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12/14/15
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MIG Real Estate has acquired Dry Creek Business Park, a 244k sf, 15-building flex business park in Centennial, CO. Dry Creek Business Park is located at 7300-7348 South Alton Way, between Arapahoe Rd and Dry Creek Rd in the thriving Denver Tech Center.
Located just 20 minutes south of Denver’s city center and 15 minutes north of Centennial Airport, the property has immediate access to I-25, Centennial’s major access point which serves more than 200,000 cars each day. With direct access to nearby public transit, restaurants, shopping and residential areas including Greenwood Village and Cherry Hills, Dry Creek Business Park is ideally positioned for tenants and employees.
Serving industries ranging from aerospace to energy, Denver Metro was ranked first among big cities in economic and job growth by Area Development. The area’s industrial market boasts vacancy rates at a 15-year low of 3.8 percent, and as lease rates in the area continue to climb, Denver Metro is experiencing sustained growth.
In addition to its desirable location, Dry Creek Business Park offers flexible floorplans that are positioned to accommodate a variety of suite sizes and tenant growth. The property benefits from abundant parking, seven separate entrances and highly visible signage from Interstate 25. The project was 92 percent leased at time of purchase.
Dry Creek Business Park represents MIG Real Estate’s eleventh investment in the Metro Denver area following the company’s purchase of Iliff Business Park, a four-building flex business park, in June, two hospitality properties, six multifamily communities and a flex product fronting I-225 in the area.
Newport beach-based MIG Real Estate represented itself in the transaction. Brad Calbert and T.J. Smith of Colliers International represented the seller.
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