Carmel Partners has paid $36.19 million for two parking lots adjacent to PepsiCo’s bottling plant, according to property records. 3800 N. Brighton Blvd. sold for $16.41 million and 3900 N. Brighton Blvd. sold for $19.78 million.
The San Fransisco developer will likely build a multifamily property and hopes to be able to announce more specific plans by the end of the year.
Carmel was reportedly attracted to the transit-oriented location in RiNo and the incentive zoning up to 16 stories.
CBRE represented Pepsi in the deal. Carmel Partners was unrepresented.
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