Tuscany Village Center, a 257,875-square-foot office property in Greenwood Village, has sold for $64.85 million.
JLL marketed the property on behalf of the seller, Crescent Real Estate, and procured the buyer, who was not disclosed at the time of publication. In addition, JLL worked on the new owner’s behalf to place a $50.97 million acquisition loan with a national debt fund.
Tuscany Village Center consists of two wings connected by a high-impact atrium lobby set on beautifully landscaped grounds. The property is located at 6312 S. Fiddlers Green Circle in heart of the Fiddler’s Green micro-market, which boasts a high density of large corporate users and immediate walkability to a multitude of amenities, including more than 20 restaurant and retail options and lifestyle entertainment options, including Fiddler’s Green Amphitheater and the Museum of Outdoor Arts. The property is also near the Arapahoe at Village Center RTD light rail station that provides connectivity to the Denver CBD, Denver International Airport and population centers to the south such as Lone Tree and Castle Pines.
Originally constructed in 1984 by Colorado-based John Madden Company, Tuscany Village Center features timeless architecture with each floorplate offering impressive light and mountain views with nine-foot finished ceiling heights, 13-foot slab-to-slab heights and efficient layouts. In the last year alone, 145,000 square feet of leasing has occurred demonstrating the property’s desirability.
The JLL Capital Markets investment advisory team representing the buyer was led by Senior Managing Director Mark Katz and Senior Director Peter Merrion.
JLL’s Capital Markets debt placement team representing the new owner consisted of Senior Director Leon McBroom.
“Tuscany Village Center is one of the most well maintained and unique office buildings in the Southeast Denver submarket,” Merrion said. “Investors appreciated the innate quality of the building, the incredible location on Fiddler’s Green Circle and the strong leasing demand seen throughout the marketing process. The buyer will be able to capitalize on these features by owning this special property.”
Photo courtesy of JLL