by Jill Jamieson-Nichols
ADenver Tech Center office
property captivated investors
willing to take on big risk for
the sake of reward.
Denver Corporate Center II
and III ended up in seem-
ingly logical hands with DPC
Development Co. and long-
time partner Bridge Invest-
ment Group Partners paying
$40.54 million for the build-
ings at 7800 and 7900 E. Union
Ave., in the north end of the
Denver Technological Center.
The 15-acre property con-
sists of twin 11-story buildings
that total 375,314 square feet
and approximately two acres
for possible future develop-
ment. One of the buildings is
vacant, a rare find in Denver’s
healthy office market.
Greenwood Village-based
Photo by Steve Zavodny
Formerly occupied by URS Corp., Denver Corporate Center II is vacant.
by John Rebchook
Long before Vestar recent-
ly paid $76.15 million for
Bowles Crossing, it had its
eye on the open-air retail
center in Littleton.
“We had our eyes on that
center for a couple of years,”
said David Malin, a vice
president of acquisitions and
development for Phoenix-
based Vestar.
Why?
“No. 1, we are very bullish
on the Denver market over-
all,” Malin said.
“We just think it has the
right fundamentals for our
capital partners’ investments
for the long term.”
And the 409,457-square-
foot Bowles Crossing, which
sits on almost 54 acres at
8055 W. Bowles Ave., is right
in Vestar’s wheelhouse
“All we invest in is large-
format, open-air retail,”
Malin said.
It also wants to own the
dominant center of that type
in its submarket.
Bowles Crossing is, with-
out doubt, the alpha dog of
open-air retail in the high-
demographic
southwest
Denver area, according to
Malin.
The same was true in 2014
when Vestar paid $123.5
million to Forest City Enter-
prises for its Orchard Town
Center in Westminster.
“Of course, we didn’t
decide that we would buy
our first center in the north
part of town and then decide
our second one should be at
the other end of the metro
area,” Malin said.
“That’s not how those
things work,” he said.
‘When you are buying the
dominant open-air retail
center, you are not going to
find one on every corner,”
he said.
In other words, they are
few and far between, and
Vestar recently paid $76 million for Bowles Crossing.
CONTENTS
Inside
