Development Potential Abounds as Pepsi Sells 30-Acre Site in Denver's RiNo Neighborhood

A massive Pepsi bottling facility in Denver is for sale," reports Thomas Gounley. The 29.9-acre site is located in the River North Art District, or RiNo, in Denver. PepsiCo has hired CBRE to market the property, using the speculative term "RiNo's landing." The development potential of the city is already substantial, according to the city's zoning code and given its proximity to Regional Transportation District (RTD) service.

"The site is currently zoned for industrial use. It is a short walk from RTD’s 38th and Blake station. A zoning overlay district established by the city around the station allows for redevelopment up to 12 stories on Pepsi’s property if certain requirements are met. The property is also within a federally-designed opportunity zone."

Pepsi has already been selling off land in the area, adds Gunley, as have other large property holders in the area. In 2019, "Pepsi sold two large parking lots across the street from the bottling facility, totaling 3.77 acres, for $36 million. Days later, in the Denargo Market section of RiNo, 13 largely undeveloped acres sold for $86 million. And in December of that year, McWhinney paid $20 million for 2.56 acres next to Great Divide Brewing."