Colorado Christian University (CCU) recently paid $5 million for a 35,741-square-foot office and medical building—formerly known as Key Bank Plaza—located at 333 S Allison Parkway in Lakewood, just one block from the amenity-rich Belmar regional shopping mall. CCU plans to use the building for its main offices and the future site of its nursing school.
Built in 1987 and meticulously maintained, the property is a three-story brick office building that will serve as an outstanding base for the new owner to expand their operations. The buyer was attracted to the building’s ease of access to highways, proximity to nearby shops and a King Soopers-anchored development, as well as the amenities in the building including tall ceilings, private patios, showers, locker rooms, and tenant storage. The building has excellent visibility and signage opportunities facing both Alameda Avenue and S Allison Street.
Kenai Capital Advisors, an investment sales broker and capital markets advisor based in Littleton, represented the seller.
“This transaction was an exceptional example of market efficiencies today,” said Garrett Neustrom of Kenai Capital Advisors. “Both seller and buyer quickly and reasonably identified the value and opportunity in the property and got the deal done efficiently. 333 S. Allison was listed by Kenai Capital Advisors for lease or sale, and according to Jules Sherwood of Kenai, “There was a strong level of interest from potential tenants to lease space at the property, but ultimately selling the building was the best fit for the asset.”
The buyer was represented by Bob Pipkin and Jeff LaForte of Denver-based Fuller Real Estate.
Kenai Capital Advisors is an investment sales broker and capital markets advisor based in Littleton. Kenai focuses on office, industrial, and retail assets sales and equity capitalization across the mountain west region.
Aerial photo courtesy of Kenai Capital Advisors
