FOR IMMEDIATE RELEASE
Media Contact: Wendy Schechter or Jen Galluzzo
Harrison Edwards PR
(m) 917-687-9696 / (845) 663-3566
wschechter@harrison-edwardspr.com / jgalluzzo@harrison-edwardspr.com
Growth Market Plus Amenities and Excellent Location in a Victorian/Western Suburb of Denver Add to Property’s Appeal
(Parker, CO…. April 2023) …………….With Colorado experiencing continued growth in its commercial and residential markets because of its economic, geographic, environmental, and recreational advantages, there is good news for investors, especially in towns like Parker, just 25 miles south of Denver, where Ascent on Main, a 4-story independent boutique hotel with multiple revenue streams, has just come on the market.
Located in the heart of a thriving Western/Victorian-designed town, Ascent on Main contains 51 exceptionally appointed guestrooms, several inviting public spaces, plus a rent roll from 3 strong retail tenants with value-added options and potential returns in excess of 20%.
“Parker has seen considerable growth in its economy – 2.8% job market increase in the past year — due to its booming technology sector plus multiple start-ups,” notes Matt Bordwin, Principal and Co-President of Keen-Summit Capital Partners LLC, which with Avison Young, has been retained as the exclusive agents offering the fee simple/tenancy interest in the property at 18595 Mainstreet.
“That and the fact that Parker is located 15 minutes from the Denver Tech Center, 30 minutes from downtown Denver and only 40 minutes from Denver International Airport, and offers excellent hiking, fishing, horseback riding, biking and mountain biking, wellness programs, proximity to skiing, family-friendly activity, and spectacular views of snow-capped mountains to the west (Pikes Peak, Longs Peak and Mount Evans are all in plain sight) make Ascent on Main an especially attractive investment,” he adds.
He also pointed out that there is continued demand for light industrial and flex space in Parker, and that future job growth over the next ten years is projected to be 48.9%, according to the town’s Economic Development Plan. Parkers population has grown 143.8% since 2000. CNN Money rated Parker, Colorado as #2 on their “2020 Best Places to Live in America” list.
Bordwin says there are various options for purchasers of Ascent on Main, namely for the hotel to remain independently-owned, or potentially franchising under several other soft branding options in the industry, such as Tapestry by Hilton (who has completed a PIP) or Tribute by Marriott.
The new owner may wish to improve the F&B operations of the three outlets and work to grow revenue or lease the F&B space to 3rd party operators.
Ascent on Main features:
- Three F&B outlets (The Douglas, Upper Deck, and The Summit) vertically aligned at the corner of the building and presently run by the current operator.
- Pedestrian-friendly open-air promenade
- Planned residential and retail developments in Parker as part of Phase Two Development
- ADR and REVPAR are outpacing the competitive set when bench-marking
- The retail spaces surround the hotel: The West Main Taproom + Grill, Doug’s Diner, Victoria Marie Jewelry store and Leffy’s Cigar Emporium
| Building Class | B |
| Lot Size | 1.64 AC |
| Building Size | 57,332 SF |
| No. Rooms | 51 |
| No. Stories | 4 |
| Year Built | 2019 |
| Parking Ratio | 0.91/1,000 SF |
| Corridor | Interior |
For further information, please contact the following at Keen-Summit Capital Partners LLC:
Matthew Bordwin, at 646-381-9202; Chris Mahoney, at 646-381-9205; or Heather Milazzo,
646-381-9207.
About Keen-Summit Capital Partners LLC
Keen-Summit Capital Partners LLC is a real estate brokerage, workout and investment banking firm specializing in exceptional situations, restructurings, bankruptcies and receiverships, with offices in Manhattan and Melville, NY and Chicago, IL. Keen-Summit Capital Partners LLC represents property owners, retail and commercial tenants, commercial and industrial businesses, investors, developers, and creditors across various industries. Clients benefit from its reputation for excellence and integrity, extraordinary industry experience, in-depth market knowledge, time-tested business approach, deep industry relationships, workout and bankruptcy expertise, and exceptional execution capabilities. For more information about Keen-Summit Capital Partners, call 646.381.9222 or visit www.keen-summit.com.
