|
|
5/19/16
|
In a recent Colorado office buy, Bancroft Capital purchased Highlands Ranch I and II, a 152.6k sf property in Highlands Ranch. Constructed in 2001, the property sits on 10 acres at 630 – 640 Plaza Dr, west of Broadway and south of Hwy 470.
Highlands Ranch I and II benefits from mountain views and signage visible to State Highway 470. The property was 94 percent leased to 17 tenants at the time of sale.
Brad Cohen and Larry Thiel of Transwestern’s Denver Capital Markets Group represented the unnamed seller in the transaction. The price was not disclosed.
Highlands Ranch is currently home to more than 2,000 businesses with more than 19,000 employees. The area enjoys one of the lower tax rates in the south metropolitan area due to its unincorporated affiliation.
“Often overlooked by investors, the Highlands Ranch submarket has proven to be a preferred location for several of Denver’s largest tenants,” said Thiel. “Major employers in the vicinity include Dish Network, Liberty Media, Western Union, Charles Schwab, Lucent Technologies and Visa’s global technology center. These primary employers lead to many secondary jobs, keeping the vacancy rates at all-time lows.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
