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Page 8 —
COLORADO REAL ESTATE JOURNAL
— December 7-December 20, 2016
Office
by Jill Jamieson-Nichols
A single-user office building
in Inverness Business Park sold
quickly to a locally based religious
organization.
The Conservative Baptist For-
eign Mission Society, which oper-
ates as WorldVenture, purchased
the 31,352-square-foot building at
20 Inverness Place East in Engle-
wood for its headquarters. Inter-
Capital Group LLC sold the two-
story building for $3.25 million.
WorldVenture is a Christian
mission-based organization that
operates around the world. It cur-
rently has more office space than
it needs, and the Inverness build-
ing’s footprint worked well for its
use, according toWade Fletcher of
Newmark Grubb Knight Frank,
who represented the buyer with
NGKF’s Steve Roesinger.
“Theywere looking for a facility
that worked better for their cur-
rent needs,” said Fletcher. World-
Venture will do some minor ret-
rofits and will relocate into the
building next year.
The building sold within three
weeks of being placed on themar-
ket, according to Rick Egitto of
Avison Young, who represented
the seller. “It moved very quick-
ly,” Egitto said. “Buildings in
Inverness that are user buildings
are very hard to come by.”
The building features a two-
story lobby and is situated in a
parklike setting.
Fletcher and Roesinger have
WorldVenture’s existing, 41,030-sf
facility at 1501 W. Mineral Ave.
in Littleton listed for sale at $5.74
million, or $140 per sf. The two-
story building will be available no
later than March 1.
The Littleton facility works well
for office and medical office uses,
or as an educational/training
facility, said Fletcher. An adjacent
4.5-acre development site that
WorldVenture also owns is under
contract for sale.
Other News
n
Cache Bank and Trust
sold
a 38,793-square-foot office build-
ing at 2755 S. Locust St. in Denver
to
2755 S. Locust LLC
for $1.76
million.
Eric Gold
of
Sheldon-Gold
Realty Inc.
represented the seller.
David Blackwood
of
Your Castle
Real Estate
represented the buyer.
n
ABS Inverness LLC
pur-
chased a 15,004-sf office condo on
the 11th hole of the Inverness Golf
Club for $1.7 million, or $113.30
per sf.
The seller of the property at
2 Inverness, Suite 200, in Engle-
wood was
2 Inverness Suite 200
LLC.
The condo has views from
the golf course and is close to the
County Line light-rail station.
“We were pleased to repre-
sent the buyer in the sale of 2
Inverness Drive, Suite 200. The
buyer will renovate the property
and move to the location, where
he will continue to operate and
grow his business,” said
Cody
Stambaugh,
adviser at
Pinnacle
Real Estate Advisors.
Stambaugh is with the Johnson
Ritter Team at Pinnacle.
n
Lathrop & Gage LLP,
a law
firm, subleased 29,165 sf of office
space from
Polsinelli PC
at 1515
Wynkoop St. in Denver.
Keith Krombach
and
David
Hart
of
Newmark Grubb Knight
Frank
represented the landlord.
Savills Studley
represented the
tenant.
n
Clinica Campesina Family
Health Services
leased 20,578 sf
of medical office space at 8510
Bryant St. inWestminster.
John Gustafson
of
Newmark
Grubb Knight Frank
represent-
ed the landlord,
GA HC REIT St.
Anthony North Denver MOB
II LLC.
Elevation Cos.
and
Transwest-
ern
represented the tenant.
n
Rubin & Raine of Colorado
Inc.
renewed its lease for approxi-
mately 11,500 sf of office space at
Pavilion Towers, 2821 S. Parker
Road, in Denver.
Property leasing agent
Sara
Hauck
negotiated the lease on
behalf of the landlord,
Boxer
Property. Natasha Felten,
presi-
dent of
Colorado Commercial
Cos.,
represented the tenant.
Pavilion Towers consists of twin
14-story buildings of 291,568 sf
each.
Rubin & Raine specializes in
health care accounts receivables
management. It has been a tenant
at Pavilion Towers since 2009.
n
Greenspoon Marder PA
signed a lease for 10,000 sf at 1401
Lawrence St. in Denver.
Jeff Castleton
and
Jamie Gard
of
Newmark Grubb Knight
Frank
represented the landlord,
Renshan LP,
in care of First Gulf
Corp.
Savills Studley
represented
the tenant.
n
Lokal Homes LLC
leased
7,215 sf of office space at 8310
S. Valley Highway, No. 115, in
Englewood.
Matt Call
and
Matt Kulbe
of
NavPoint Real Estate Group
rep-
resented the tenant.
s
Christian organization acquires single-tenant buildingWorldVenture purchased the building at 20 Inverness Place East in Englewood for its new headquarters.
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