Greenwood Village office tower sells to Crestone for $126.9 million

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Arapahoe County

Address: 5175 S. Willow St., Greenwood Village, “Granite Place at Village Center”

Land Size: 5.24 acres

Improvements: 10-story, 299,702-sf office building, YOC 2017

Date of Recording: 12/13

Reception No.: D7141073

Price: $126.95M, or $423.59 psf

Grantor: GPI-DTC LP, Stephanie Lawrence, [email protected]

Grantee: Granite Place LLC c/o Crestone Partners LLC, Robert T. “Bob” Flynn

Financing: $70.68M payable to Principal Life Insurance (56% loan to value)

Comments: Building includes 5,700-sf fitness center, 5,400-sf ballroom, three 1,000-sf meeting rooms, boardroom and conference facility. The building is a six-minute walk to a light-rail station and has five 3,500-pound elevators. There is a five-level of structured parking garage shared with RTD. The transaction was handled by CBRE Mike Winn, Chad Flynn, Tim Richey, Jeff Shell and Jenny Knowlton. The developer, Granite Properties, acquired the site for $32.82 per square foot, or $25, per buildable sf. It developed the building in partnership with Confluent Development.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

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