| Type | Commercial |
| Status | In Progress |
2710 Walnut St
Leveraging a decade of adaptive reuse in RiNo, Mainspring is converting
2710 Walnut from underutilized office space into vibrant retail storefront.
Through the improvements and re-tenanting, we will enhance and restore
the building’s architectural features, activate the streetscape, and add to
the retail cluster already defining the Walnut corridor.
| Location | RiNo, Denver CO |
| Year | 1940 |
| Team | Bryant Fink Architecture and Design Jordy Construction |
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Property Conversion Strategy
2710 Walnut presented itself as a classic adaptive reuse opportunity. Built out and tenanted as office, Mainspring saw the opportunity to convert the property to a higher and better use.
The office market in RiNo, along with the rest of Denver, was sitting at about 40% vacancy, garnering NNN rents in the high teens. Retail, on the other hand, was experiencing historic low vacancy, particularly in the 2-block radius where the property is located in which other owners had already invested more than $150 million to create a concentrated, walkable retail cluster in the 2600-2700 blocks of Larimer and Walnut. Retail rents in that micro-market were commanding more than double office rates.
Mainspring used this attractive investment opportunity to raise equity from outside investors for the first time in its 10+ year history.
With the property under contract for purchase, the Mainspring team
identified targeted retailers and made direct inquiries to try to secure an ideal tenant mix for the property.
Before we were even under construction, tenants had already been confirmed for the renovated space.
Additional project updates will be provided as we proceed with the renovations and operations.
