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COLORADO REAL ESTATE JOURNAL
— November 4-November 17, 2015
Greater Denver
by Jill Jamieson-Nichols
A California investor bought
116 Inverness in Englewood in a
$35.98 million transaction.
Cordia Capital Management,
an El Segundo-based investment
adviser, paid $168 per square foot
for the 214,183-sf office build-
ing alongside Inverness Hotel &
Golf Club. SteelWave (formerly
Legacy Partners Commercial)
was the seller.
The Class A building was 94
percent occupied, with credit
tenants occupying nearly 70
percent of the space. Great-West
Life, Wells Fargo, Chevron, Kel-
logg and Trimble Navigation are
among tenants at 116 Inverness.
Ultra Resources Corp. has its
headquarters in the building.
Buyers that seek multiten-
ant properties were drawn to
the asset by the credit tenancy,
Inverness Business Park setting
and proximity to the Dry Creek
light-rail station pedestrian
bridge, which is within a five-
minute walk, said CBRE Vice
Chairman Mike Winn. “With
these tenants, you have some sta-
bility and cash flow,” he added,
noting the property also offered
potential to increase income.
“You’ve got upside because, in
a rising market, when these leas-
es expire, you have the opportu-
nity to roll the leases to market,”
saidWinn, who handled the deal
with CBRE’s Tim Richey and
Chad Flynn.
“It’s a great asset for a long-
term hold,” said Nick Nikogho-
syan, acquisitions associate with
Cordia Capital Management.
Aglass façade distinguishes the
four-story building, providing
views in every direction, includ-
ing outlooks of the golf course
and mountains. An atrium lobby
with seating areas and a fireplace
also allows natural light into the
building, which was built in 1982
and renovated in 2006-2007.
On-site amenities include a fit-
ness center with a locker room
and showers, a deli, conference
room and barbecue areas. The
building is close to Interstate 25,
and restaurants, Centennial Air-
port and Park Meadows Shop-
ping Center also are located
nearby.
Floor plates range from 36,000
to 60,000 sf. The parking ratio is
3.7:1,000, and 59 percent of the
spaces are covered.
Cordia Capital Management
is an investment adviser with
office, retail, industrial and mul-
tifamily properties in California,
Colorado and Arizona.
s
The building at 116 Inverness Drive East features a glass curtain wall and atrium lobby.
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Vol. 24 No. 21
