Denver-based Northstar Commercial Partners announced earlier this week that it had acquired an 199,418 square-foot office complex in Lakewood, Colorado for $4 million, or $20 per square foot. Northstar purchased the two-building complex from Hub Properties Trust c/o Reit Management & Research out of Ohio. Northstar is calling it "the largest block of contiguous office space in a stand-alone building in the entire metro Denver area," according to a Denver Business Journal article. HFF LLP's Mary Sullivan, John Jugl Jr. and Chris Crawford represented the seller in the transaction.
"We bought this because there are several large tenants in the market place now," said Brian Watson, founder and president of Northstar Commercial Partners in a statement. "This is one of just a few opportunities to be able to accommodate them and their needs."
The complex at 3840 S. Wadsworth Boulevard is currently vacant, but has previously been the home of Gateway Computers, Raytheon, Martin Marietta, Merrill Lynch and most recently Lockheed Martin, which vacated the property in the first quarter. "It's always been for a single tenant," said Watson of the complex, with one building measuring 59,426 square feet and the main one at 139,992 square feet. "It's just the way the buildings are laid out."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment