Transwestern Real Estate Services has been awarded the property management assignment of Colorado Health & Tech Center’s location in Greenwood Village, Colorado, a 175,000-square-foot office building located at 5800 S. Quebec St.
The Transwestern team, comprised of Vice President Rene Wineland, Senior Portfolio Manager Tina Richards, Assistant Property Manager Phyllis Felix and Lead Engineer John Merrick, will provide innovative asset services activities for the building.
Transwestern was hired for the assignment by Colorado Health & Tech Centers (CHTC), which purchased the Class A office building through an affiliate, AAAD Enterprises LLC, in June 2023 for $5 million. The currently vacant building has been rebranded as CHTC-Greenwood Village (CHTC-GWV) and is being marketed for users of biotech lab, tech and biotech manufacturing, medical, health or veterinary treatment office space.
“CHTC-Greenwood Village is a perfect match for our strategy of providing build-to-suit workspaces for innovators in the medical, biotech, healthcare and tech space,” said Dr. Afshin Safavi, founder and CEO of CHTC. “We look forward to working with our tenants to create an environment in which their businesses can flourish.”
The four-story building was built in 1980 and fully renovated in 1998. CHTC plans for additional renovations and customized build-out opportunities. CHTC is within walking distance of Denver’s Light Rail Orchard Station and offers easy access to Interstates 25 and 225. Nearby amenities include restaurants and shopping.
“CHTC has an incredible vision for this property,” said Richards. “Denver has a growing base of life sciences, health and tech companies, and the Greenwood Village location will help meet the demand for office space. Transwestern has deep experience working with healthcare-related properties, and our team has years of experience with this building, which will help create a positive experience for CHTC’s tenants.”
According to research from Transwestern, as of the close of the second quarter of 2023, the Greenwood Village submarket has an inventory of 9.4 million square feet of office space with a vacancy rate of 22.9%.
