Beacon Capital paid $81.6 million for the property at 1515 Arapahoe St. Park Central was built in 1973 and today is 99% leased with tenants including Qwest Communications, Barrett Resources, the Colorado Department of Labor, RNL Design and the Palomino restaurant.
Means-Knaus will manage and lease Park Central, which was sold by Lowe Enterprises, which spent a substantial amount of money bringing the building up to class-A stature.
"This service agreement represents the inception of a strategic growth initiative for our company to enter Colorado," says Douglas A. Knaus, Means-Knaus principal. "It is our intention to expand our commercial development, leasing, and management expertise in the Colorado markets. We will begin our expansion by opening a Means-Knaus office to provide on-site management of the Park Central building."
Means Knaus LLC specializes in the development, acquisition and management of assets and operating companies. With offices in Houston, Dallas and Denver, it has interests in $20 million in office and land developments.
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