A California family picked a professional office building in downtown Parker for its first Colorado investment.
EPI Parker LLC paid $6.5 million, or $255.36 per square foot, for Twenty Mile Station III, a 25,454-sf building at 18801 E. Mainstreet. Built in 2000, the building is fully leased to 10 tenants.
Faestal Properties, which developed the two-story building as well as several other properties in the vicinity, was the seller.
Newmark Knight Frank Executive Managing Directors Dan Grooters and Riki Hashimoto represented the seller.
“We had really good activity,” said Grooters. “A lot of exchange buyers liked the stability of it and the long-term growth of the area.”
Coldwell Banker Residential Brokerage is the largest tenant at Twenty Mile Station III, which also includes a number of medical office tenants.
Grooters said the building represents “really high-quality construction” and includes brick and natural stone on the exterior.
“It’s in the heart of the new downtown Parker area with walkable retail right there,” he said.
Bowen Cardoza of CoSol Commercial Real Estate in Modesto, California, represented the buyer.
