A joint venture between Ascentris and Cypress Office Properties has acquired Central Park Tower, a 297,262-square-foot, Class AA suburban office tower in Broomfield.
The joint venture is planning to renovate the building that will include upgrading and expanding the fitness center, as well as the addition of an outdoor amenity feature with seating, gaming and collaboration areas. The building is currently 89 percent leased to eight tenants and anchored by Webroot, a leader in cybersecurity.
Completed in 2010, Central Park Tower is one of only a few true Class AA office towers in the Denver metro and is the highest quality building in the burgeoning Northwest market. The LEED® Gold property boasts features and amenities not found in nearby properties, including an underground executive parking garage, hospitality-inspired tenant lounge, on-site fitness center with club-style locker rooms, a building conference center, local coffee shop and café and outdoor seating on a furnished patio.
Located at 385 Interlocken, the trophy property sits on the western edge of Interlocken Business Park and boasts incredible views of the Boulder Flatirons and Rocky Mountains. This location is centrally positioned between Boulder and Denver providing area companies with access to a deep pool of tech and engineering talent, among other industries. Central Park Tower has visibility from U.S. 36, that has a daily traffic count of more than 100,000 vehicles and is located in an amenity-rich area with numerous retail, entertainment, lodging and recreational amenities.
The JLL Capital Markets team marketed the property and procured the buyer, led by Senior Managing Director Mark Katz, Managing Director Leon McBroom and Senior Director Peter Merrion.
“The resiliency of the Northwest submarket and the strength of area tenant demand position Central Park Tower to attract additional occupancy and further bolster the income stream at the property for years to come,” Merrion said.
