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Buchanan Street Partners Picks Up Office Assets in Denver and Houston

2/03/17

OC-based Buchanan Street Partners has closed on two west coast office buys, in Denver and Houston. The properties total 384k sf in combined size.

In Denver, Buchanan Street Partners purchased 5613 DTC, a 224k sf, transit-oriented office tower located at 5613 DTC Pkwy. The building was sold by SteelWave LLC.

5613 DTC, Denver
5613 DTC, Denver
Buchanan Street plans to complete extensive improvements that include investing significant capital in tenant spaces, common areas and building systems. Additionally, the company will look to strategically improve the tower’s fitness center, lobby and elevators, cafe, conference center, parking deck, and outdoor patios. The building is currently 80 percent occupied with available suites ranging from 2k sf to 17k sf.

The 12 story tower is situated in a highly prominent location adjacent to the I-25 Fwy and within walking distance to the Orchard Light Rail Station. 5613 DTC is within the Denver Technological Center (DTC) in Denver’s Southeast office submarket, the largest submarket in the Denver metro. Denver’s Southeast region consists of 34 msf of office space and is home to many Fortune 500 companies that are attracted to its proximity to executive and employee housing, a strong retail amenity base and accessibility via multiple transit options.

Tim Richey, Mike Winn and Chad Flynn of CBRE represented the seller in the transaction. Buchanan Street represented itself. Terms of the deal were not disclosed.

In Texas, Buchanan Street Partners acquired Sam Houston Crossing II, a 160k sf office building located at 10344 Sam Houston Park Drive in Houston. The asset was sold by Duke Realty for an undisclosed price. This is Buchanan Street’s sixth acquisition in Texas in the last 24 months.

Sam Houston Crossing II, Houston
Sam Houston Crossing II, Houston
Sam Houston Crossing II is a three-story office building that is 100 percent leased by subsidiaries of Forum Energy Technologies; PEMEX; and First American Title Company. The property has frontage along Texas-8 Beltway between US-290 and Texas State Highway 249, in a location central to housing ranging from entry to executive level.

Jared Chua of CBRE represented the seller in the transaction. Buchanan Street represented itself.






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