"We definitely consider this consolidation to be a 'win-win-win' situation," Sidell tells GlobeSt.com. "Food vendors have the opportunity to be in a fresh, new setting with a higher concentration of customers; the Downtown Denver lunch crowd will benefit from having more food options located in a single, convenient setting; and Gart Properties will have the opportunity to identify a tenant that would benefit from the strategic location of this space."
Gart Properties anticipates considerable interest in the space with its central Downtown address and its corner location that serves as a stop for both light rail and the free 16th Street Mall shuttle.
"In addition to its sought-after location, this intersection boasts the highest pedestrian traffic count Downtown and the potential to be a real showcase location for the next tenant," Sidell says. Approximately 7,000 people pass the intersection from 11:30 a.m. to 1:30 p.m. each weekday, according to the Downtown Denver Partnership.
Ideally, a tenant would like to be on the ground floor, while the food court is on the second floor, Sidell notes. But he says that a tenant ultimately will pay less for second-story space than comparable space on the ground floor.
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