Pathfinder Partners and Winfield Partners Complete Renovations at Iconic Gold Star Sausage Site

    SAN DIEGO, CA, September 14, 2017 /24-7PressRelease/ -- Reviving a dormant industrial space in the heart of Denver's emerging River North (RiNo) district, San Diego-based Pathfinder Partners, LLC has partnered with Denver-based Winfield Partners, LLC to complete $7.4 million in renovations to the historic Gold Star Sausage Co. factory, located at 28th and Walnut Streets.

According to Lorne Polger, senior managing director of Pathfinder Partners, his firm acquired the property - comprised of five connected buildings spanning 48,000 square feet - in October 2015, and renovations transforming the site into creative office and retail space were completed last month. "Denver's RiNo district is in the midst of a dramatic renaissance, transitioning from a stagnant industrial neighborhood into a vibrant, mixed-used community," Polger said. The revitalization of this 1930's-era manufacturing plant into contemporary, light-filled creative office/retail space has been truly transformative. The vintage buildings have been completely modernized and are now ready for tenants to put in their own unique finishes."

With a colorful history, the property was built in 1937 and originally operated as The Puritan Pie Co. Gold Star, the Colorado-based sausage company, took over the facility in 1940 and was fully operational there until 2015.

Designed by Colorado-based OZ Architecture, the adaptive reuse project now contains unique architectural features including a rugged brick facade accented by expansive steel-framed windows, sky-lit bow-truss roof systems, which have been soda blasted to restore the original appearance, and soaring 18- to 25-foot ceilings. A large, exterior loading dock has been repurposed to serve as an outdoor plaza area with seating and elevated sidewalks. The iconic Gold Star sign - situated at 28th and Walnut - remains as an enduring testament to the property's pedigree.

Currently, 16,500 square feet is leased to two tenants, Solesdi U.S., showcasing high-end European furniture, and Design Wright Studios and Artisan Rug Gallery showroom.

According to leasing broker Trent Rice of NAI Shames Makovsky, the property exemplifies the best that RiNo has to offer in an adaptive reuse development project. "Up to 28,000 square feet of contiguous office/retail space remains available for lease," Rice said. "Asking rates are $28 per square foot, and tenants are being offered a generous finish allowance to assist with the completion of tenant improvements."

Pathfinder has been active in Colorado with 14 acquisitions and nine dispositions since 2010. The company acquired two Colorado properties in 2017 - Via Del Prado/Chateau in Boulder, a combined 82 apartment units in two distinct Boulder communities; and the independent living component of Shalom Park Campus, rebranded as V-Esprit, a 104-unit independent living apartment and patio home community in Aurora.
 
For leasing information, please contact Trent Rice of NAI Shames Makovsky at 303-565-3033 or [email protected]. 

About Pathfinder Partners, LLC
Headquartered in San Diego, Pathfinder Partners was founded by Mitch Siegler and Lorne Polger in 2006 to make opportunistic investments in distressed real estate assets and value-add properties. Pathfinder has acquired or sold more than $1 billion of properties.  In addition to seeking opportunities to add value by providing liquidity to selling financial institutions, liquidating funds and fatigued owners, Pathfinder also seeks to maximize value through property enhancements, improvements in operations and marketing, property repositioning and other strategies. For more information on Pathfinder, visit http://www.pathfinderfunds.com or contact Lorne Polger at [email protected] or at 858-875-4450.
 
About Winfield Partners, LLC
Headquartered in Denver, Winfield Partners was founded by Brian Bair and Trent Rice in 2012. Winfield is an owner representative and sponsor, orchestrating planning, design and coordination between owner, architect and contractor throughout the construction process. Winfield is a new breed of project partner understanding the role of trusted advisor beginning at the due diligence stage, able to handle all lease-up, stabilization and asset disposition. Winfield's mission is to combine local expertise and opportunity awareness alongside our partners' vision and throughout the entire project.
 
About NAI Shames Makovsky
NAI Shames Makovsky has been shaping the Denver commercial real estate landscape for over 45 years by providing innovative, solution-driven services to the community. The firm's full suite of offerings includes brokerage, development, property management and lending to successfully address the most challenging real estate situations. For more information on the GoldStar building or NAI Shames Makovsky, visit http://www.naishamesmakovsky.com or contact Trent Rice at [email protected] or 303-565-3033.

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