Office Building in Greenwood Village Sells for $10.8M
DENVER – CBRE announced that it has completed the $10.8 million sale of Republic Park I, a 91,098-square-foot office building located at 9250 E. Costilla Ave. in Greenwood Village, Colorado.
Monica Wiley and Dave Buck with CBRE’s Denver office represented the seller, Lakewood, Colorado-based LNC Investments, LLC.
“Republic Park featured a prestigious Greenwood Village address and presented itself as an excellent investment opportunity in the heart of Denver’s thriving Southeast submarket,” said CBRE’s Monica Wiley. “The suburban office asset offers the buyer tremendous growth and upside.”
Republic Park is well-located south of the Denver Tech Center (DTC) and offers convenient access to I-25 and Arapahoe Road. The property benefits from strong demographics and is walkable to retail amenities and several hotels.
Built in 1983, the six-story brick-and-glass building was most recently renovated in 2015, with upgrades completed in the building’s common areas and lobby. The property, which sits on 4.1 acres, is 96 percent leased and features a diverse tenant roster.
Following the building’s purchase by Denver-based KORE Investments, LLC, the buyer will rebrand the building KORE 9250 in addition to taking over the property’s management services.
Image courtesy of CBRE.