A Las Vegas family business plans to build a 100,000-square-foot commercial condominium development near Centennial Airport, offering units for buyers ranging from personal car collectors to midsize businesses. Ventura Enterprises’ 63-unit project will be its first development in Colorado. Leor Rozen, 30, is calling the project My Dream Storage Co.
The company purchased the 7-acre property at 6507 S. Racine Circle for $3 million, a price equivalent to nearly $10 per square foot of land. The seller, Glenn McWilliams, had already secured entitlements for a similar project called GarageCondos. He will remain involved as a part-owner and investor, while also consulting on unit sales and property management.
Rozen’s broker, Charlie Cummings of Innovate Commercial Real Estate, searched across the Denver metropolitan area before meeting McWilliams. His search extended north to Broomfield before the Centennial property emerged as the location. Cummings described the relationship with McWilliams as positive from the outset and pointed to the site’s position just north of the airport as a major attraction.
For Rozen, the project addresses a gap in opportunities for smaller businesses to own their workplaces. He moved to Denver a year and a half ago and visited warehouses before completing the land purchase, knocking on doors to ask tenants whether they were interested in becoming property owners. He said the prospect drew an enthusiastic response.
The planned units range from roughly 500 to 4,000 square feet, with asking prices between $150,000 and $1.3 million. Larger units include mezzanines, and every unit has a separate electrical meter. Rozen said 30% of the development’s units have already sold, with the spaces capable of accommodating a variety of uses.
His existing Las Vegas facility offers examples of how buyers have adapted the garages. One customer created a showroom for collectible cars and installed a karaoke bar for his wife on the mezzanine. Other occupants have added golf simulators or used their spaces for specialized businesses, including dry ice car detailing.
Rozen said rising land prices and limited development opportunities in Las Vegas prompted the company to look for another market. Ventura Enterprises was founded by his grandfather, who immigrated to the United States from Israel 40 years ago. The business focuses on industrial development and has also built retail strip centers. Rozen hopes to develop more projects like the one planned for Centennial.
