Colorado Real Estate Journal - March 2, 2016
A Mexico City family looking 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 Inverness Drive West, a 108,707-sf office building that was 100 percent leased. Onward Investors was the seller. Situated alongside Inverness Golf Course in Englewood, 160 Inverness is a four-story building 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 property. “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.