The Koll Company Pays $15.8M for RK Mission Critical Building

RK Mission Critical Building was honored as ‘The Outstanding Building of the Year’ by BOMA for Greater Denver in 2023. Credit: The Koll Company

The Koll Company, a well-capitalized full-service real estate operating company headquartered in Irvine, California, has expanded into the Denver market with a $15.8 million, all-cash purchase of the RK Mission Critical building at 17450 East 32nd Place in Aurora. This is the company’s first acquisition in Colorado since 2007 and marks the seventh state in which they own property (CA, AZ, NV, OR, UT, MN). 

“We are excited about expanding our portfolio to the Denver market in Colorado,” said Scott Meserve, principal of The Koll Company. “This market’s fundamentals ended 2024 strong with low, decreasing vacancy rates, sustained leasing activity and strong positive absorption outpacing new supply for the first time in 18 months. With our long-term view on this asset, as well as the overall market, we look forward to owning the property for the foreseeable future.”

Meserve added, “Over the last seven years, we have been building out an industrial portfolio focused on the Western US, closing numerous investments that have brought our collection to just under 6 million square feet. As part of that strategy, we have been eager to strategically enter the Denver market and this deal afforded us the perfect opportunity. The 6.21% cap rate and low basis per square foot are what attracted us to this deal and made it the right fit.”

The 142,413-square-foot, single-tenant industrial building was honored as ‘The Outstanding Building of the Year’ by BOMA for Greater Denver in 2023. RK Mission Critical, a subsidiary of RK Industries, is the building’s sole tenant through 2029. A global provider of custom-engineered modular solutions, RK Mission Critical is a single-source provider with the experience and knowledge to conceive, design, engineer and manufacture the right modular building for businesses. The building has recently been upgraded with a new roof, asphalt, loading areas and office improvements. 

Aurora, the third-most-populous city in the State of Colorado, is home to a number of key employers, including the Buckley Space Force Base, Anschutz Medical Campus, Children’s Hospital Colorado, University of Colorado Hospital, Raytheon Technologies, Kaiser Permanente, Amazon, Northrop Grumman and the Lockhead Martin Corporation.

Colliers brokered the transaction, representing both the seller and purchaser. 

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