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8.5-Acre Property Ready for Charter School, Residential Redevelopment, Suburban Infill
DENVER, July 25, 2017 – JLL has listed Zerger Elementary, owned by Jefferson County Public Schools, for $4.7 million. Located at 9050 Field Street in Westminster, Colorado, the 8.5-acre property includes a 43,563-square-foot school building which was closed in 2011 by Jeffco Schools because of low enrollment. .
"This property is ideally located in a prime residential area, close to attractions including Standley Lake and the rejuvenated Downtown Westminster," said Jason White, broker associate with JLL. "Even before hitting the market, we've received significant interest from buyers who see potential for this site and we have already begun fielding offers from users and developers of various types. Whether looking for an existing property for a charter school or imagining the site for redevelopment, you can't beat the location."
The Zerger Elementary property, built in 1977, is currently zoned as quasi-municipal, so any potential redevelopment opportunity other than a school would have to go through the city's rezoning process, added White. The property, listed at $107.89 per square foot, features 8.5 acres of developable property with infrastructure already delivered on site, an adjacent local park, and the school has a published capacity of 480 students.
Zerger Elementary is the third school to hit the open market in 2017. 2001 Hoyt Street was approved to be marketed by Jefferson County in February 2017. 2949 N Federal Boulevard was slated for disposition by Denver Public Schools after DPS pulled 75% of Escuela Tlatelolco's, a dual-language charter school, funding in June 2016.
9050 Field Street is less than three miles from the planned redevelopment of the 105-acre former Westminster Mall site into the new Downtown Westminster. Located at U.S. 36 and Sheridan Boulevard, Downtown Westminster will be the epicenter of major bus rapid transit corridors and hundreds of miles of bike ways. In addition, the development will include distinctive parks and open spaces along with retail, office, hotel, civic and residential uses.
JLL Broker Associates Jason White, Patrick McGettigan and Mitch Zatz are representing Jefferson County Public Schools in the disposition of the property. For more information on JLL's Rocky Mountain Region, please visit: www.jll.com/denver/en-us.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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