{"id":1489,"date":"2026-06-10T21:07:15","date_gmt":"2026-06-10T21:07:15","guid":{"rendered":"https:\/\/coloradospringsmoverss.com\/?p=1489"},"modified":"2026-06-10T21:07:15","modified_gmt":"2026-06-10T21:07:15","slug":"from-abandoned-building-to-lively-hub-auroras-stanley-marketplace-on-cusp-of-new-era-with-sale","status":"publish","type":"post","link":"https:\/\/coloradospringsmoverss.com\/?p=1489","title":{"rendered":"From abandoned building to lively hub, Aurora\u2019s Stanley Marketplace on cusp of new era with sale"},"content":{"rendered":"
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Stanley Marketplace, a once long-idled industrial site in Aurora that morphed into a popular retail and community hub, is turning 10 years old. It\u2019s also on the verge of a new era as the ownership is set to change.<\/p>\n

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Stanley JV, a joint business venture that grew from three friends in the neighborhood who wanted a place to hang out, has a buyer under contract.<\/p>\n

The food and entertainment attraction, which is also a shopping market and office space, has proven to be a steady economic driver for the area in the past decade. It has also developed a loyal customer base along with a lineup of businesses that hasn\u2019t wavered much, even through the pandemic.<\/p>\n

Denver-based Magnetic Capital has talked to the owners over the past couple of years about Stanley Marketplace, said Chris Carroll, who runs Magnetic with fellow managing partner Daniel Huml.<\/p>\n

\u201cWe really focus on assets that have a great story to them, with strong fundamentals, a strong place in the community,\u201d Carroll said.<\/p>\n

With Stanley\u2019s 10th anniversary celebration coming up in August and plans to open a \u201cmini Stanley Marketplace\u201d at Denver International Airport in 2027, \u201cwe thought now is a great time to acquire the asset and really shepherd this into the next generation,\u201d Carroll said.<\/p>\n

The purchase price under discussion for the Stanley is roughly $41 million, according to a memo obtained by Axios. Both Carroll and Jonathan Alpert, a partner with Westfield Co., an owner of the marketplace, said the $41 million figure is \u201cin the neighborhood.\u201d<\/p>\n

Other proposals mentioned in the memo, including a hotel and more apartment units, are conceptual, Alpert said. The contract isn\u2019t closed yet.<\/p>\n

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Westfield formed Stanley JV with Flightline Ventures, started by the local residents working on the concept. Together, they started raising money to transform the 140,000-square-foot industrial building that housed Stanley Aviation for 53 years.<\/p>\n

The manufacturing facility in far northwest Aurora was the city\u2019s largest employer for a while. Bob Stanley started Stanley Aviation in 1948 after attending the California Institute of Technology and becoming a U.S. Navy aviator and test pilot. In 1954, Stanley moved the company to Aurora, just south of the former Stapleton International Airport, where he developed ejection seats and other equipment for the military.<\/p>\n

He died in a plane crash in 1977. The aviation company was sold and later closed in 2007. Stanley Aviation\u2019s original signs and logo remain.<\/p>\n

After it reopened as Stanley Marketplace in 2016, the 20-acre site became a catalyst for an area that Aurora wanted to reinvigorate, said City Manager Jason Batchelor.\t\t\t\t<\/p>\n

\n<\/div>\n

\u201cJust south of the Stanley Marketplace, there used to be an old tow yard that was pretty dilapidated,\u201d Batchelor said.<\/p>\n

Apartments were built on the site. A nearby shopping center, Montview Plaza, was rebuilt into a mixed-use development that includes apartments.<\/p>\n

\u201cFolks want to be near the Stanley,\u201d Batchelor said. \u201cWe\u2019ve really seen it be catalytic for reinvestment and redevelopment of the surrounding areas.\u201d<\/p>\n

The Stanley Marketplace has been an asset not only for Aurora, but the metro area, Batchelor said. \u201cI think Stanley was sort of at the forefront of the food hall movement in the metro region and I think they\u2019ve set such a high bar. Folks are trying to bottle that lightning.\u201d<\/p>\n

The city of Aurora was a driver behind turning the marketplace into reality in the first place. Batchelor, who oversaw the budget and was the finance director, said city staffers pitched the old Stanley Aviation building as the home for a neighborhood gathering spot.<\/p>\n

As mayor, the late Steve Hogan, along with other city officials, went to bat for the project when the property owners were set on selling to a manufacturer.<\/p>\n

The city also used performance-based tax increment financing through its urban renewal authority, allowing the developers to use a portion of tax revenues to fill financing gaps. Through April, the city has repaid Stanley $7.45 million in eligible tax rebates out of the maximum $13 million in the agreement, which runs\u00a0through 2040.<\/p>\n

City officials said they\u2019re reviewing a request to transfer the agreement to the buyer. \u201cThe city understands the sale is anticipated to close in August and is working with that deadline in mind,\u201d spokesman Joe Rubino said in an email.<\/p>\n

Stanley Marketplace wouldn\u2019t have happened without the city\u2019s support, said Mark Shaker, who with friends Lorin Ting and Megan Von Waldled the campaign for a neighborhood hangout. They lived in Central Park, formerly the Stapleton neighborhood, but couldn\u2019t find a spot there.<\/p>\n

After a tour with city officials of various sites, the abandoned Stanley Aviation building became their focus.<\/p>\n

The three, none of whom had development experience, enlisted other friends, family and entrepreneurs. They worked with Denver restaurateur Kevin Taylor. After the Front Porch newspaper featured their efforts, the group, which formed Flightline Ventures, started hearing from people wanting to lease spaces. The group raised $2.6 million for the property in 2014.<\/p>\n

\u201cAs we started talking to different banks, it became really clear to us that we needed a development partner,\u201d Shaker said.<\/p>\n

In 2015, Flightline teamed up with Westfield, a real estate and development company based in Denver. They became equal partners in Stanley JV, each contributing $5.2 million and taking on a $20 million loan.<\/p>\n

One of the draws for Westfield was that Flightline did \u201can extraordinary job\u201d of curating the tenancy, Alpert said. \u201cThe groups that had already signed up and wanted to be here was a cool, electric mix of local, really wonderful operators.\u201d<\/p>\n

More than half the current tenants are original lessees. Alpert said the marketplace is 98% occupied.<\/p>\n

Westfield will keep the 168-unit Stanley House apartment complex it built on the site.<\/p>\n

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Magnetic Capital will meet soon with the people running the more than 50 local businesses at Stanley. Carroll said the firm will concentrate on maintaining Stanley\u2019s role as a community hub and work with tenants on their individual goals.<\/p>\n

The company plans to add gathering places after the realignment of Westerly Creek, trails and landscaping are completed on the site. The project is part of ongoing work to increase the creek\u2019s stormwater capacity and water quality.<\/p>\n

\u201cIt\u2019s the right time for another group to come in and reinvest, put that energy in and take this thing to the next level,\u201d Alpert said.<\/p>\n

\u2018Stanifesto,\u2019 a manifesto<\/h4>\n

Karina Tittjung is one of the several tenants who learned in May of the pending sale of the Stanley Marketplace. She has been there almost from the time the doors opened in October 2016. She handled catering and special events for Rolling Smoke BBQ for seven years and then opened the pet boutique Bonez for Budz when a space became available.<\/p>\n

\u201cAfter working here for seven years, I knew there was nowhere else I wanted to open a business than Stanley,\u201d Tittjung said.<\/p>\n

While it was a scary leap from employee to business owner, Tittjung said she could count on help from a building of peers who\u2019ve become family.<\/p>\n

\u201cThis isn\u2019t just a job,\u201d Tittjung said. \u201cThis is our community This is our pack.\u201d<\/p>\n

Tittjung\u2019s sentiments echo some of those on a poster on a wall inside a main entrance to the marketplace. A manifesto named \u201cThe Stanifesto\u201d\u00a0 was written by Shaker to promote collaboration, putting \u201cgoodness into the world\u201d and spending time with family and friends.<\/p>\n

One of the line reads, \u201cWe believe there\u2019s no point in making a profit if you\u2019re not also making a difference.\u201d<\/p>\n

\u201cWe wanted a North Star that guides us and helps us make decisions when we have challenges in the future,\u201d Shaker said.<\/p>\n

The Stanifesto was attached to lease agreements. \u201cSometimes lawyers would be like, \u2018What\u2019s this Kumbaya nonsense?\u2019 \u201d Shaker said.<\/p>\n

The spirit of the message was important, Shaker added. He said the vision helped people cope with the time and expense of building a marketplace in a cavernous manufacturing facility, requiring extensive environmental cleanup.<\/p>\n

Alpert said the spirit was evident during the height of the COVID-19 pandemic when employees and business owners showed up, making deliveries by electric skateboards and tuk-tuks.<\/p>\n

Customers showed up, Shaker said. Counters at the doors in August 2020 recorded only 20% of the number of visitors that walked through the doors in August 2019.<\/p>\n

\u201cBut we had about 60% of the sales,\u201d Shaker said. \u201cWe only lost one business out of 55 during COVID.\u201d<\/p>\n

Stanley generally sees 1.3 million-1.4 million visitors per year, Alpert said.<\/p>\n

Javier and Jennifer Perez, owners of Cheluna Brewing Co., were the second tenants to move into the marketplace, but the first public-facing business. The first tenant was a preschool.<\/p>\n

\u201cWe opened in December. It was winter. There was no heat in the building yet. Most of the walls weren\u2019t up yet,\u201d Javier Perez said.<\/p>\n

Cheluna arranged to have food trucks in the parking lot. When it was too cold for the trucks to show up, the brewery worked with nearby restaurants to have food delivered. They used an industrial-size space heater to warm up the bar.<\/p>\n

Perez and other business owners are waiting to talk to Magnetic Capital. He and his wife started their business after he retired as an emergency room doctor. He said Cheluna has many regulars.<\/p>\n

\u201cWe\u2019ve known people who tell us when they\u2019re pregnant. We know the kid when they\u2019re born. And then 10 years later, we\u2019re talking to the kid about school. It\u2019s been amazing,\u201d Perez said.<\/p>\n

Caroline Glover, a 2022 James Beard Award-winning chef, co-owns the restaurant Annette and Traveling Mercies, an oyster and cocktail bar in the Stanley Marketplace. She opened Annette, her first restaurant, nearly 10 years ago when Stanley was the only place that offered her a lease.<\/p>\n

\u201cI had been looking at other spots in Denver and nobody was really ready to take a risk on somebody that never had a restaurant before,\u201d Glover said.<\/p>\n

She didn\u2019t want to be in a marketplace, but changed her mind after meeting the owners. The spot she looked at had access to the outside, so customers wouldn\u2019t have to go through the rest of the building<\/p>\n

And Glover said Shaker was excited to sign someone who didn\u2019t have other places in Aurora or Denver. \u201cI feel like when you get told \u2018no\u2019 a lot and then somebody gets excited for you, it gives you momentum.\u201d<\/p>\n

Working with other independent business owners striving hard to succeed has been motivating, Glover said. She hopes the new owners will continue the approach that has been effective through the past decade.<\/p>\n

When the marketplace changes hands, Shaker will still be there. He owns the Stanley Beer Hall. Shaker said it\u2019s natural to be a little uneasy with change pending, but he believes the new owners will continue \u201cthat same sort of community, local charm.\u201d<\/p>\n

\u201cIt\u2019s the end of an era. A lot of blood sweat and tears went into doing a project\u00a0 that most people thought was impossible,\u201d Shaker said. \u201cI\u2019m proud of where it\u2019s at, where it came from, and so I\u2019m hopeful for the next chapter.\u201d<\/p>\n

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Get more business news by signing up for our Economy Now newsletter.<\/em><\/p>\n<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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