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Southeast Corridor Sees Strong Sales

DENVER–The June report by the South Denver Office Team of CB Richard Ellis shows that the sales activity is strong. A GlobeSt.com analysis of the numbers breaks down the report even further.

By John Rebchook | Updated on June 14, 2005

DENVER–Investment activity along the southeast suburban office market is thriving, according to the June Office Market Update by the CB Richard Ellis South Denver Office Team. The team of senior vice presidents Sergio Castaneda and John Marold, vice president Mitch Bradley, senior associate Cameron Brown and associate Brett Nathan tracked 11 major office sales along the corridor from January through early May along the corridor.

A GlobeSt.com analysis of the figures shows that the acquisitions represent 1.58 million sf of inventory. They sold a total of about $135.09 million, or an average sales price per sf of $85.03, according to the GlobeSt.com analysis.

But the average price doesn’t tell the entire story, as the CB team’s report shows a wide price per sf, depending on the occupancy of the building. For example, the least expensive building to sell–and perhaps the greatest value-added opportunity–was the 84,253-sf One Southgate building that fetched $3.3 million or about $391 per sf.

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