Office 6 Retail 10 Industrial 14 Multifamily 20 Finance 24 CDE News 30 Groundbreaking Thompson Thrift breaks ground on luxury MF development INSIDE Taking off Canopy Aerospace leases Littleton property as headquarters 16 22 FEATURED Joint sale The Axton and The Bascom Group jointly sell MF property for $74.1M 20 CONTENTS APRIL 19-MAY 2, 2023 by Katie Spence FIRESTONE — The Stae- nberg Group, also known as TSG Properties, broke ground last month on a 32-acre mixed- use development project. The project is an expansion of Stae- nberg's existing 100-acre Fires- tone City Centre. “This project is a doubling down of our investment in Firestone,” Max Gansline, vice presi- dent of The S t a e n b e r g Group, told CREJ. “Our intention is to provide a vibrant and diverse s h o p p i n g and dining experience for the Firestone community, as well as serve the emerging Northern Colo- rado trade area, and this new phase of Firestone City Centre allows us the opportunity to do just that.” He added that the new project is in the Fire- stone North Urban Renewal Area and is being developed in partnership with the Fires- tone Urban Renewal Author- ity. “The town of Firestone and the entire I-25-Highway 119 trade area continues to attract families and businesses with its diverse housing options, quality schools, and central- ized location in the north Den- ver metro and Northern Colo- rado region,” Paula Mehle, Firestone director of economic development, said in Staen- berg's press release. “With this growth and impressive demo- graphics, we look forward to TSG Properties breaks ground on expansion by Katie Spence FRISCO — Denver-based hotel company 5 Senses Hos- pitality Management held its grand opening of the AC Hotel Frisco after its extensive reno- vation. “This is the first new product of any scale to be affiliated with a brand family like Marriott within Frisco in a long time,” Katie Lindquist , a client ser- vices partner at Dovetail Solu- tions, told CREJ. "We are fortu- nate to have hired a lot of local residents who are as confident in Summit County's future as we are." Located at 1202 Summit Blvd., in Frisco, the property sits on 3 acres and has 133 rooms. The pet-friendly hotel also includes a state-of-the-art fitness room with floor-to- ceiling windows, an outdoor hot tub with a fire pit both overlooking the Tenmile Range from Frisco to Breckenridge, a game room, a private dining and meeting room, a locker room, an indoor swimming pool, a library, a business cen- ter, and an AC Restaurant and AC Lounge, which serves local spirits, beer and wine. “Summit County is a remark- able, unique location for our expansion of the 5 Senses Hos- pitality Management portfolio. Nestled in the heart of Colora- do's most stunning landscapes and surrounded by some of the most iconic world-class ski resorts in the Rocky Mountain region, the AC Hotel Frisco Colorado will provide guests with an oasis as they immerse themselves in the great out- doors,” said Chris Manley, founder and president of 5 Senses Hospitality Manage- ment in a press release. AC Hotel Frisco recycled 48,000 pounds of scrap metal during the renovation and saved 22,500 pounds of mate- rial from Colorado landfills. According to a press release, it also recycled 800 pounds of universal waste, including 400 HHW units, CFL bulbs and ballasts, and donated the prop- erty's gym equipment for reuse. Anchor Engineering was the engineer for the project, and Cushing Terrell was the archi- tect. Reliance Construction was the general contractor. s AC Hotel Frisco opens after renovations After extensive renovations, 5 Senses Hospitality Management opened AC Hotel Frisco. DEL CAMINO Firestone, Colorado To Fort Collins To Longmont 36,000 VPD PROJECT LOCATION 100,000 VPD To Denver TSG Properties broke ground on a 32-acre expansion to its Firestone City Centre development. Max Gansline Please see TSG, Page 49 Doubling space McCarthy Building Cos. signs lease at One Platte 6