BrokerageInvestmentOfficeRenovation

North Beacon Capital Acquires Golden’s Cole Center for $32.7M

North Beacon Capital, LLC has purchased Cole Center, a 155,610-square-foot recently renovated office building in Golden, for $32.7 million. JLL Capital Markets represented the sellers, Bancroft Capital and Viking Partners, in the sale.

Renovated in 2021, Cole Center is a four-story, multi-tenant office building offering a re-imagined lobby and upgraded building features. On-site amenities include an outdoor plaza with covered seating, 201 subterranean parking spaces, a brand-new fitness center with showers and lockers and on-site bike storage. The property is 88% leased with 75% of those tenants being investment-grade.

The property is located at 1687 – 1707 Cole Blvd. The 5.73-acre site is positioned just off the intersection of Interstate 70 and Denver West Pkwy. offering connectivity to the entire Denver metro area.

The JLL Capital Markets team representing the seller was led by Managing Directors Larry Thiel and Jason Schmidt.

“After a thoughtful renovation, Cole Center became recognized as a top-tier asset in the West Denver submarket,” Thiel said. “Even in a challenging leasing and sales market, Cole Center attracted the highest quality tenants and premium investor pricing.”

North Beacon Capital, LLC, is an asset management firm focused on delivering absolute returns from a diversified group of investments, including real estate, securities, and private funds. Presently our focus is in the areas of student housing, commercial office space, and net lease industrial property.

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