Colorado Real Estate Journal - February 18, 2015
Investors came calling when a Highlands Ranch building hit the market. The Verizon call center at 6415-6455 E. Business Center Drive drew interest from a broad range of private equity and institutional investors, ultimately selling to an out-of-state 1031 exchange investor for $18.43 million, or $173.82 per square foot, according to public records. “We had a good level of interest and great number of offers to choose from,” said DTZ Managing Director R.C. Myles, who represented the seller with DTZ’s James Brady and Alec Rhodes. “I think it’s a demonstration that there’s not a lot of single-tenant investment-type properties out there. When they do come to market, they’re highly sought after,” Myles said. Mountain View (Highlands Ranch) LLC, managed by Jeff Sanders of Mountain View Properties, sold the call center, which comprises 106,000 net rentable sf. DTZ assisted in renewing the lease with Verizon before bringing the property to market. The building was constructed as big-box retail space in 1995 and repurposed several years ago. Verizon is a longtime tenant, having acquired the previous occupant, MCI WorldCom, in 2006. The location provides a strong employment base in surrounding Highlands Ranch and Lone Tree, as well as nearby retail amenities for employees. According to Douglas County records, the property sold to LYK Highlands Ranch LLC.