INOVA II Office Building in Centennial Sells for $63.2M
California-based Libitzky Property Companies has purchased United Properties‘ INOVA II, a recently completed, trophy office building totaling 220,396 square feet in Centennial, for $63.2 million, according to property records. NOVA II is 82 percent leased and anchored by the Travelers Companies, an investment grade tenant.
INOVA II is located at 10825 E Geddes Ave., within Southeast Denver, which contains the metro area’s greatest concentration of large corporate users and internationally renowned companies.
JLL Capital Markets represented the seller, United Properties & Principal Real Estate Investors, and procured the buyer, Libitzky Property Companies.
“INOVA II offered the rare opportunity for Libitzky to acquire an ideal blend of an investment grade anchor tenancy with long term WALT and additional value creation through the leasing of available space in a growing Southeast market,” said Senior Managing Director Mark Katz. “The United & Principal team built the perfect building for this location and the quality of the tenancy is a result of that. We are very excited to watch Libitzky’s continued success with this project.”
The building features Class AA finishes, 55,000-square-foot average floorplates, state-of-the-art HVAC with dual filters, and expansive window lines and generous ceiling heights that maximize the light and the Rocky Mountain views from the building. The property offers tenants on-site amenities, including an attached executive parking garage, fitness center with showers and lockers and a shuttle to the light rail.
Photo courtesy of JLL