The former headquarters in Denver has sold for $16.78 million, clearing the way for a 329-unit apartment development.
Multifamily developer bought the property at 3800 Xanthia St., according to a warranty deed filed with the city Friday. The developer plans to build the apartment community on about 10 acres in the first phase. Construction is expected to begin later this year, with completion slated for the fourth quarter of 2027.
The Garrett Cos. also plans a second phase on about 5 acres of the property.
Eric Roth and Martin Roth of CBRE represented the seller, RK Industries, which specializes in construction, manufacturing, fabrication and facility services.
“Located in the heart of the Central Park master planned community, the RK Industries ownership had the foresight to realize that the site’s redevelopment potential supported other uses that would enhance the neighborhood,” said Eric Roth, an executive vice president with CBRE, in a Monday announcement about the sale.
“The Class A apartments will blend seamlessly with the surrounding residential development.”
Founded in 2014, The Garrett Cos. has developed dozens of housing projects across several states. Its Colorado projects under construction include The Gallery, a 260-unit apartment community in Aurora; Garrett Baseline, a in Broomfield; and Garrett Parker, a 192-unit apartment community in Parker.
The company also has plans to demolish a vacant office property in Centennial and replace it with 368 multifamily units across 14 buildings.
The sale follows RK’s and the relocation of its headquarters to 3301 Lewiston St. The company announced the move late last year to the 154,488-square-foot facility.
“Relocating our headquarters to Aurora isn’t just about expanding our footprint in Colorado, itap about expanding opportunity,” said RK Industries Chief Operating Officer Jon Kinning.
“We’re projecting to create over 1,700 good-paying jobs over the next eight years, investing heavily in workforce training, and strengthening the communities where our employees live and work.”
The move to bring RK to Aurora was supported by aimed at keeping the company’s expansion in Colorado.
