Colorado-Real-Estate-Journal_355045

Page 14 - August 2-15, 2023 www.crej.com Retail by Avalon Jacka DENVER – A newly renovat- ed retail center in Washington Park signed its first lease agree- ments with new tenants. Veritas Urgent Care Vet- erinary Hospital, Pacific Coast Dental Services, Goldfish Swim School and Legacy Pie Co. signed leases for spaces within Wash Park Supply, which was renovated by owners ZS Capi- tal Partners and Elkco Proper- ties. The tenants are expected to move into their spaces in the building, located at 300 E. Alameda Ave., by the end of the year. “The tenant mix really fits the family friendly demographics of the neighborhood,” said Spencer Pariser, co-founder of ZS Capital. “We are thrilled our vision for this long-vacant and highly trafficked corner with ample parking has now become a reality.” ZS Capital and Elkco Prop- erties are currently in nego- tiations with a final potential tenant, a food and beverage user, to take the remaining 2,700 square feet of the 20,377- sf building. “We had a tremendous amount of interest,” said Derek Conn, co-founder of ZS Capital. “Ultimately, it’s about curating a dynamic tenant mix that we felt would activate and revive the location back to a neighbor- hood center.” ZS Capital and Elkco Proper- ties were represented by a team of brokers in the lease transac- tions, including Sam Zaitz and Jeff Feldman of JLL and Court- ney Key of SullivanHayes Bro- kerage. Zaitz and Feldman also represented all tenants in their respective transactions. All three brokers were involved in the $8.3 million sale transaction of the property last year. Key rep- resented the former owner, and Zaitz and Feldman represented the current owners, according to previous reporting. The permitting process with the city of Denver for tenant- specific unit upgrades is under- way for all of the new tenants. Dependent on construction timelines, tenant move-ins are expected for fourth-quarter 2023. Goldfish Swim School will occupy 7,300 sf. The company provides swim lessons for chil- dren ages 4 months and up in 38 states, plus Washington, D.C., and Ontario, Canada, including three other Colorado locations in Aurora, Denver and Superior. Veritas Urgent Care will occupy approximately 5,000 sf of east end-cap space. The specialty and emergency vet network was founded in New Jersey and has locations in Cal- ifornia, Nevada, New York and New Jersey, as well as a Wheat Ridge location in Colorado. Pacific Coast Dental’s space will total 3,000 sf. The den- tal chain has over 900 loca- tions nationally and plans to continue expansion in existing markets. Legacy Pie Co. will take about 1,700 sf in the west end- cap. The Denver-based com- pany, which is an offshoot of the Colorado Cherry Co. established in 1929, offers both sweet and savory pies. The property was sitting “underutilized and in need of a face-lift” through the pan- demic, according to Conn, who highlighted that Wash Park Supply will be a brand-new center to serve the community with the completed renova- tions. “We made significant cap- ital investments to upgrade, modernize and brighten the façade and improve the prop- erty to create a sense of place that would attract the kind of tenants we wanted to bring in,” Conn continued. “Just as importantly, we saw these improvements were an invest- ment in the neighborhood. Our goal is to really revive this property as a neighbor- hood gathering place – an asset people can be proud of that matches the aesthetic of the area.” The building’s renovations include a modernized, entire- ly new façade on the north end of the building with metal paneling, stucco and cedar soffit. The interior was gutted and received upgraded utili- ties as well as completely new spaces to fit tenants’ opera- tional needs. Pappas Architec- ture designed the renovations, and Williams Construction Co. was the general contractor in charge of renovations. Elkco Properties will manage the asset through its property management affiliate, Trybe Property Management. s Newly renovated Wash Park Supply welcomes new tenants For inquiries contact: John Burke | City of Westminster Economic Development Department jburke@cityofwestminster.us | 303-658-2021 DowntownWestminster.us Located between Denver and Boulder, Westminster’s new downtown will be a civic, cultural and economic hub. With capacity for well over 10 million square feet of development, Downtown Westminster will continue to grow and evolve — BE A PART OF IT! ZS Capital Partners and Elkco Properties renovated the retail property located at the corner of South Logan Street and East Alameda Avenue.