Broadway Collective- Real Estate Centric CoWork Space & Company Headquarters

[Derek Marlin]

Investment Info:

Office Space commercial investment investment.

Purchase price: $1,035,000
Cash invested: $1,250,000

We purchased an extremely dated and non-functional office building to redevelop into our new company headquarters for ELEVATION and serve investors, real estate agents, and entrepreneurs throughout metro Denver. The project was a full gut as we took the 7,000 sf office building to the "studs" and completely redesigned every aspect of the property including all major systems and design elements.

The Broadway Collective houses our real estate investment companies and we are in lease up phase to find complimentary businesses which can add value to our clients and customers in the broad world of real estate. The building took just over year to complete as we permitted all aspects of the building and opened in the Spring of 2023 after waiting for the custom electrical panels to arrive from overseas. The property is home to private offices, dedicated desks, a podcast studio, conference rooms, kitchens, and common areas for inspiring work options.

Broadway Collective was created out of the necessity of our expanding companies. We are firm believers in investing in ourselves and wanted to create an intimate space where we can invest in other business owners and entrepreneurs. Our love of breathing new life into spaces was immediately realized when the “Martin Building” became available. Since our last name is Marlin, finding this building with our name on it was meant to be! Blending our affinity for both Mid-Mod and Art Deco architecture offers this space as the palette for Ann’s creative background to shine though in every detail of Broadway Collective. We look forward to our members feeling the same sense of belonging that we did when the Collective was “born” in 2022.

How did you find this deal and how did you negotiate it?

We purchased the property as an on-market commercial investment. The property fell out of contract twice before we were able to acquire it in January of 2022.

How did you finance this deal?

The property was purchased with a 25% down payment and a private note at acquisition.

How did you add value to the deal?

Every aspect of the property has been redesigned as we took the building to the "studs" and designed it from the ground up. Working with engineers, architects, commercial GC's, subs and the City of Englewood has been an ongoing endeavor and a rewarding one as we brought new life to an up and coming area of metro Denver.

What was the outcome?

We opened the space in May of 2023 as home to our new company headquarters and are currently leasing the remaining 18 private offices and 6 dedicated desks to other businesses in the area. We currently have interior designers, real estate agents, web site designers, digital marketers, executive coaches, drone photographers, and lifestyle brand as our current members. Our goal is to find lenders, brokers, insurance agents, wealth managers, and CPA's to round out our membership.

Lessons learned? Challenges?

Shoot me a message as there have been so many lessons learned in both a positive and challenging light that there isn't enough room to list on this profile ;)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We worked with brother on the buy & sell side, lenders, architects, GC's, engineers and other industry consultants who we would recommend and work with again on our next Cowork space acquisition.