CapRidge Partners Now Largest Investor in Northwest Denver Office Market
With the purchase of 10955 Westmoor Drive, and 11400, 11300, and 11000 Westmoor Circle in Westminster, CapRidge Partners is now the largest owner in terms of square footage in Northwest Denver market. Their complete portfolio is now 633,042 square feet.
Building 7: 10955 Westmoor Drive – 205,013 square feet
Building 8: 11400 Westmoor Circle – 133,352 square feet
Building 9: 11300 Westmoor Circle – 133,352 square feet
Building 10: 11000 Westmoor Circle – 161,325 square feet
The name 10955 Westmoor Drive will be changed to Westmoor Place 7 to align with the remainder of their Westminster portfolio. Features of the portfolio include redundant power and fiber optic loop in all buildings as well as an extensive amenity package for all tenants. Features of this building include stunning mountain views, showers and lockers on every floor, receiving lobby and over 10-foot ceilings. Westmoor Place 7 was awarded an Energy Star label seven years and counting for its operating efficiency. In 2009, Westmoor Place 7 was awarded LEED certification by the U.S. Green Building Council.
Kevin Black, Chief Operating Officer at CapRidge said, “CapRidge is excited to expand its presence in the Denver market. The Northwest submarket is appealing due to location between Boulder and Denver, access to a talented employee base, proximity to several expanding neighborhoods with attractive housing markets, and the prevalence of both growing and established tech, aerospace and telecom companies. Combining the four buildings into one portfolio will allow for efficiencies in staffing, operations, and amenities.”
The acquisitions mark the latest investment in the Denver market for CapRidge, an office investment and management firm out of Austin, Texas, whose area holdings also include the Solarium and The Terrace Building in Greenwood Village, and 4949 S. Syracuse in Denver. Don Misner and Joe Heath of JLL have been retained to lease the portfolio on behalf of CapRidge.
“With vacancies ranging from 5,000 to 200,000 square feet, Westmoor Place provides a great opportunity for tenants to thrive in Northwest Denver,” says JLL Senior Vice President Joe Heath.
CapRidge Partners is a fully integrated investment management and operating company focused on value- add office properties in nine select U.S. markets, including Denver. Their strategy is to acquire well-located assets, below replacement cost, that offer opportunities to add value by providing proactive management, delivering enhanced customer service and wellness amenities, leasing to stabilized occupancies, marking-to-market expiring leases, and completing capital projects.