OFFERING MEMORANDUM 5335 W VIRGINIA AVE LAKEWOOD, CO 80226

BENTON ADAMS TRAVIS HODGE Investment Sales Advisor Senior Advisor

[email protected] [email protected] 303.328.5208 404.259.8171 TABLE OF CONTENTS

PROPERTY OVERVIEW LOCATION OVERVIEW APPENDIX PROPERTY OVERVIEW DEVELOPMENT HIGHLIGHTS

Verbal approval from the City of Lakewood for subdivision plans to create 7 residential lots.

Low supply of new residential housing due to Lakewood growth initiative.

Rare low density residential infill opportunity in the heart of the Metro.

1.5 miles away from the Lakewood City Commons mall.

Only 1 mile from Shopping Center. SITE OVERVIEW

SITE OVERVIEW

ADDRESS 5335 W VIRGINIA AVE

CITY/STATE/ZIP CODE LAKEWOOD, CO 80226

PARCEL ID 49-131-99-004

COUNTY JEFFERSON

ZONING MUNICIPALITY LAKEWOOD

ZONING R-1-12

PARCEL SIZE (SF) 155,058 SF

MAX HEIGHT 35 FT

EXISTING BUILDING SF 2,0009 SF

EXISTING USE SINGLE FAMILY RESIDENCE

LIST PRICE UNPRICED LOCATION OVERVIEW NEIGHBORHOOD DESCRIPTION

Resting in-between and the edge of the Rocky Mountains, its no wonder why Lakewood is one of the most desirable suburbs in . The city offers its residents a urban and suburban mix feel. In Lakewood, you can find a large collection of restaurants, shops, and parks in addition to highly rated public schools. With a current population of 155k, 58% of the residents own their own homes. This in addition to the high rental rates reflects the fact that Lakewood has a relatively low supply of new housing options. The limited supply creates ample opportunity for creative developers who can work with the City to bring new housing options to the residents of Lakewood. AREA STREET MAP

5535 W VIRGINIA AVE S DEPEW ST DEPEW S

WEST VIRGINIA ST NEIGHBORHOOD MAP

KELI MCGREGOR FIELD W 6TH AVE

CREIGHTON MIDDLE SCHOOL STOP ID: 12032

5535 W VIRGINIA AVE BRADY HIGH BELMAR SQUARE SCHOOL PARK RAY ROSS PARK KEPNER BEACON MIDDLE SCHOOL W ALMEDA AVE BONFILS STANTON PARK ALAMEDA INTERNATIONAL JR/SR HIGH SCHOOL LASLEY ELEMENTARY BELMAR SCHOOL FORCE ELEMENTARY PARK SCHOOL 88

391

85 121

BEAR CREEK DSST: HENRY HIGH SCHOOL MIDDLE SCHOOL

285 APPENDIX DEMOGRAPHICS

POPULATION 1m 3m 5m HOUSEHOLD 1m 3m 5m

Population (1990) 16,130 138,714 353,900 Households (Current) 7,837 69,513 217,351 Population (2000) 19,764 163,773 405,336 Families 5,168 43,608 103,477 Population (2010) 20,103 163,465 406,785 Average Size of Household 3.0 2.8 2.3 Population (Current) 23,185 190,342 475,946 Median Age of Householder 49.0 49.0 46.0 Population (5 Yr. Forecast) 23,939 196,686 491,955 Median Value Owner Occupied $153,560 $179,065 $255,601 Percent Growth (Current Yr./Previous Yr.) 16.7% 16.7% 17.3% Median Rent $899 $864 $896 Percent Forecast (5 Yr. Forecast/Current Yr.) 3.4% 3.3% 3.4% Median Vehicles Per Household 2.0 2.0 2.0 Housing Units 73,264 230,703 INCOME 8,346 Owner Occupied Units 3,991 35,791 101,940 Median Household Income $50,445 $55,070 $68,979 Renter Occupied Units 3,846 33,722 115,411 Total Household Income $502,900,182 $4,853,014,131 $19,151,050,700 Vacant Units 509 3,751 13,352 Average Household Income $64,170 $69,814 $88,111 Per Capita Income $21,691 $25,496 $40,238 Avg Family Income $71,686 $79,635 $111,011 Family Income, Per Capita $19,581 $23,778 $40,105 EMPLOYMENT

KEY EMPLOYERS # of Employees BUSINESS ACTIVITIES IN THE AREA ADDRESS CITY

Denver Health 5,000 - 9,999 Hospitals 777 Bannock St Denver

Denver Health Medical Ctr 5,000 - 9,999 Hospitals 777 Bannock St Denver

Anthem Blue Cross Blue Shield 1,000 - 4,999 Insurance 700 N Broadway Denver

City Of Lakewood 1,000 - 4,999 Government Offices-City/Village & Twp 480 S Allison Pkwy Lakewood

Contemporary Services Corp 1,000 - 4,999 Security Guard & Patrol Service 1801 Mile High Stadium C Denver

Credit Union Of Denver 1,000 - 4,999 Credit Unions 9305 W Alameda Ave Lakewood

Denver Police Dept 1,000 - 4,999 Police Departments 1566 N Washington St Denver

Denver Water 1,000 - 4,999 Utilities 1600 W 12th Ave Denver

Gates Industrial Corp PLC 1,000 - 4,999 Rubber & Plastics-Hose & Belting (Mfrs) 1144 15th St Denver

Human Resources Div 1,000 - 4,999 State Government-Social/Human Resources 1525 N Sherman St Denver

Lumen Technologies Inc 1,000 - 4,999 Telecommunications Services 1801 California St Denver

Lutheran Medical Ctr 1,000 - 4,999 Hospitals 8300 W 38th Ave WheatRidge

Media News Group Inc 1,000 - 4,999 Media Consultants 101 W Colfax Ave Denver

Personal Assistance Svc Of Co 1,000 - 4,999 Home Health Service 9197 W 6th Ave Lakewood

Public Safety Dept 1,000 - 4,999 Government Offices-State 700 Kipling St Lakewood

Regents Of The Univ Of CO 1,000 - 4,999 Univ/Clg-Governing Body/Regent/Trustee 475 17th St Denver

St Anthony Hospital 1,000 - 4,999 Hospitals 11600 W 2nd Pl Lakewood

Terumo Bct Inc 1,000 - 4,999 Physicians & Surgeons Equip & Supls-Mfrs 10811 W Collins Ave Lakewood

Transwestern Mile High Cmmrc 1,000 - 4,999 Oil Property Management 201 W Colfax Ave Denver

Wells Fargo Bank 1,000 - 4,999 Banks 1740 Broadway Denver

Accenture Limited 500 - 999 Business Management Consultants 1400 16th St Denver

Aramark Corp 500 - 999 Business Services NEC 2151 Blake St Denver

Board Of Education Colorado 500 - 999 Libraries-Public 201 E Colfax Ave Denver

Board Of Regents Colorado 500 - 999 Univ/Clg-Governing Body/Regent/Trustee 1800 N Grant St Denver

Brown Palace Hotel-Spa 500 - 999 Hotels & Motels 321 17th St Denver

Bryan Cave Leighton Paisner 500 - 999 Attorneys 1700 N Lincoln St Denver

Cch-Administration/Clinical 500 - 999 Social Service & Welfare Organizations 2111 Champa St Denver LAKEWOOD

Lakewood is the largest city in Jefferson County and the fifth-largest city in the state of Colorado. It is conveniently located 10 minutes west of and 10 minutes east of the foothills of the Rocky Mountains. With easy access to I-25, I-70, CO-470, and US-6, Lakewood is a desirable place for commercial and residential development.

Lakewood is known for its breathtaking views, eclectic culture, and growing commerce.

Destinations include: Sloan’s Lake Green Mountain Bear Creek Lake Belmar Shopping Center Outlet Mall

The historic commercial corridor known as West Colfax is seeing economic growth after the addition of the W line and other initiatives. In some areas, commercial property values for spaces near light rail stops have doubled and, in some cases, tripled over the past few years. Additionally, Transit Oriented Development (TOD) has made living, working, shop-ping, and playing in Lakewood even more enjoyable by reducing sprawl, protecting existing neighborhoods, reducing commute times and traffic congestion, and improving environmental quality and open space preservation. The city’s top employer is the Denver Federal Center, but it’s also home to headquarters for Einstein Bros. Bagels, 1stBank and The Integer Group. DENVER FEDERAL CENTER

The Denver Federal Center is home to the largest concentration of federal jobs outside of Washington DC with over 6,200 employees. The Center encompasses an area of approximately 623 acres and has 90 buildings with over 4,000,000 square feet of rentable office, warehouse, lab and special use space.

The Denver Federal Center is located adjacent to the foothills of the and is only minutes from Downtown Denver.

There are 28 different Federal agencies on-site. The major employers at the Center include the United States Department of the Interior (and its Bureau of Land Management, Bureau of Reclamation, and United States Geological Survey) and the General Services Administration. Special facilities at the Center include the National Ice Core Laboratory. 40 WEST ARTS DISTRICT

40 West Arts is a non-profit, state-certified creative district along Lakewood’s historic West Colfax Avenue with the mission of energizing West Colfax through arts experiences, exhibitions, and events that engage the whole family.

40 West Arts is home to an ever-growing number of creative venues, from live performances at Benchmark Theatre to cutting-edge contemporary art at Edge Gallery, Next Gallery, Pirate: Contemporary Art and others. The district includes the campus of Rocky Mountain College of Art + Design and the popular Mexican-themed entertainment restaurant Casa Bonita, a national top-ten roadside destination.

A new amenity in the district is the 40 West ArtLine, a four-mile walkable, bikeable outdoor arts experience that intersects three parks and comprises 70+ art installations including sculptures, murals, fence art, interactive games and more. Whether for its arts experiences, creative venues and public art, eclectic eateries or micro brews, 40 West Arts is a top westside destination. CITY OF DENVER NOTABLE RANKINGS #2 BEST PLACES TO LIVE (U.S. NEWS & WORLD REPORT 2019)

#1 IN ECONOMIC 4th BEST PLACE IN TOP 10 PLACES & JOB GROWTH AMERICA FOR IN THE U.S. TO TRAVEL (AREA DEVELOPMENT, 2015) BUSINESS & CAREERS (LONELY PLANET, 2016) (FORBES, 2019)

#1 IN ECONOMIC 4TH BEST CITY 6TH FASTEST RANKING FOR BIKE RIDING (USNEWS.COM, 2019) GROWING METRO IN THE U.S. AREA IN THE U.S. (WALK SCORE, 2015) (FORBES, 2016)

3RD HEALTHIEST CITY IN THE NATION #1 IN THE NATION FOR (FORBES, 2016) LARGEST INCREASE IN RESIDENTS WITH COLLEGE DEGREES 7TH BEST STATE (U.S. CENSUS BUREAU, 2014) IN WHICH TO MAKE A LIVING 3RD BEST CITY FOR (FORBES, 2016) COLLEGE GRADS (RENT.COM, 2015) DENVER METRO

Located on the front range of the Rocky Mountains, the Denver Metro is a thriving urban epicenter famous for its breathtaking views, world-class dining, champion sports teams, exhilarating recreation, and eclectic arts and entertainment. It’s no wonder this metropolis is one of the biggest in the nation! ATTRACTIONS SPORTS

Denver Art Museum Basketball: Denver Museum of Nature and Science Hockey: Football: Denver Aquarium Baseball: Colorado Rockies Six-Flags Elitch Gardens Soccer: Hyland Hills Water World Denver Aquarium DENVER GROWTH

Ranked as the top place to live in the U.S. by U.S. News & World Report, the city of Denver is home to over 705,439 residents (as of May 2019). An estimated 2.9 million people live in Denver Metro as a whole, with more people moving to the area each year, as this number is expected to grow by 12.6 percent over the next five years, compared to 3.7 percent nationally. Currently 100+ pe pleare immigrating to the city each day. The Denver Metro accounts for over half of the population in the entire state of Colorado, which is home to an estimated 5.5 million people.

CONSTRUCTION As one of the fastest-growing metros in the nation, Denver is thriving with new construction. This new construction will help accommodate the population growth throughout the metro. Some current projects include:

17th & Peal Apartments, a 315-unit apartment with 9,000 sq. ft. of retail.

Alexan 20th St Station, a 358-unit apartment with street level retail. Block 162, a full block project that included a 680,000 sq. ft. office tower and separate tower hotel.

Tabor Center Tower Two, a 33 story 700,000 sq. ft. office tower would be the largest development in Denver since 1985.

Market Station, Lodo, comprised of nearly a full block off the 16th St Mall in Downtown Denver, the development consists of 80,000 SF retail space, 95,000 SF office space & 225 apartments.

McGregor Square, Lodo, a project located across the street from , it features 3 connected structures - an 11-story office building, a 13 story condominium and hotel buildings surrounding a center courtyard. Lower floors will feature retail tenants. EMPLOYERS IN THE DENVER METRO

The Denver metro is a hub for various industries, including aviation, health, business, finance, and technology. Outside of city, state, and school services, major employers in the Denver metro area include:

Denver International Airport Kaiser Permanente Lockheed Martin Liberty Tax Service Health ONE Corporation Western Union Centura Health University of Colorado SCL Health Systems Children’s Hospital Comcast Wells Fargo CenturyLink

In 2017, Amazon opened up a 1 million sq. ft. fulfillment center in Aurora, creating nearly 1,000 full-time jobs. Google is building a $131 million, four-acre, state-of-the art facility in Boulder, potentially bringing more jobs to the area.

Many companies choose to relocate to or expand in the Denver Metro, especially tech and startup companies.

Between 2007-2015, approximately 9,000 companies chose to relocate from California to Denver. These employers are attracted to the innovative culture, economic environment, exceptional talent, and deep sense of social responsibility that characterizes the Denver Metro. Forbes ranks Denver as #1 in the nation for business and careers, and Area Development ranks Denver as #1 in the nation for economic and job growth.

Denver metro is home to many fast-growing startups, with 113 local companies making the Inc. 5000 list of the nation’s fastest-growing private companies for the year 2017. LIGHT RAIL

The Regional Transportation District (RTD) operates 365 days a year to quickly connect travelers to their destination. As part of RTD, the 58-mile rail system features nine rail lines servicing 62 stations along the Denver metro’s North, East, Southeast, Southwest, and West rail corridors.

Popular destinations include:

Denver International Airport (DIA) Theatre District Convention Center Sports Authority Field at Mile High Pepsi Center 16th Street Mall Mall.

RTD’s rail system has transformed people’s commutes and the communities they live in. The 23-mile stretch from Downtown Denver to DIA is now just a 30-minute ride via light rail. The light rail is also attributed with revitalizing neighborhoods across the Denver metro, including Five Points and West Colfax. An average of 64,000 people utilize the light rail each day, making it eighth-largest system in the country, even though Denver is 21st in the nation in terms of population. DENVER INTERNATIONAL AIRPORT (DIA) Denver International Airport (DEN), also known as DIA, opened to the public on February 28, 1995 and at 34,000 acres, remains the largest and newest commercial airport in the United States, and the 2nd largest airport in the world by size and the 20th busiest airport in the world. It’s known around the world for its striking tented roof structure and technologically advanced operations. Over the past twenty years, DIA has established itself as the primary employer and economic driver in the Denver metro, supporting nearly 190,000 jobs and generating more than $26 billion in annual revenue. Served a record setting 64.5 Million passengers in 2018.

The airport serves over 170 destinations including 20 international cities in nine countries.

DIA is just 30 minutes from Union Station via the East Rail line. DIA has room to double its current capacity to remain competitive in the growing global aviation marketplace. DIA broke ground in May of 2018 on a $2.0 billion gate expansion project. The project will add 39 gates across all three concourses in the next four years, bringing the total to 150.

The expansion will utilize the airport’s original “telescoping” design by expanding astward and westward at the ends. The expansion is expected to be completed by the end of 2022.

DIA is among the first airports in North America to secure internationally recognized accreditation for measuring and reducing carbon emissions. CAPSTONE TEAM 5335 W VIRGINIA AVE LAKEWOOD, CO, 80226

TRAVIS HODGE EMILY HAMPSON Senior Advisor Transaction Coordinator [email protected] [email protected] 404.259.8171 719.776.0916

BENTON ADAMS LAUREN ANDERSON Investment Sales Advisor Sr. Investment Analyst [email protected] [email protected] 303.328.5208 707.484.3320

KIM HOFF Marketing Manager

[email protected] 612.669.2068 CONFIDENTIALITY DISCLAIMER

Capstone Apartment Partners has been engaged as the exclusive listing Broker representative of the Owner for the sale of this property. No contact shall be made by any prospective purchaser or agents to the Owner, its executives, staff, personnel, tenants, or related parties.

This Investment Offering Memorandum is a confidential solicitation of interest, and the information provided herein is provided for the sole purpose of considering the purchase of the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property or to terminate discussions with any entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Memorandum or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms acceptable to the Owner. By receipt of this Offering Memorandum, prospective purchaser will be deemed to have acknowledged the foregoing and agrees to release the Owner from any and all liability with respect hereto. The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the purchaser shall be fully and solely responsible. All information contained herein is confidential in nature, and recipient agrees not to photocopy, duplicate, forward, distribute, or solicit third party interest without written permission and consent from Owner or Capstone Apartment Partners.

Neither Capstone Apartment Partners nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise or representation as to the future performance of the Property.

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