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Page 4 — COLORADO REAL ESTATE JOURNAL — February 18-March 3, 2015
Land w i t h Chu r ch Bu i l d i ng
Bob Leino or
Andrew Dodgen
(303) 534-4822
7921 Southpark Plaza, #108, Littleton, CO 80120 *
Located adjacent to the SEC of 112th & Colorado Blvd., this
4.95± acre lot is currently zoned SFA, which allows for single
family, rec. center, daycare, church, school, etc. The property
is currently utilized as a church and formerly a YMCA. The
building is 13,916± sq. ft. with steel frame construction and
could be sold and relocated. $995,000.
Greater Denver
by Jill Jamieson-Nichols
Investors came calling when
a Highlands Ranch building hit
the market.
The Verizon call center at
6415-6455 E. Business Cen-
ter Drive drew interest from a
broad range of private equity
and institutional investors,
ultimately selling to an out-of-
state 1031 exchange investor for
$18.43 million, or $173.82 per
square foot, according to public
records.
“We had a good level of inter-
est and great number of offers to
choose from,”
said DTZ
M a n a g i n g
Director R.C.
Myles, who
represented
the seller with
DTZ’s James
Brady and
Alec Rhodes.
“I think it’s
a demonstra-
tion that there’s not a lot of
single-tenant investment-type
properties out there. When
they do come to market, they’re
highly sought after,” Myles said.
Mountain View (Highlands
Ranch) LLC, managed by Jeff
Sanders of Mountain View
Properties, sold the call center,
which comprises 106,000 net
rentable sf.
DTZ assisted in renewing the
lease with Verizon before bring-
ing the property to market.
The building was constructed
as big-box retail space in 1995
and repurposed several years
ago. Verizon is a longtime ten-
ant, having acquired the previ-
ous occupant, MCI WorldCom,
in 2006. The location provides
a strong employment base in
surrounding Highlands Ranch
and Lone Tree, as well as nearby
retail amenities for employees.
According to Douglas County
records, the property sold to
LYK Highlands Ranch LLC.s
Verizon has a long-term lease on the space at 6415-6455 E. Business
Center Drive in Highlands Ranch.
R.C. Myles
by John Rebchook
Investors snapped up $659.5
million in Denver-area retail
developments in 2014, according
to a CBRE analysis of the market.
That is an 18.5 percent drop
from the near-record sales volume
in 2013, according to the report.
In other words, sales volume
last year dropped by $122 mil-
lion – almost equivalent to the
$124 million sale of the Corner-
star Shopping Center in Aurora,
the single-largest retail deal in the
metro area last year.
However, Brad Lyons, a senior
vice president in CBRE’s Retail
Investment Properties Group
in Denver, said the drop in
sales does not signify a drop in
demand, but a shortage of sup-
ply.
Jonathan Stern, Publisher & Founder
Jennifer Hayes, Editor
Jill Jamieson-Nichols, Editor
John Rebchook, Editor
Kris Oppermann Stern, Editor
Michelle Askeland, Special Sections Editor
Ryan Gager, Special Sections Editor
Lori Golightly, Director of Client Services
Jill Harris, Circulation Manager
Production/Graphic Design:
Jennifer Steidley
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(ISSN 1060-4383) Vol. 24 No. 4