DevelopmentInvestmentOfficeProperty Management

Seattle Company Acquires Two Properties in Denver’s Largest Office Market

DENVER — Seattle-based Schnitzer West, one of the West Coast’s fastest-growing real estate investment, development and property management companies, has announced the purchase of two properties in the Denver area; Peakview Place in Centennial and 115 Inverness in Englewood. Both properties are ideally positioned near light rail stations in Denver’s southeast suburban (SES) submarket. The sales price was not disclosed.

Peakview Place is a 475,675-square-foot (10.9 acre) development site. Schnitzer West plans to develop a Class A mixed-use commercial development on the site with the first phase of construction scheduled to begin in January 2020. Peakview Place is in close proximity to a wide variety of amenities including the Fiddler’s Green Amphitheater, nearby restaurants and retail, as well as the light rail at Village Center Station.

Located a couple of miles southwest of Peakview Place, 115 Inverness is a three-story, 55,706 rentable square-foot (RSF) existing office. As part of its investment in the property, Schnitzer West will manage, renovate, address deferred maintenance and improve amenities such as creating an on-site conference facility and locker rooms. 115 Inverness is within walking distance of the Dry Creek Light Rail Station in Englewood.

“The acquisition of these two properties in Denver’s Greenwood Village and Centennial submarkets demonstrates Schnitzer West’s continued commitment to the Denver market by making strategic investments in transit-oriented micro-markets,” said Doug Zabel, investment partner, Schnitzer West. “We remain positive on the growth in the region given its convenient public transportation hubs, highly educated workforce and ample supply of residential housing. We are excited to add these properties to our existing portfolio and to increase the availability of first-class office space in the area to meet tenant demand.”

With the acquisition of Peakview Place and 115 Inverness, Schnitzer West now owns and/or manages approximately 1.5 million square feet of office space and adds to Schnitzer West’s regional development pipeline of more than 1.2 million square feet in the Denver metro area.

Photo courtesy of LoopNet

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