NAI Shames Makovsky has brokered the sale of 3201 Curtis St., Denver, to MAINSPRING, a real estate and business development firm in Denver. The sale is the final step in a multifaceted deal that also includes Women’s Bean Project and the Denver Housing Authority (DHA).
Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky brokered the entirety of the deal.
“This multilayered deal is a strong example of the power of partnerships across sectors to achieve the goals of all involved,” said Dorit Fischer, a broker at NAI Shames Makovsky. “The ultimate result of this deal, which is punctuated by the sale of 3201 Curtis St., benefits the diverse needs of public, private, and philanthropic sector partners and will ultimately provide tremendous community benefit.”
Women’s Bean Project, a 501(c)(3) nonprofit organization with a mission to change women’s lives by providing stepping stones to self-sufficiency through social enterprise, purchased the 10,000-square-foot space at 3201 Curtis St., in Denver’s Five Points neighborhood in 1995. They grew from there and in 2019, engaged NAI Shames Makovsky to act as the seller’s representative on that property.
In seeking a new property that accommodated Women’s Bean Project’s expanding operations, NAI Shames Makovsky identified 1300 W Alameda Ave. as a potential site. While the property included a 20,000-square-foot facility ideal for Women’s Bean Project’s operations, it also included 1.32 acres of adjacent land that the nonprofit did not need. Simultaneously, NAI Shames Makovsky’s client DHA was in the market for property on which to develop permanent supportive housing through its DHA Delivers for Denver Bond Program (D3). NAI Shames Makovsky was able to assemble a deal that ultimately benefitted both organizations.
In March 2020, NAI Shames Makovsky brokered the deal for DHA to purchase 1300 W Alameda for $4 million. In November 2021, the Women’s Bean Project purchased the facility and adjacent parking lot located on the site from DHA for $2.5 million, leaving DHA with the land needed for a permanent supportive housing development and providing Women’s Bean Project with the room they need to expand their operations.
The final phase of the deal came on July 26, when the NAI Shames Makovsky team brokered the sale of Women’s Bean Project’s property at 3201 Curtis St. to MAINSPRING.
“Women’s Bean Project has grown significantly since the Curtis Street location was purchased,” said Tamra Ryan, CEO of Women’s Bean Project. “In addition to our increasing production volume, we needed the capacity to grow our job training and program service offerings. Not only did the NAI Shames Makovsky team find us a facility that meets all of our needs, they were also able to identify a buyer for 3201 Curtis St. whose values and vision for the Five Points neighborhood are closely aligned with ours.”
Women’s Bean Project moved into their new home at 1300 W. Alameda Ave. in July 2022. DHA, in partnership with Warren Village, is in the process of building family housing and supportive services on the site.
