February 23, 2016
San Diego developer OliverMcMillan has joined forces with Invesco Real Estate to acquire Clayton Lane, a 182,000-square-foot six-building retail property in Denver.
The joint venture paid $169.6 million to seller AmCap Inc., which had paid $96 million for the property in 2006. Clayton Lane is located at University Boulevard and First Avenue in Cherry Creek, one of Denver’s high-end neighborhoods.
The new owners plan to redevelop the 5.4-acre site into a mixed-use property, complete with a pedestrian-friendly walkway.