The building is home to the headquarters of two international companies—Newmont Mining Corp. And CIBER Inc., as well as the Mangia Bevi Cafe. Leading the Jones Lang LaSalle Inc. team, who is marketing the property, are executive vice presidents John Jugl and Steve Suechting.
"Super core, long-term leased assets such as this have never been hotter, nor harder to find," explains Jugl. "From private capital funds to offshore investors, they've all been amassing huge amounts of capital and are scouring the nation to find save havens to park their money in real estate."
Jugl continues that net-leased properties are "far more attractive than distressed assets given the in-place capital and these are the trades in demand today." He adds that the owner, John Madden Co. is "definitely striking while the iron is hot and parlaying this into an opportunity to raise attractive capital through maximizing the value of the company's real estate."
"We have received significant initial interest from a wide variety of buyers—and some we haven't seen in some time," he tells GlobeSt.com. "We are executing confidentiality agreements now." However, Jugl couldn't provide any specific names at this time.
Suechting points out that the property will appeal to a wide variety of institutional buyers, both nationally and internationally. "International capital is definitely looking beyond the coasts and because high quality, net-leased assets appeal to investors looking for secure yields, this property stands out as an exceptional investment opportunity."
As GlobeSt.com previously reported, the building was built in 2008 by John Madden Co., along with Fentress Bradburn Architects and Peter Kiewit Sons' Inc. The building was originally build as a speculative office property in an area that, at the time, wasn't known for sprouting high-end office buildings.
The building is one of only 13 LEED Gold commercial office buildings in the greater Denver area, according to a prepared statement. The property also offers amenities including attached covered parking, an on-site art museum and restaurant, as well as adjacency to 27,000 square feet of new retail and light rail service at Arapahoe Station.
Both Newmont Mining Corp. and CIBER Inc. have signed long-term leases through October 2020 and 2019, respectively, and made significant long-term investments to customize their spaces. The property is located just off I-25 within 15 minutes of downtown Denver and 30 minutes of Denver International Airport.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
