10055 Trainstation Circle. Picture courtesy of CommercialEdge
The three way partnership of Benderson Growth and CGA Capital has bought Kiewit Corp.’s almost 400,000-square-foot Class A workplace campus in Lone Tree, Colo., for $205.2 million, public data present. As well as, CGA Mortgage supplied $201.4 million in acquisition financing. Kiewit will stay on the campus below a 20-year lease.
The property traded for a whopping $520.8 per sq. foot. Situated at 10051 and 10055 Trainstation Circle within the 3,500-acre RidgeGate master-planned neighborhood, the campus contains two workplace buildings, a parking construction for 950 autos and a floor car parking zone.
READ ALSO: Are Suburban Workplaces Strengthening Their Comeback?
The primary constructing, dubbed K1, got here on-line in July 2021. The five-story, 252,000-square-foot construction options outside areas, a restaurant and a health middle. The second constructing, K2, was completed the next 12 months and totals 142,000 sq. ft, in response to info from CommercialEdge.
The property is close to Lincoln Avenue and Interstate 25, adjoining to the Sky Ridge mild rail station. Downtown Denver is a few 17 miles northwest.
Workplace gross sales throughout Denver
Metro Denver’s workplace market noticed $195 million in gross sales year-to-date as of Could, in response to a latest CommercialEdge report. The worth per sq. foot, averaging $233, was 19.5 p.c larger than the one recorded on a nationwide degree. As of Could, the availability pipeline amounted to 2.5 million sq. ft of workplace house underway, representing 1.6 p.c of complete inventory.
In one of many metro’s priciest offers recorded within the first 5 months of the 12 months, Altus paid $54 million for a 101,725-square-foot workplace campus positioned in Denver’s Cherry Creek submarket. The sale worth for the Class B property equates to $530.8 per sq. foot.
