Bennett Lumber Site changes hands

The Finance & Commerce reports that the major multi-family building owner/developer Greystar purchased the eastern Bennett Lumber site from Uptown Aurora Properties LLC and JPG-OFG LLC, who local commercial real estate executive Jim Gearen was behind.

The site includes 2828 Emerson Avenue S, 2828 Dupont Avenue S, and 2836 Colfax Avenue S. The article said there was no information as to whether any of the proposed apartments that Gearen outlined would be constructed or not. However, in my opinion, the fact that a major owner/developer of apartments bought the site, there is a good likelihood that something will happen.

Update 1/24/12: Finance and Commerce updated their story to say the purchase was only for the eastern parcel. Gearen and his partners retained their ownership of the western two parcels.