Chicago firm planning off-airport parking pays $19M for land near DIA

Chicago-based InterPark is pulling into the airport real estate arena with a nearly million land deal The company which describes itself as the largest operator of parking real estate in the United States bought a -acre lot on the southeast corner of th Avenue and Jackson Gap Street late last month for million or about an acre or a square foot according to society records InterPark did not respond to a request for comment Plans submitted to Aurora indicate the company wants to construct a -space parking lot for its PreFlight Airport Parking brand The land is a -minute drive to the airport and borders another parking lot to the east It is part of the broader Porteos master advance area spanning square miles from th Avenue to th Avenue We ve sold the greater part of it so we only have a couple of hundred acres left revealed Bill Wichterman managing agent for Porteos Wichterman who declined to talk about the InterPark transaction mentioned the remainder of the evolution will be dedicated largely to hospitality and retail uses that patronage the large industrial users in the area which includes Costco FedEx and Kroger This is really the development engine and the epicenter of industrial distribution manufacturing for this area I think you re going to see this kind of maturation continue all the way out to Front Range Airport Wichterman disclosed using the former name for the Colorado Air and Space Port which lies about miles to the east of InterPark s site The advance group that owns the remaining Porteos properties purchased the land in and is now under contract to sell its holdings to a new funding partnership Wichterman explained Related Articles Trump s tariffs creating stiff headwinds for Colorado outdoor industry Real estate solution company Yardi Systems Inc countersued by ex-landlord in Centennial Pepper Pong encounter of Shark Tank fame lands in Dick s Sporting Goods and Scheels stores U S Patent and Trademark Office will close its Denver location Renee Brinkerhoff sues says ex-husband and contractor sought La Loma restaurant takeover The land has become more valuable over the years The original investors picked up the property for per acre Now prices are calculated by the square foot and land near DIA won t go for less than a square foot which averages to an acre Wichterman commented It s been a terrific expenditure but it didn t feel that way until Wichterman reported when four sales closed That s when I no longer woke up in the middle of the night thinking I d lost all my family s money Not a single transaction occurred in the first six years of ownership through In Walmart bought a large block that has yet to be developed and three deals closed in In the past year Amazon has purchased acres there for future projects Get more business news by signing up for our Market system Now newsletter