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DENVER — Forum Real Estate Group has acquired a retail building, formerly occupied by Kmart, in Denver. J&W Management Corp. sold the asset for $10.5 million.
Located at 2150 S. Monaco Parkway, the 110,000-square-foot property has been vacant for nearly seven years. Forum Real Estate is planning a more than 300-unit multifamily redevelopment with the possibly of new retail outparcels at the site.
Jon Hendrickson, Mitch Veremeychik and Aaron Johnson of Cushman & Wakefield’s Capital Markets Group facilitated the transaction.