Denver-Area Office Building Lands Refi
- Feb 17, 2020
NorthMarq has secured $7.9 million in refinancing for Centennial Tech Center, an office property in the Denver suburb of Centennial, Colo. The two-story, multi-tenant building received a 10-year, fixed-rate loan from a CMBS lender. According to Yardi Matrix, the building had last traded in 2017 for $10 million.
The financing includes a 5-year interest-only payment term and a 30-year amortization schedule. Mark Jeffries, vice president at NorthMarq’s Denver office, arranged the refinancing for the property.
Completed in 1984 and renovated in 2011, the 81,947-square-foot asset has approximately 500 parking spaces. Tenants at the center include Alpha Recovery, Amerita and Laser Technology.
Located at 6912 South Quentin St., on roughly 7 acres, the Class B property is within 3 miles of Interstate 25 and 1 mile of Centennial Airport. The surrounding area has several retail and dining options, including The Shops at Greenwood Village, which is 2 miles from the asset. Last December, United Launch Alliance signed a long-term 250,000-square-foot lease renewal at an office building which is 3 miles from Centennial Tech Center.