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9/27/16
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Angelo, Gordon & Co has purchased the CH2M Global Headquarters, a 370.5k sf, three-building office campus in Englewood, CO, for $122 mil ($329/sf). The property is 100 percent leased on a long-term basis to CH2M Hill Inc, one of the world’s leading engineering and construction firms.
Built in 2002 as a build-to-suit for CH2M, the property is situated on nearly 22 acres within Meridian International Business Center at 9189, 9191, and 9193 South Jamaica Street. On-site amenities include a fitness facility with showers and lockers, a number of conference and training rooms, outdoor seating areas and a cafeteria. The tenant spaces feature high ceilings, quality finishes, and abundant large windows that provide natural light.
The CH2M headquarters is adjacent to the Interstate 25 and Colorado 470 Interchange and is within Denver’s Southeast suburban submarket which has been the preferred headquarters address within the Denver metro region.
Kevin Shannon, Ken White, and Laura Stumm of NGKF Capital Markets in Los Angeles, in cooperation with NGKF Colorado capital markets expert Dave Tilton and the NGKF leasing team of Jamie Gard and Jeff Castleton, represented the seller, Columbia Property Trust. The buyer represented itself. David Milestone and Brett Green of NGKF Capital Markets arranged the debt on behalf of the buyer.
“This long term leased headquarters facility provides the buyer with an exceptional and secure income stream with a globally recognized credit tenant. The attractive yield was augmented with a favorable debt component typical in today's low interest environment for core assets. This best-in-class campus is also located in one of Denver's best submarkets,” said NGKF’s President of West Coast Capital Markets Kevin Shannon.
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