Developer purchases RiNo parcels for $2 million

DENVER — A developer has paid about $2 million for three parcels of land near the 38th and Blake light rail stop in RiNo.

Zakhem Real Estate, based in Denver, paid $1.27 million for 3701 Marion St. and $400,000 for 3717 Marion St. earlier this month, according to BusinessDen, which cites county records. Last summer, the developer purchased 3721 Marion St. for $385,000.

Together, the parcels are about 0.42 acres. The managing partner of Zakehm Real Estate, John Zakhem, told BusinessDen that the company wasn’t sure what it would build on the site, but that it would be a residential project.

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Zakhem has made other purchases in the RiNo area, included a site on Blake Street for $3.4 million last summer. It’s also developing a three-story apartment building at 5000 W. 38th Ave.