Transactions Report Week of 10.23.17
Cushman & Wakefiled Close Multi-tenant Office Building in Highlands Ranch
Cushman & Wakefield announced the sale of 8822 South Ridgeline Boulevard, a 76,369-square-foot multi-tenant office building located in Highlands Ranch. According to Steve Schwab, managing principal of the firm’s Denver office, the property sold for $8,000,000.
Jon Hendrickson and Aaron Johnson, managing directors with the Capital Markets Team at Cushman & Wakefield’s Denver office, had the exclusive listing to sell the property on behalf of a non-traded real estate investment trust.
“The property epitomizes a value-add acquisition, and what many of our private capital clients are seeking. There are physical improvement opportunities and amenity additions that will lead to increased occupancy, efficiency and value,” said Hendrickson. “The surrounding area continues to improve with the Central Park development and UCHealth Highlands Ranch. The leasing team will now be able to market a value proposition that few southwest buildings can offer their tenants. The acquisition is a true value-add purchase.”
The property was 70 percent leased to eight tenants at the time of sale, including the largest tenants: Software AG, Lasater & Martin and Solutions II.
Pinnacle Announced the Sale of 9493 W 14th Avenue in Lakewood
Pinnacle Real Estate Advisors, LLC announced the sale of 9493 West 14th Avenue in Lakewood. The 8-unit property, built in 1957, sold for a contract price of $1,475,000; $184,375 per unit and $157.75 per square foot.
The property, located just 2 blocks from the Garrison Light Rail Station, featuring large two and three bedroom units, with a large courtyard, off-street parking and a brand new roof.
Robert Lawson, Senior Advisor with the Knowlton│Lawson Team, represented the seller in the transaction.
NavPoint Real Estate Group Sells 4.29 Acres of Land in Littleton for $1,870,575
NavPoint Real Estate Group announced the sale of 4.29 acres of land at 1501 W. Mineral Ave in Littleton. The seller was Conservative Baptist Foreign Mission Society. The buyer was LCO SL Realty LLC. Heather Taylor of NavPoint Real Estate Group represented the buyer.
This deal successfully closed in October 2017. The property is conveniently located off W. Mineral Ave and Southpark Lane about a mile from C-470.