Watumull Acquires Denver Office Campus for $18M
- Jun 06, 2017
Watumull Properties acquired the Clear Creek Business Center in Denver from Etkin Johnson Real Estate Partners for $18.1 million.
Located at 6800-6880 N. Broadway, the business park comprises eight, single-story buildings offering 10-foot glass heights, individual HVAC units, 10-foot by 10-foot drive-in doors and 14- to 16-foot clear ceiling heights. Clear Creek currently houses 47 tenants with spaces ranging from 526 to 19,415 square feet. At the time of sale, the facility was 95 percent occupied. The center is located in close proximity to Interstates 25, 76 and US-36.
“Clear Creek Business Center has been part of the Etkin Johnson portfolio for 12 years, and we are working closely with Watumull Properties to create a smooth transition for all of our tenants there,” said Derek Conn, executive vice president & partner at Etkin Johnson, in prepared remarks. “This sale will allow us to better focus on existing properties in the area as well as new developments and potential acquisitions.”
Etkin Johnson owns 5 million square feet of real estate in Colorado and is developing new industrial space in Louisville and a hotel in Westminster.
Image courtesy of Etkin Johnson Real Estate Partners