Granite Place at Village Center, a new, fully leased Class AA office building in the southeast suburban submarket, has a new owner.
Holliday Fenoglio Fowler LP arranged $70.68 million in financing on behalf of Crestone Partners LLC for the purchase of the 299,568-square-foot building, which was completed this year. The building is leased to Charter Communications and CSG International. The recorded price was $126.95 million, or $423.78 per sf. That beats the previous record for a suburban office asset in Denver, $414 per sf.
Located at 6175 S. Willow Drive in Greenwood Village, the 10-story building is visible on Interstate 25 and within minutes of the Village Center light-rail station. Granite Properties developed the building in partnership with Confluent Development. Granite Place at Village Center features a large community area on the ground floor for working and socializing; full-height glass for abundant natural light and mountain views; conference facilities with a boardroom, large training room and prefunction staging area; a fitness center; and a full-service cafe.
HFF Senior Managing Director Eric Tupler represented the borrower in securing the six-year, fixed-rate, interest-only loan through Principal Real Estate Investors. The CBRE team of Mike Winn, Tim Richey, Chad Flynn, Jeff Shell and Jenny Knowlton represented the seller.
Watch for more details about the transaction in CREJ’s Jan. 3, 2018, issue.
