

FUTURE REMINGTON TOWN HOMES

AVAILABLE PROPERTY TRAX AT WARD STATION MU-C TOD

CONCEPT PLAN DATA FOR MULTI-FAMILY CONCEPT PLAN DATA FOR TOWNHOMES 2.9780 Acres 2.9780 Acres Lot Area Lot Area 129,721.68 SF 129,721.68 SF Density 94.02 DU/AC Max Density 20.15 DU/AC Max Gross SF of Buildings 210,000 SF Gross SF of Buildings 190,000 SF Building Height 90 Ft. Max Building Height 90 Ft. Max Number of Units 280 Number of Units 60 Open Space Coverage 15% Open Space Coverage 15% 1 Space per 1 Bed 120 Spaces / 2 Spaces per Unit On-street parking along 51st will be On-street parking along 51st will be Parking Counts/Ratios included in the total required spaces Parking Counts/Ratios included in the total required spaces Parking spaces will also be provided Parking spaces will also be provided within building footprint within building footprint

TRAX AT WARD STATION SITE PLAN WHEAT RIDGE, COLORADO 80033 4 RTD MAP

RTD G LINE HIGHLIGHTS • $3.00 Fare Local • 27 Minutes to Downtown Denver • 15-30 Minutes Frequent Service All Day • 8 Stations and 7 Park-n-Rides • 2,300 Parking Spaces for Commuters & Travelers

TRAX AT WARD STATION RTD MAP WHEAT RIDGE, COLORADO 80033 5 NEW CONSTRUCTION

New construction around Ward Station is centered around a tranquil neighborhood park and adjacent to RTD's Ward Station with direct access into downtown Denver, Denver International Airport, and Olde Town Arvada.

TOLL BROTHERS NEW CONSTRUCTION REMINGTON TOWN HOMES • 190 Townhome Units plus neighborhood retail on Ward Road • 63 Townhomes • Only 20 minutes to downtown Denver and 40 minutes to Denver • Delivered to the market next fall International Airport via. RTD’s G Line commuter train – walking distance to the adjacent Ward Station • Prices starting in the low $400’s • 15 minutes to the foothills of the Rocky Mountains, Red Rocks Amphitheatre, • Within the exceptional Jefferson County School District, one of the top school and several regional state parks including; Stanley Lake, Pattridge Open districts in all of Colorado Space, North Table Mountain, Green Mountain, and Coal Creek Canyon • Enjoy boutique shopping, dining, brew pubs, and a variety of entertainment in nearby Olde Town Arvada • Five townhome home designs from 1,650 - 2,050 square feet all featuring attached 2-car garages • Prices starting in the low $400’s

TRAX AT WARD STATION NEW CONSTRUCTION WHEAT RIDGE, COLORADO 80033 6 NEIGHBORHOOD OVERVIEW

SCHOOLS AND EDUCATION AMENITIES IN WHEAT RIDGE Schools within a three-mile radius include Drake Middle School, Vanderhoof • 300 Open Space Spaces Elementary School, and Arvada West High School. Higher education centers are 7 to 25 miles away from the subject and include Regis University, the • 7 Trail Miles Community College of Denver, University of Colorado in Denver and • 20 Parks (173 acres) Metropolitan State University. A high proportion of the students commute, so the Gold Rail will be appealing draw to the subject’s location • 69,000 Square Foot Recreation Center • Outdoor Aquatics Facility • Community Gardens • 8 Public Art Display Locations

TRAX AT WARD STATION NEIGHBORHOOD OVERVIEW WHEAT RIDGE, COLORADO 80033 7 SUBMARKET OVERVIEW

NORTH JEFFERSON COUNTY SUBMARKET The North Jefferson County Submarket runs from Arvada in the sourtheast to Westminster (east of Sheridan Boulevard in the) in the north, and out to Golden at its southwestern extreme. The G Line, an 11.2-mile, eight-station expansion of Denver’s light rail network, finally opened in April 2019. Several delays during the testing phase had pushed back an initial 2016 planned opening. Parts of the submarket are in the midst of noteworthy revitalzation efforts, including the up-and coming Olde Town Arvada neighborhood and the downtown Westminster redevelopment area in the submarket’s northwest. Much of North Jefferson’s recent development can be described as a preemptive play to capitalize on the Gold Line light rail extension. Park Place Olde Town delivered in 15Q4 and is right next door to the future Olde Town light rail station. One block east of Park Place, the first 48 units at the 352-unit Solana Olde Town development delivered in June 2017, and construction wrapped up during the first half of 2018. Separately, several major developments have made their way to Westminster, including the 374-unit Sync36 apartments. In April 2018, North Jefferson County joined an expanding roster of Denver submarkets that have experienced $100 million-plus single-asset trades. MAA, a REIT based out of Memphis, TN, acquired the 376-unit Sync36 apartments for $108.8 million ($291,000/unit) while the property was in the latter stages of its lease-up.

TRAX AT WARD STATION SUBMARKET OVERVIEW WHEAT RIDGE, COLORADO 80033 8 DEMOGRAPHIC OVERVIEW

Population in the area surrounding the subject has been growing and is expected to continue doing so. Educational levels within a one-mile radius are like Wheat Ridge overall, and slightly lower than the Jefferson County average. Household income levels in a one-mile radius are higher than Wheat Ridge, and like the Jefferson County average. Median owner-occupied home values in a one-mile radius are higher than the Wheat Ridge and Jefferson County averages. The percentage of renters within a open-mile radius of the subject is currently 40.6%, which is slightly lower than seen in Wheat Ridge, but higher than the Jefferson County Average.

POPULATION AVERAGE AGE MEDIAN HH INCOME

16,928 39 $51,951

POPULATION 1 MILE 3 MILE 5 MILE 2019 Population 16,928 104,794 299,000 2024 Population 17,745 108,722 313,159 Population Growth 2019-2024 4.8% 3.8% 4.7% 2019 Average Age 39 41 40 HOUSEHOLDS 2019 Households 7,489 45,298 126,683 2024 Households 7,836 47,010 132,696 Household Growth 2019-2024 4.6% 3.8% 4.8% Median Household Income $51,951 $62,643 $64,665 Median Household Size 2.2 2.3 2.3 Median Household Vehicles 2 2 2 HOUSING Median Home Value $276,911 $335,122 $351,786 Median Year Built 1972 1969 1971

TRAX AT WARD STATION DEMOGRAPHIC OVERVIEW WHEAT RIDGE, COLORADO 80033 9 DENVER, COLORADO

CITY AND COUNTY OF DENVER LARGEST EMPLOYERS

EMPLOYER EMPLOYEES

Denver Public School District #1 12,924

City and County of Denver 10,781

State of Colorado Central Payroll 9,588

Denver Health & Hospital Authority 6,541

United Airlines, Inc. 5,777

Downtown Denver CHC Payroll Agent, Inc. (HCA Health One) 4,196

Denver is the capital and most populous municipality of Colorado, as well as the county seat University of Denver 3,866 of Denver County. Denver is located in the South Platte River Valley on the western edge of the U.S.D.A. National Finance Center 3,852 High Plains just east of the Front Range of the Rocky Mountains. The Denver downtown district is immediately east of the confluence of Cherry Creek with the South Platte River, approximately Defense Civilian Pay System 3,323 12 miles east of the foothills of the Rocky Mountains. The 10-county Denver-Aurora-Lakewood, CO Metropolitan Statistical Area is the 19th most populous U.S. metropolitan statistical area, University of Colorado Central 3,317 while the broader 12-county Denver-Aurora, CO Combined Statistical Area has an estimated population of more than 3.4 million residents and is the 16th Frontier Airlines Inc. N/A most populous U.S. metropolitan area. This bustling metropolis, one of the fastest growing in the U.S., is widely recognized for its exceptional balance of a thriving economy, healthy lifestyle and urban, as well natural, amenities. The Denver region’s economy is centralized around nine major clusters; aerospace, aviation, beverage production, bioscience, broadcasting Sources: Greystone Research, US Census Bureau, US Bureau of and telecommunications, financial services, energy, health care, and information technology. Labor, Wikipedia, CoStar Analytics, Google Maps, Denver.org, Denver Ranked No. 3 on U.S. News & World Report’s list of the country’s “100 Best Places to Metro Denver Economic Development Corp., City of Denver, Live”, 2019 based on affordability, job prospects, and quality of life. In a 2019 WalletHub study, Colorado Association of Realtors. Denver was ranked among the “Top 15 Cities to Live in With Populations Over 300,000.”

TRAX AT WARD STATION DENVER, COLORADO WHEAT RIDGE, COLORADO 80033 10 INVESTMENT CONTACT

Pat Henry Principal | HRE Group, LLC 303.625.7444 [email protected] 303.625.7444 [email protected] Boston Weir Principal | HRE Group, LLC Mailing Address: 952.412.0034 303 South Broadway [email protected] Suite 200-360 Denver, Colorado 80209

Foster Gillis Physical Address: Associate Broker | HRE Group, LLC 55 Adams Street 303.542.7220 Suite 200 [email protected] Denver, Colorado 80206

CONFIDENTIALITY AGREEMENT & DISCLAIMER

HRE Group, LLC has prepared the following Offering Memorandum, which contains select information pertaining to accordance with this Agreement; the business and financial operation of the Property and its Owner. This Offering Memorandum is not all-inclusive, 3. Purchaser will not use the Information for any purpose other than to evaluate Purchaser’s potential acquisition nor does it contain all information that may be required by a prospective purchaser. Neither the Owner, HRE Group, of the Property; nor Owner’s or HRE Group’s respective officers, employees, or agents make any representation or warranty, express 4. Purchaser shall not copy or otherwise duplicate any of the Information, and agrees to return upon demand or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents, any information of Owner or HRE Group all Information and destroy any extracts, analyses, summaries, or other documents as defined below or the condition of the Property, and no legal liability is assumed or shall be implied with respect prepared from or based upon the Information; thereto. Purchaser(s) and / or Purchaser’s Agent(s) (“You”) will only be able to rely upon those representations and 5. You and your agents are not entering into a co-broke agreement with HRE Group; and warranties contained in any final agreement entered into between You and Owner relating to the purchase and sale 6. The Property and improvements described in this Offering Memorandum are being offered for sale on an “As of the Property. Is, Where Is” basis without representations or warranties.

By acknowledging and accepting the receipt of this Offering Memorandum, You hereby agree: The Owner and HRE Group reserve the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any entity or person reviewing this 1. The Offering Memorandum and its contents, and all other information supplied to you, in any manner, by Offering Memorandum or Information making an offer to the purchase the Property until a written agreement for Owner and/or HRE Group (collectively the “information”) are confidential; the purchase of the Property has been fully executed. 2. You and your shareholders, members, directors, officers, employees, agents and representatives (collectively “Purchaser”) will keep the information confidential, and will not disclose or otherwise divulge or permit anyone If you do not wish to pursue negotiations leading to the potential acquisition of this Property, or if in the future you else to disclose or otherwise divulge any of the information in any manner to any other individual, entity or discontinue such negotiations, then you agree to return this Offering Memorandum to HRE Group This Offering party. Notwithstanding the foregoing, Purchaser may disclose such information to Purchaser’s shareholders, Memorandum shall not be deemed to represent the state of the affairs of the Property or constitute an indication members, directors, officers, employees, agents and representatives who need to know such information in that there has been no change in the state of the affairs of the Property since the date this Offering Memorandum connection with the possible acquisition of the Property, provided that such shareholders, members, directors, was prepared. officers, employees, agents and representatives agree to maintain the confidentiality of the Information in

TRAX AT WARD STATION INVESTMENT CONTACT WHEAT RIDGE, COLORADO 80033 11 FOR SALE | DEVELOPMENT OPPORTUNITY | TRAX AT WARD STATION

2.978 ACRES | ZONED UP TO 280 UNITS | UP TO SIX STORIES