Landmark Nursery Sells for Nearly $2M

DENVER-Harrison Place LLC, headed by Julie Hansen, an agent with Coldwell Banker Devonshire, paid $1.57 million for a 19,000-sf Veldkamp's Florist & Greenhouse at Third Avenue and Harrison Street. The nursery will be razed and has already been closed to make way for a luxury development.

"I bought a nursery," Hansen tells GlobeSt.com "This is my first development, but I have a number of private investors who are very experienced--some have more than 30 years of experience."

The exact details are being worked out, she says. One plan calls for six townhomes, which probably would have about 3,000 sf each and sell from $1.2 million to $1.5 million. They also might build an undetermined number of condominium units that would likely be priced at nearly $1 million, she says. "A lot depends on the process we go through with the city and the neighborhood and the architect," she tells GlobeSt.com. "We're hoping to have underground parking, as parking is a very big issue in Cherry Creek."

Whatever shape and style of the units, she says they plan to raise the bar for design and features. They will have modern security and internet features, she says. Ben Veldkamp IIII, president and CEO of Veldkamp's 1-800 Flowers, sold the site. He is looking to open a retail flower store in Cherry Creek North.

Commercial Capital Inc., headed by Matt Witt, is handling the financing. Marc Lippitt and Scott Shwayder, principals of Unique Properties LLC were the exclusive listing agents for the property and handled the transaction for the parties involved. Leslie Toepfer, of Leslie Gartrell Toepfer, was Veldkamp's attorney on the transaction.

Hansen sells homes in Cherry Creek and other high-end neighborhoods such as Congress Park, Washington Park and Country Club. "Those neighborhoods are still going gangbusters, although I know you can't say that about every area," Hansen tells GlobeSt.com. "If anything, we have a problem with a lack of supply."