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COLORADO REAL ESTATE JOURNAL
— July 15-August 4, 2015
Greater Denver
by Jill Jamieson-Nichols
A local group secured a con-
spicuous spot on the Aurora/
Interstate 225 Rail line with its
acquisition of The Forum for just
over $83 per square foot.
Denver-based
Richardson
Realty paid $14 million for the
prominent, seven-story building
at 14001 E. Iliff Ave. in Aurora.
The deal offered it a rare chance
to buy a Class B building near a
future light-rail stop.
“We purchased the property
primarily for its location to light
rail. It is almost exactly four-
tenths of a mile walking distance
from the Iliff Station platform,”
said Nick Koncilja of Richardson
Realty. “It’s irreplaceable land,
and we feel that creates a lot of
value, particularly with the city
of Aurora’s $6 million invest-
ment in a
parking struc-
ture at that
location.”
“A Class B
building with
that type of
location
is
extremely dif-
ficult to find
in Colorado.
Very
few
Class B assets
have this type
of immediate
access direct-
ly across the
street from a
future light-
rail
stop,”
said
Riki
Ha s h imo t o
of Newmark
Grubb Knight Frank. Hashimoto
and NGKF’s Dan Grooters rep-
resented seller Westside Invest-
ment Partners Inc.
The 168,167-sf building sits
across from the Iliff light-rail sta-
tion on the R Line, slated to
open next year. The line will run
22 miles from the existing Nine
Mile Station through Aurora to
the new Peoria Station.
The Forum was 90 percent
occupied at the time of the sale.
Ascenda USA Inc., an inbound
call center for companies includ-
ing Netflix, Airbnb and Wal-
Mart, occupies 53 percent of
the building, or approximately
90,000 sf. ITT Technical Institute
is a 16,000-sf tenant.
Being on light rail will be
advantageous for those high-
density users, and that was
The Forum is on Interstate 225 and on the R light-rail line, which will open in 2016.
Riki Hashimoto
Nick Koncilja
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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Vol. 24 No. 14
