Denver Office Portfolio Trades for $71M
- May 03, 2019
HFF has closed the $71.1 million sale of Westmoor Place 8, 9 and 10, located in Westmoor Technology Park, in Westminster, Colo. The company worked on behalf of the seller and also procured the buyer, Austin-based CapRidge Partners LLC. According to Yardi Matrix data, the portfolio last traded in 2013, when Investcorp acquired it for $65.5 million.
Located at 11400, 11300 and 11000 Westmoor Circle, the properties completed in 2001 offer easy access to more than 240 dining and shopping venues at the Flatirons Mall, The Shops at Walnut Creek and Westminster Promenade.
The three-building portfolio encompasses a total of 428,029 square feet of office space, with amenities including a full-service cafeteria, a fitness center and 3.5 miles of trails, as well as basketball and volleyball courts. The three- and four-story buildings are 79 percent leased to a mix of tenants including CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics.
HFF Senior Managing Director Mark Katz and Senior Director Peter Merrion were part of the investment advisory team that represented the seller in the transaction.
“Westmoor Place provided the investor with a diverse rent roll, leased to several large tenants with businesses focused in cyber security, health care and engineering,” Merrion said in a prepared statement. “The quality of the buildings and tenancy offered a unique investment profile in Denver. The Northwest market continues to see incredible activity and Westmoor Place will be well-suited to capture the continued demand of users in the market.”