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4/29/15
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Easterly Government Properties Inc recently acquired the 115.7k sf Western Area Power Administration (WAPA) HQ building in Lakewood, CO for $20.25 mil, or around $175/sf. Built in 1999 on 5.7 acres and 100 percent occupied by WAPA, the building is located at 12155 West Alameda Pkwy, in Lakewood’s Union Square office area.
The facility features a gently curving footprint that follows the shape of the property and provides for interesting interior spaces. The three-story structure contains some of the most advanced operating systems available in the market and many nonstandard technical components required by the government.
Tammy Saia, vice president investments in Marcus & Millichap’s Chicago Oak Brook office, represented the seller, a private investor. Richard Bird, vice president and regional manager of the firm’s Denver office is Marcus & Millichap’s broker of record in Colorado.
“Occupying an entire city block, the building expresses the technical requirements of the tenant agency and reflects its public image,” says Saia. “WAPA officials were actively involved in the planning and procurement of the space for more than seven years. The property is leased to the General Services Administration on behalf of the Department of Energy until 2029.”
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