63 acres. Two national anchors. 370 residential units. One former telecom campus turning into one of Littleton’s most-watched CRE plays — and this month’s council vote just changed the anchor lineup.
At SVN Denver, we track the deals and entitlements that move a submarket before they show up in the headlines. Mineral Place, the redevelopment of the former Lumen/Qwest campus at 700 W. Mineral Ave. in Littleton, is a textbook case of adaptive reuse driving retail and multifamily absorption in the south Denver metro — a pattern we’ve also tracked at a similar mixed-use retail-and-residential play at Marina Square — and the last 90 days have brought some of the most consequential news yet.
| Address | 700 W. Mineral Ave., Littleton, CO |
| Site size | 63 acres (former Lumen Technologies/Qwest campus) |
| Commercial component | 45 acres — Costco (160,000 SF + fuel), Scheels (300,000+ SF), 9 retail pads |
| Residential component | 18 acres — The Sullivan, 370 units (1-3BR, 19 affordable) |
| Ownership | Republic Investment Group (commercial); Embrey (residential) |
| Delivery | Phased, beginning 2026 |
| Design/Build | Galloway (architect/engineer); Saunders Construction |
Republic Investment Group acquired the 63-acre site for $50M and executed a disposition strategy that’s worth studying: Costco paid $5.8M for 18.5 acres ($313,514/acre), while Embrey paid $17.1M for 17.5 acres ($977,143/acre) — a spread that underscores just how much more multifamily land is commanding relative to big-box retail parcels in this corridor right now.
The Anchor Reshuffle: What Changed
The commercial lineup at Mineral Place has been anything but static, and the intelligence here matters for anyone underwriting nearby retail or evaluating the corridor’s trade area.
Costco is under construction, timeline extended. The warehouse structure is now visible on-site, but the public opening has moved from late 2026 to March 2027 on the back of construction delays — a data point worth factoring into any absorption model for adjacent retail pads.
Scheels replaces the home-improvement anchor — and it’s now official. The second anchor slot, previously earmarked for a home-improvement retailer, has gone to Scheels. The North Dakota-based sporting goods retailer is planning a 300,000+ SF flagship — its first Denver-metro location — on 14.4 acres. Littleton City Council approved the accompanying incentive agreement 6-1 on September 15, and Scheels confirmed the deal publicly the following day, with an opening targeted for 2029 and 500+ projected jobs. This is a significant demand signal: destination-format retailers of this scale are still underwriting new-to-market entries in south Denver, even amid broader retail caution elsewhere.
Portillo’s pad has stalled. The drive-thru restaurant slated for the development’s entrance appears to be dormant. City planning staff report the tenant requested and then canceled a pre-application meeting, with no further activity since — consistent with a broader pullback in the chain’s previously announced three-site Colorado expansion. Worth flagging for any broker tracking that pad’s leasability.
The Sullivan is nearing the finish line. The 370-unit residential component is reportedly close to completion, positioning it as the first major delivery at Mineral Place and an early test of lease-up velocity in a submarket about to add significant new retail draw.
Why This Matters for the Corridor
Mineral Place doesn’t sit in isolation. It’s adjacent to the Santa Fe & Mineral Avenue intersection — one of Littleton’s most congested, now the subject of a $21.4M quadrant-roadway upgrade designed to handle the added traffic this development and others nearby (River Park, Aspen Grove, the Equine Medical Center site) will generate. That’s a strong signal of coordinated public investment following private capital into this corridor, which is exactly the kind of alignment we look for when evaluating submarket momentum.
The takeaway: A vacant 63-acre telecom campus is converting into a 68-acre* retail-and-residential node anchored by two national destination retailers and nearly 400 new residential units — with public infrastructure dollars following. For owners, tenants, and investors active in the south Denver metro, Mineral Place is a corridor to watch closely through 2027-2029 as each phase delivers. For more on how Douglas County’s destination-scale projects are shaping secondary CRE demand, see another Development Spotlight breakdown, the Zebulon Regional Sports Complex.