OFFERING MEMORANDUM 3791 W 72ND AVE & 7205 MEADE ST WESTMINSTER, CO 80030 TRAVIS HODGE ANTHONY BOBAY Senior Advisor Investment Sales Advisor [email protected] [email protected] 404.259.8171 720.297.6667 TABLE OF CONTENTS PROPERTY OVERVIEW LOCATION OVERVIEW APPENDIX PROPERTY OVERVIEW DEVELOPMENT HIGHLIGHTS Two blocks from historic Old Town Westminster. Located within Qualified Opportunity Zone. 1/2 mile from Westminster Station (B-Line Commuter Rail). Focal point of City of Westminster's redevelopment efforts. City of Westminster undergoing code rewrite - property anticipating Traditional Mixed Use Neighborhood Development (TMUND) zoning. SITE OVERVIEW SITE OVERVIEW ADDRESS 3791 W 72ND AVE & 7205 MEADE ST CITY/STATE/ZIP CODE WESTMINSTER, CO 80030 PARCEL ID 0171931417006, 0171931417030, 0171931417024 COUNTY ADAMS COUNTY ZONING MUNICIPALITY CITY OF WESTMINSTER ZONING FUTURE TMUND PARCEL SIZE (SF) 52,556 SF PARCEL SIZE (AC) 1.21 ACRES MAX HEIGHT (FT) 45' SUGGESTED ENVIRONMENTAL CONDITION NO KNOWN CONDITIONS FEMA FLOOD ZONE DESIGNATION NONE MILL LEVY 102.843 EXISTING BUILDING SF 1,456 SF AND 1,880 SF EXISTING USE CAR WASH AND RETAIL/OFFICE LIST PRICE UNPRICED ALLOWABLE USES ALLOWABLE USES 1 MULTIFAMILY 2 AFFORDABLE HOUSING 3 MIXED USE 4 OFFICE 5 HOSPITALITY 6 RETAIL LOCATION OVERVIEW NEIGHBORHOOD DESCRIPTION Situated in the southern part of the city, Historic Westminster is a vibrant area rich in history and character that has been 130 years in the making. Today, it is home to thriving local businesses, parks and bicycle trails, and a diverse mix of authentic cuisine restaurants. It is also home to Westminster Station (B-Line Commuter Rail) and is bounded to the north by US Highway 36. Historic Westminster boasts exceptional access with downtown Denver just a 10-minute drive away, a 20-minute drive to Boulder, and 15-minute rail service to Union Station. With Westminster Station TOD just steps away, and a future focus on mixed-use urban infill development, the area can expect to see a tremendous amount of continued organic growth with a mixed-use array of retail, residential and office development. AREA STREET MAP 3791 W 7 2ND A V E NEWTON ST 7 205 M E A DE S T MEADE ST W 72ND AVE REGIONAL MAP Boulder 80TH AVE 15705 W 82ND AVE WADSWORTH AVE 15705 W 82ND AVE Interlocken Broomfield 64TH AVE Old Towne Arvada Harold Luts Sports ComplexThornton Old Towne Arvada Station Arvada Ridge Station WARD RD Westminster 52ND AVE 52ND AVE 3791 W 72ND AVE & INDEPENDENCE ST 7205 MEADE ST KIPLING ST Wheat Ridge 36 Ward StationArvada WADSWORTH AVE Downtown Denver NEIGHBORHOOD MAP ENGLAND PARK WADDELL PARK WOLF RUN PARK WESTMINSTER SWIM & SKYLINE VISTA 96 FITNESS CENTER ELEMENTARY TORII SQUARE PARK HARRIS PARK WESTMINSTER ACADEMY FOR INTERNATIONAL STUDIES ELEMENTARY SCHOOL 36 3791 W 72ND AVE OLDE WESTMINSTER PUB & TAVERN & 7205 MEADE ST SKYLINE ZIP CLINIC CAFE MEXICO VISTA PARK URGENT CARE #72 BUS WESTMINSTER HIDDEN LAKE HIGH SCHOOL HIGH SCHOOL WESTMINSTER STATION LITTLE DRY CREEK DOG PARK LITTLE DRY CREEK PARK HIDDEN LAKE PARK #31 BUS JOSEPHINE HODGKINS LEADERSHIP ACADEMY 287 PHOTOS 3791 W 72ND AVE & 7205 MEADE ST WESTMINSTER STATION WESTMINSTER STATION TOD (ARTIST RENDERING AT FULL BUILD OUT DEMOGRAPHICS POPULATION 1 Mile 3 Mile 5 Mile Population (1990) 11,854 117,874 281,946 Population (2000) 14,554 132,893 323,530 Population (2010) 13,789 130,238 319,115 Population (Current) 16,103 149,800 367,059 Population (5 Yr. Forecast) 16,736 154,905 379,046 Percent Growth (CurrentYr./Previous Yr.) 17.04% 14.67% 15.34% Percent Forecast (5 Yr.Forecast/Current Yr.) 3.92% 3.29% 3.24% INCOME 1 Mile 3 Mile 5 Mile Median Household Income $51,630 1$64,632 $72,705 Total Household Income $374,376,286 $4,373,671,665 $12,960,549,760 Average Household Income $60,189 $77,635 $87,686 Per Capita Income $23,249 $29,197 $35,309 Avg Family Income $74,957 $93,228 $104,438 Family Income, Per Capita $22,598 $28,667 $34,185 HOUSEHOLD 1 Mile 3 Mile 5 Mile Households (Current) 6,220 56,336 147,806 Families 3,761 36,199 89,926 Average Size of Household 2.58 2.67 2.49 Median Age of Householder 50 51 50 Median Value OwnerOccupied $153,399 $162,698 $202,765 Median Rent $862 $909 $948 Median Vehicles PerHousehold 2.0 2.0 2.0 Housing Units 6,517 58,654 154,214 Owner Occupied Units 2,764 32,934 87,914 Renter Occupied Units 3,456 23,402 59,892 Vacant Units 297 2,318 6,408 EMPLOYMENT KEY EMPLOYERS # of Employees Business Activity Address City Lutheran Medical Ctr 1000 - 4999 Hospitals 8300 W 38th Ave Wheat Ridge 84th Avenue Neighborhood Hlth 500 - 999 Clinics 2551 W 84th Ave Westminster Alpine Waste & Recycling 500 - 999 Waste Disposal 7373 Washington St Denver Argus Event Staffing 500 - 999 Employment Agencies & Opportunities 4001 Fox St Denver Arvada City Government 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada City Of Arvada 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada Delt Services 500 - 999 Marijuana Dispensary 500 E 84th Ave Thornton First Transit Inc 500 - 999 Buses-Charter & Rental 100 W 64th Ave Denver Healthone Mountain View Nurse 500 - 999 Nurses-Licensed-Anesthetist 9141 Grant St Thornton Jefferson Center-Mental Health 500 - 999 Mental Health Services 9101 Harlan St Westminster National Western Complex 500 - 999 Trade Fairs & Shows 4655 Humboldt St Denver North Suburban Pulmonary Care 500 - 999 Physicians & Surgeons 9191 Grant St Thornton Regis University 500 - 999 Schools-Universities & Colleges Academic 3333 Regis Blvd Denver Thornton Finance 500 - 999 Government Offices-City/Village & Twp 9500 Civic Center Dr Thornton Western Distributing Co 500 - 999 Beer & Ale-Wholesale 4955 Bannock St Denver American Furniture Warehouse 250 - 499 Furniture-Dealers-Retail 8501 Grant St Thornton Anheuser-Busch Inc 250 - 499 Brewers (Mfrs) 1455 E 62nd Ave Denver Cleo Wallace Residential Care 250 - 499 Psychologists 8405 Church Ranch Blvd Broomfield Devereux Colorado 250 - 499 Mental Health Services 8405 Church Ranch Blvd Broomfield Leprino Foods Co 250 - 499 Cheese Processors (Mfrs) 1830 W 38th Ave Denver Lutheran Medical Ctr-Emergenc 250 - 499 Clinics 8300 W 38th Ave Wheat Ridge Metro Wastewater Reclamation 250 - 499 Government Offices-City/Village & Twp 6450 York St Denver Metrogro Farm 250 - 499 Farms 6450 York St Denver North Suburban Medical Ctr 250 - 499 Hospitals 9191 Grant St Thornton Pinnacle Charter Sch Elmntry 250 - 499 Schools 1001 W 84th Ave Denver Walmart Supercenter 250 - 499 Department Stores 7155 Sheridan Blvd Westminster Wheat Ridge Regional Ctr 250 - 499 Government Offices-State 10285 Ridge Rd Wheat Ridge APPENDIX ADAMS COUNTY Out of the 355 largest counties in the country that the bureau examined, Adams ranked first with a 5.3% rate of annual job growth between June 2018 and June 2019. The county is ideally located at the crossroads of the metro region’s transportation network, which provides businesses and residents convenient access to I-25, I-70, I-270, and I-76. Adams County also completely surrounds Denver International Airport (DIA), connecting it to the global transportation network. Adams County is forecasted to have record population and employment growth over the next 20 years. This projection is made in part because Adams County benefits directly from four of the $5 billion-dollar projects in Colorado – Fitzsimons Life Science District, E-470 toll road, FasTracks, and its direct proximity to Denver International Airport. Largest percent increases in employment in largest U.S. counties, June 2018–2019 County Percent Change Employment June 2019 Adams, CO 5.30% 227,200 Richmond, NY 3.90% 128,600 Williamson, TX 3.90% 182,800 Utah, UT 3.90% 251,200 Durham, NC 3.80% 211,500 Osceola, FL 3.70% 96,900 Denton, TX 3.70% 257,700 Warren, OH 3.60% 99,800 San Francisco, CA 3.40% 761,000 Weld, CO 3.30% 114,700 St. Lucie, FL 3.30% 76,300 York, SC 3.30% 100,900 Davidson, TN 3.30% 514,700 WESTMINSTER STATION DEVELOPMENT Located just southeast of the historic core of the city, the Westminster Station Transit Oriented Development (TOD) area is set to become the next new mixed-use urban neighborhood and regional destination in the Denver metropolitan area. Westminster Station is closer to Union Station than most of Denver— with a convenient 15-minute train ride to Denver’s Union Station, along the B Line. The first stop on the Northwest commuter rail, Westminster Station is advantageously located near US Highway 36 and Federal Boulevard—two major regional thoroughfares in the Denver metropolitan area. With more than 58 acres of transitoriented development in the core station area, Westminster Station is poised for tremendous growth. Anchored by a 600+ stall parking lot, the area can expect to see a mixed-use range of retail, residential and office development, all occurring organically over time. Not too many TOD areas can claim the recreational element so unmistakable at Westminster Station. The first phase of development for Westminster Station Park— a nearly 40-acre park located just south of the station—will include an innovative nature-play park, and connection to the Denver/Boulder bike trail. Future phases may include a xeric garden, pavilions, special event space, fishing pier, seating and picnic areas, public art, and environmental education opportunities. Information sourced from: https://www.westminstereconomicdevelopment.org/places/westminster-station-tod/ WHEAT RIDGE Wheat Ridge is less than 15 minutes from Downtown Denver and has a population of over 30,000. The City maintains: 24 Parks 274 acres of open air space 4 lakes More than seven miles of nationally recognized trail along Clear Creek.