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COLORADO REAL ESTATE JOURNAL
— March 2-March 15, 2016
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Boulder County & U.S. 36 Corridor; Larimer & Weld Counties;
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Finance; Metro Denver: Multifamily, Retail; Western Slope/Mountain Towns
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Colorado Springs/Southern Front Range; Construction, Design & Engineering;
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Health Care & Medical Office Buildings; Law & Accounting; Senior Housing & Care
QUARTERLIES EDITOR
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Multifamily Properties Quarterly
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REPORT AN ERROR IMMEDIATELY
(ISSN 1060-4383)
Vol. 25 No. 5
Office
by Jill Jamieson-Nichols
The historic Elephant Corral
in Lower Downtown Denver
has traded for the second time
in a year at what appears to
be a nice profit for seller Stoltz
Real Estate Partners.
Records show Seattle-based
Unico Properties LLC pur-
chased the property, which
includes two office buildings,
an apartment and two surface
parking lots, for $22.58 million.
Stoltz Real Estate bought the
66,200-sf property for $17 mil-
lion a year ago.
“Elephant Corral is a long-
term investment and a well-
CoStar Group
The Elephant Corral is a historic brick-and-timber office building in
Lower Downtown Denver.
by Jill Jamieson-Nichols
A financial services firm
signed a 10-year lease for a
31,200-square-foot office build-
ing in Littleton.
Chatham Financial will
expand its local operations into
the building at 7926 S. Platte
Canyon Road. Kiewit formerly
occupied and owns the property.
“It was a great opportunity
for Kiewit to receive long-term
cash flow,” said Tyler Reed of
by Jill Jamieson-Nichols
A Mexico City family look-
ing for a stabilized investment
acquired an Inverness office
building for $16.2 million
An affiliate of Reforma paid
$149.02 per square foot for 160
InvernessDriveWest, a 108,707-
sf office building that was 100
percent leased. Onward Inves-
tors was the seller.
Situated alongside Inverness
Golf Course in Englewood, 160
Inverness is a four-story build-
ing with an atrium lobby. It
was constructed in 1981.
Onward Investors acquired
the note on the property and
subsequently foreclosed on it.
It completely refurbished the
property after acquiring it in
October 2013.
Kiewit Corp. just signed a
long-term lease and occupies
about 60 percent of the space
at 160 Inverness. The building
is within walking distance of
the Dry Creek light-rail station
with easy access to Interstate
25.
There were multiple offers
for the property, which sold at
a fraction of replacement cost,
according to CBRE Inc. Vice
Chairman Mike Winn. Winn
handled the sale with CBRE
Vice Chairman Tim Richey and
Vice President Chad Flynn.
Winn said there was strong
investor interest in in the prop-
erty. “It was a smaller deal, and
it was stabilized, so it appealed
to people like the Reforma
family, which was seeking an
investment that was leased,”
he said.
Reforma also owns The Views
office park in Broomfield and
Quebec Centre in Greenwood
Village.
s
Kiewit Corp. leases approximately 60 percent of the building at 160
Inverness Drive West in Englewood.
Contact: Liz Sharrer, Chair
303.295.800
555 17th Street, Suite 3200, Denver, CO 80202
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