12.5 Acres of Land Along TOD Development Sells for $6.5M
A 12.5 acre site on Tollgate Creek in Aurora, has sold for $6.5 million. The site is strategically located adjacent to the 13th Avenue Light Rail Station in Aurora which serves the Fitzsimmons Medical Campus and the Denver Tech Center.
“The buyer intends to develop the land into 350+ Class-A Multifamily Units,” stated Chase Grimes, advisor at Pinnacle Real Estate Advisors who represented the out-of-state buyer in the transaction.
During the transaction, Chase Grimes worked closely with the Buyer, the City of Aurora, and RTD (Regional Transportation District) to negotiate the construction of a new road and bridge that will serve the vibrant station.
“This transaction is a perfect example of an out-of-state buyer leveraging Pinnacle’s local expertise to achieve its long-term goals in the fast growing sub-market that is Aurora,” noted Chase Grimes.
The 13th Avenue Light Rail Station is located along the R Line that brings light rail service from Denver through the heart of Aurora to Lone Tree. The entire 22-mile R Line provides easy connections to the University of Colorado A Line and the H Line, making it easier than ever to get to the airport, the Denver Tech Center or downtown Denver.
Map courtesy of Pinnacle Real Estate Advisors