BrokerageMultifamily

3 Acres at Littleton Village Sell for $3.75M

Facebooktwitterredditlinkedinmail

According to Newmark, ±3.06 acres of land located at Littleton Village, the 77-acre, master-planned community at 220 East Fremont Place in Littleton, has sold for $3.75 million. The sale marks the last available residential parcel—approved for 115 units—within the mixed-use Littleton Village development.

Newmark Vice Chairman Chris Cowan, Associate Director Bryon Stevenson and Transaction Manager Mackenzie Walker represented the seller, Century Communities, in the transaction to an undisclosed buyer.

“The Littleton Village development is a highly connected location with access to major employment, retail and entertainment,” stated Chris. “The strong submarket and surrounding demographics offered an additional value to an already impressive investment opportunity.”

Littleton Village is a mixed-use development consisting of approximately 30 residential acres for single-family and multifamily residences, 12 acres of commercial property, 7 acres for mixed uses, 16 acres for streets and rights of way and 12 acres of open space and neighborhood parks.

The development is divided into two tracts–Tract II with 280 single-family detached and townhome residences and Tract I with a 3.5-acre central park, 11,000 square feet of retail, 352 multifamily and 130 condominium units under construction. The General Planned Development Plan (GPDP) allows for up to 250,000 square feet of additional commercial space to be developed, including a main street-style commercial area.

According to Axiometrics, the surrounding submarket is projected to have 1.77 percent effective rent growth in the next quarter alone. Vacancy remained below 5 percent and is expected to drop further, as the enticing location continues to draw high-quality residents and further drives economic growth.

Photo courtesy of AMLI

Previous post

Grand Opening: Connections at 6th Affordable Housing in Aurora

Next post

New Admin and Customer Service Building for Town of Castle Rock Breaks Ground

1 Comment

  1. Joe Schultz
    April 28, 2021 at 7:26 am — Reply

    Looked at the single family Richmond 2 yes ago. Postage stamp lots, but nice houses with great mountain views that they said would never be blocked. Then they built a 5 story apt block in front of it. Land is also contaminated by the previous owners, marathon oil.

Leave a reply

Your email address will not be published. Required fields are marked *