Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is offering the opportunity to acquire Cherry Creek Place III, a 107,364-square-foot office property ideally positioned at the best location within the Aurora submarket. This for sale office building presents a unique opportunity for investors to acquire a rare value-add office asset with tremendous lease-up potential in one of Denver’s fundamentally strongest submarkets.
Situated at the interchange of Interstate 225 and Parker Road at 3151 South Vaughn Way, Cherry Creek Place III sits at the crossroads of the Denver Tech Center (DTC), the high-growth residential areas of southeast suburban Denver, Denver International Airport (DIA) and the affluent Cherry Creek area. The six-story property has attributes found only at Denver’s premier locations, such as direct access to light rail, a full-service hotel adjacent to the property and vehicular access to both a major interstate highway and heavily trafficked arterial roads. This location allows an investor to meet a desired employee demographic for most employers while offering economical lease rates thus creating significant demand for office space in the area.
Cherry Creek Place III sits within the Cherry Creek Place office complex that has benefited greatly from this demand, with the neighboring buildings attracting major anchor tenants such as ADT, TSYS, Verizon and Avitus. Additionally, the office property for sale exhibits fantastic fundamentals with highly-sought-after large blocks of available space, modernized elevators and tenants with a long operating history at the property. Cherry Creek Place III offers value-add investors the opportunity to take advantage of a property that has been leasing constrained but has had major upgrades completed that will reduce potential capital expense exposure as an investor executes their business plan at the property.
Cherry Creek Place III offers investors an opportunity to acquire one of the few true value-add deals in Denver with strong anchor tenancy and robust submarket fundamentals, all in one of the most accessible locations in Denver. For more information on this commercial property other office properties for sale, please contact Jules Sherwood or Nate Perry in HFF’s Denver office. Click here for our real estate investment sales search page for a current listing of commercial properties available for sale.