The Gates Corporation has reached a definitive agreement to sell a 50-acre portion of its Denver campus to Cherokee Investment Partners.

The sale includes all of Gates’ property west of Broadway and is the largest sale of land in the Denver metropolitan area in many years. 
 
“We are pleased to reach an agreement with a financially strong, national investment firm offering the requisite skills critical to a successful redevelopment of the property while remaining sensitive to the needs of the Denver community,” said Brian Harris, Gates’ Chief Financial Officer.  A spokesperson for Cherokee indicated that they are looking forward to closing the transaction and beginning the process of master planning and redeveloping this 100-year-old industrial property.  Cherokee believes the site offers tremendous opportunity for a fully integrated, urban mixed-use transit oriented development in one of the most strategically important locations in the city of Denver. The sale is expected to close on December 18th.

Gates is a diversified manufacturer of automotive and industrial products and systems components. It was founded in Denver in 1911 and expanded over time to include manufacturing operations throughout the world. Gates is a member of The Gates Group of Companies, which is owned by Tomkins PLC, London.
Cherokee Investment Partners, a private equity investment fund, is an active investor throughout North America with significant ties to the Denver business community. Gates Corporate Headquarters will remain in Denver.