DENVER, CO – May 1, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $71.1 million sale of Westmoor Place 8, 9 and 10, a three-building, Class A office campus totaling 428,029 square feet in the Denver-area community of Westminster, Colorado.
HFF marketed the property on behalf of the seller, and procured the buyer, CapRidge Partners, LLC.
Westmoor Place is located at 11400, 11300 and 11000 Westmoor Circle in Denver’s Northwest submarket, which is equidistant between Denver and Boulder. The office campus is positioned on more than 26 acres along U.S. 36 in a highly amenitized area that features more than 240 shops and restaurants at Flatirons Mall, The Shops at Walnut Creek and Westminster Promenade, among others. Additionally, the Northwest submarket has strong area demographics with an average household income within one mile of the property exceeding $111,000, which is nearly 20% higher than the Colorado average. The three- and four-story buildings are 79% leased overall to tenants including, CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics. Westmoor Place offers a market-leading amenity package that includes a full-service cafeteria, showers on every office floor, a fitness center, access to 3.5 miles of trails and open space and an on-call shuttle.
The HFF investment advisory team representing the seller included senior managing director Mark Katz and senior director Peter Merrion.
“Westmoor Place provided the investor with a diverse rent roll, leased to several large tenants with businesses focused in cyber security, health care and engineering,” Merrion said. “The quality of the buildings and tenancy offered a unique investment profile in Denver. The Northwest market continues to see incredible activity and Westmoor Place will be well-suited to capture the continued demand of users in the market.”
About CapRidge Partners
CapRidge Partners is a fully integrated investment management and operating company focused on value-add office properties in nine select U.S. markets, including Denver. Their strategy is to acquire well-located assets, below replacement cost, that offer opportunities to add value by providing proactive management, delivering enhanced customer service and wellness amenities, leasing to stabilized occupancies, marking-to-market expiring leases, and completing capital projects. Since 2012, CapRidge has acquired 39 office buildings.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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