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Page 2AA — COLORADO REAL ESTATE JOURNAL — January 21-February 3, 2015
by Jill Jamieson-Nichols
A 24,065-square-foot office
building suited to an owner-user
will provide a local nonprofit
with a new location from which
to serve clients.
The multitenant building at
20971 E. Smoky Hill Road in
Centennial was about 56 percent
occupied at the time of its sale,
and buyer
Aurora Com-
munity Men-
tal Health
Center Inc.
will use most
of the vacant
space to serve
clients in the
vicinity.
“They need-
ed a clinic in
that area,”
said Monica
Dirom Wiley of CBRE, who rep-
resented the buyer with CBRE’s
Paul Kluck. “It just felt like this
buildingwas the one they needed
to have.”
The two-story building, known
as Bridges Professional Plaza,
is located within The Bridges
at Smoky Hill office and retail
development. It sold for $2.4 mil-
lion, or $99.73 per sf.
“We had really good activity on
it. We were really searching for
an owner-user
because we
felt like that
would be the
best purchaser
for the prop-
erty,” said co-
listing broker
Troy Meyer
of Sperry Van
Ness. That’s
b e c a u s e ,
“The price per square foot was
far below what replacement cost
would be,” but the property
wasn’t producing a ton of income
because of the vacancy. Neverthe-
less, there was investor interest,
and a 1031 buyer was negotiating
for the deal when Dirom Wiley
saw an opening for Aurora Com-
munity Mental Health to submit
a full-price offer.
“I kept after it because it was a
good fit and there was nothing
else in that area,” she said.
The seller was an affiliate of
Colony Capital, which acquired
the property as part of a portfolio
of loans it bought from the Fed-
eral Deposit Insurance Corp.
“It was a smooth transaction,
and Aurora Community Mental
Health was great to work with,”
said Meyer, who represented the
seller with SVN broker Kevin
Matthews.
DiromWiley saidAurora Com-
munity Mental Health Center
will provide group and family
therapy in the building and offer
about 5,500 sf of the available
space for lease. Tenants include
Carino Coffee, a perodontist,
orthodontist, insurance company
and others.
The building was constructed
in 2001.
Other News
n CHR Parkridge LLC paid
$995,000 for a 4,090-square-foot
office condo at 10465 Park Mead-
ows Drive, Suite 205, in Lone
Tree. K3C LLC sold the condo,
which is located at the corner of
Interstate 25 and LincolnAvenue.
The space will house Carr
Healthcare Realty’s real estate
offices.
Carole Schumacher of BRC
Real Estate represented the seller
in the transaction.
n Wales Land Co. purchased
an 8,056-sf office building at
10650 E. Bethany Drive inAurora
for $760,000.
Bethany Realty LLC, represent-
ed by Eric Gold of Sheldon-Gold
Realty Inc., represented the seller.
Tyler Reed of JLL represented the
buyer.
Office
Aurora Community Mental Health Center will occupy much of the
vacant space at the Bridges Professional Plaza.
Monica Dirom
Wiley
Troy Meyer
by Jill Jamieson-Nichols
Dallas-based Velocis entered
the downtown Denver office
market with the acquisition of
Trinity Place, a 195,753-square-
foot building.
“We real-
ly love the
energy and
rising tide
of Den-
ver’s CBD.
T r i n i t y
Place is an
incredibly
well-locat-
ed build-
ing with
unmatched access and out-
standing walkability to world-
class amenities,” said Mike
Lewis, Velocis principal.
An affiliate of Broe Real
Estate Group sold the building,
which is located at 1801 Broad-
way. The price was $37 million,
according to public records.
Velocis is a private equity real
estate fund manager that owns
Landmark Centre in Green-
wood Village. Trinity Place is
its second Denver asset.
“Trinity Place caters to small-
tomedium-sized tenants, offer-
ing a boutique atmosphere in
a traditional and distinctive
building,” Lewis said. The
building is close to the Brown
Palace Hotel and 16th Street
Mike Lewis