Denver Office Building Changes Hands for $13M
- Dec 04, 2018
HFF has secured the sale of Church Ranch Office Building II, a roughly 63,000-square-foot office building in Westminster, Colo. Basham & Associates Inc. worked on behalf of the buyer, a local private capital group. The property is fully leased to Staples Inc. According to public records, 101249 10249 Church Ranch Way LLC sold the asset for $12.5 million.
Located at 10249 Church Ranch Way—near Church Ranch Office Park Building IV—the property is situated in the northwest office market, stretching from the outskirts of Denver up to Boulder, Colo. The office building offers convenient access to the area’s transit systems, Highway 36 and various employment hubs including Broomfield, Westminster, Arvada, Boulder and Denver.
The two-story building was built in 2000 and renovated in 2017. In April, Staples signed a new 130-month lease with two five-year options for 100 percent of the property. The company has invested more than $3.8 million of their own capital for the space.
Director Jules Sherwood and Director Nate Perry were part of HFF’s investment advisory team that represented the seller. In another recent deal, the company arranged a four-year construction loan for Block 162, a office tower in Denver.
Image courtesy of Yardi Matrix