Central Development’s Manufacturing Plant will Generate New Jobs for Douglas County

By Alex Girda, Associate Editor Real estate news in Denver this week seemed fairly consistent and did not contain any groundbreaking changes in the pace of the market. Probably the most encouraging bit of news was Polystrand’s announcement regarding the construction of [...]

Real estate news in Denver this week seemed fairly consistent and did not contain any groundbreaking changes in the pace of the market.

Probably the most encouraging bit of news was Polystrand’s announcement regarding the construction of a new manufacturing plant. The $14 million project will be the first to kick-start activity at HighField Business Park in Douglas County. Polystrand officials were quoted in The Denver Post as saying that the central location of the business park and its proximity to transportation was the main argument for their choosing HighField.

The 120,000 sq. ft. building will include office space and will be developed southeast of Centennial Airport by Central Development. After its completion, the plant will generate approximately 240 new jobs for Douglas County.

Luxury real estate was represented in Denver news this week with the completed sale of 25 high-end apartments above the Ritz-Carlton at 1891 Curtis Street. Initially developed from hotel rooms, the project was meant to become the Ritz-Carlton Residences. The recession foiled those plans and forced the developer to sell the units to Goldman Sachs, the current seller. The buyer for the 25 luxury apartments is The Lynd Company, whose managing partner was quoted in The Denver Business Journal as saying that the units achieve a level of unparalleled luxury largely due to their location.

The Lynd Company is a San Antonio based real estate investment firm and, along with J.P. Morgan Asset Management Inc., closed the deal for the luxury residences for an undisclosed amount.