11/1/20 – Global Pacific Acquires the Ironton Distillery in RiNo
3636 Chestnut Place, Denver CO 80216
Denver, CO., Nov. 1, 2020 /Press Release/ — Global Pacific is pleased to announce the acquisition of the property located at 3636 Chestnut Place in the River North Art District of Denver, Colorado.
Global Pacific acquired the property and leased it back to the current tenant – Ironton Distillery and Crafthouse, which will continue to operate onsite as a premier Denver distillery pub with an expansive tasting room and food menu. Ironton is known for its award-winning spirits, and one of the largest outdoor patios in Denver. Ironton also offers a unique year-round venue for events, weddings, and festivals. “As a family-owned business similar to ours, Global Pacific was great to work with and this disposition enables us to focus on the Ironton brand and growth in coming years,” explained Lance Peterson, Co-founder and Managing Member.
The property sits on approximately 0.75 acres and is conveniently located along the Platte River in RiNo, with views of the mountains and downtown Denver. The surrounding infrastructure being currently developed – such as RiNo Park, River Promenade and Globeville Park in addition to the currently existing distillery, breweries, and restaurants, will make this area a premier pedestrian destination within the city of Denver. Global Pacific’s longer-term plans are to redevelop the property and partner with Ironton Distillery to incorporate a distillery pub on the first floor.
“This acquisition is well-aligned with our investment strategy to target core, infill properties that are highly sought after by tenants and positioned to perform over time. This site is an attractive future development as the RiNo community continues to evolve around it.” explains Mike Tignanelli, Vice President of Global Pacific.
RiNo is one of the top neighborhoods in Denver known for its industrial revitalization, blending arts and culture with urban charm. Home to many of the top artist, furniture manufacturers, breweries, craft distilleries, coffee roasters, and food halls. RiNo is a must-see for visitors and locals alike, catering both a vibrant social scene and nightlife experiences.
About Global Pacific
Global Pacific acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office, industrial, flex warehouse, retail and multi-family buildings primarily in the Denver, Colorado area. For more than 30 years, the company has operated a vertically-integrated real estate platform to provide comprehensive solutions to maximize return on investment for its ownership. Additional information is available at www.gpproperties.com.