Search
 

100,000-SF Office Campus Trades Hands

GOLDEN, CO-Crown West Realty of Spokane, WA adds to its seven-million-sf portfolio with a pair of tilt-up office buildings here that are 84% occupied.

By Brian K. Miller | Updated on December 05, 2006

GOLDEN, CO-Golden Ridge I and II, a pair of single-story office buildings here totaling 100,800 sf, have changed hands for $11.35 million. The new owner is Crown West Realty of Spokane, WA.

Located at 500-560 Golden Ridge Rd., the buildings were constructed in 2000 and 2001; their combined occupancy is 84%. Noteworthy tenants include Rockwell Automation, Health Grades Inc., and TechLaw Inc. The vacancy rate and in-place rental rate (approximately $11.50 per sf/NNN) are comparable to the average for the submarket as a whole.

Crown West Realty president Rob Gragg tells GlobeSt.com that the buildings are the company’s second acquisition in the Denver area and that he expects to close several additional deals in 2007. The previous acquisition was Corporate 25, a fully leased three-building, three- and four-story office campus within Denver Tech Center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.