A group that took a Centennial office/flex building from cold-shell condition to 95 percent occupancy sold the property to a California buyer for $10.16 million.
ME Landings LLC, made up of David J. Erb & Co. and Montex LLC, bought the 81,946-square-foot Centennial Technology Place at 6912 S. Quentin St. from a lender in 2011. The previous tenant had gutted the two-story building, and it had no operating HVAC or electrical distribution systems, said David J. Erb of David J. Erb & Co.
ME Landings completed the HVAC and electrical systems, and finished out a portion of the space for Laser Technologies, which has grown to occupy 66 percent of the building. Amerita and Alpha Recovery Corp. signed leases for approximately 12,000 sf each in 2015, bringing overall occupancy to 95 percent.
“It took us six years to implement our program, but ultimately our program was successful,” said Erb.
The buyer was 8542 Slauson LLC, a Long Beach family group.
Dan Grooters and Riki Hashimoto of Newmark Knight Frank handled the sale of
Centennial Technology Place, which was built in 1984.
“David bought the building distressed and vacant, went in and really repositioned the entire building,” said Hashimoto. “Even though it’s an older vintage asset, he really brought it up to current market standards – new mechanicals, all new tenant finish throughout – and really turned it into a high-finish office building.”
The building is located on the Arapahoe Road corridor, near Centennial Airport. It provides flexible floor plates, screened outside storage and 4.75 parking spaces per 1,000 sf.
