Texas investor acquires Cherry Creek Place III for $6.6 million

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Arapahoe County

Property Location: 3151 S. Vaughn Way, Aurora, “Cherry Creek Place III”

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Property Description: 107,364-sf, six-story office building, YOC 1981, masonry & glass construction

Land Size: 3.246 acres

Sales Price: $6.6M, or $61.47 psf

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Reception No: D9009649

Closing Date: 2/1/19

Grantor: AHC Metro Cherry Creek III LLC, Tom Zabor, Signatory

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Grantee: PBIV-3151 South Vaughn Way LP (Michael C. O’Malley, mgr.), 3800 N. Lamar, Suite 350, Austin, TX 78756, attn:  Pennypacker Capital, 512-610-2910

Financing: $18M payable to Texas Capital Bank

Comments: Listed by Jules Sherwood of HFF, 720-744-2701. The building was 45% occupied at the time of sale. The anchor tenant is Colorado Passport Agency.  The APN is: 1973-36-3-07-001. Colorado Technical University Inc. has a lease, as recorded on D1013375, extending until April 30, 2021, with two-five-year options to renew.

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 Colprop2012@gmail.com.

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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 Colprop2012@gmail.com.

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