Colorado-Real-Estate-Journal_312861

Page 6 - November 16-December 6, 2022 www.crej.com Office Our real estate lawyers are known for connecting buyers, sellers, developers, builders, lenders, investors, landlords, and tenants with legal support to finance, acquire, divest, manage, develop, and lease real property assets nationwide. EXCELLENCE IN REAL ESTATE LAW Contact: Christopher Gunlikson 303.473.2729 cagunlikson@hollandhart.com 1800 Broadway, Suite 300 Boulder, CO 80302 hollandhart.com Discover the personal touch, the seamless service, and the expertise of our real estate professionals. Our relationship with Plante Moran goes beyond audit and consulting services. They’re like a business partner, providing valuable advice because they look at issues from a business person’s perspective. They have local presence and knowledge, but they also have strong national experience and are at the table for national policy decisions. We get the best of both worlds.” - President & CEO of a longtime client RJ McArthur | rj.mcarthur@plantemoran.com | 303-740-9400 plantemoran.com Make the mark. “ by Jenna Walters COLORADO SPRINGS – A premier Class A office asset in Colorado Springs recently traded hands following a com- petitive marketing campaign. Epic One, the 146,099-square- foot office building at 10807 New Allegiance Drive, is under new ownership by an affiliate of Boston-based Albany Road Real Estate Partners. Accord- ing to public records, the buyer acquired the property from an entity related to Crescent Real Estate for $31.72 million, or $217 per sf. Cushman & Wake- field’s Aaron Johnson and Jon Hendrickson brokered the transaction on behalf of the seller. Built in 2009, Epic One is located in the InterQuest busi- ness park on the north edge of Colorado Springs. The five-sto- ry building offers prominent visibility to more than 130,000 vehicles per day via Interstate 25, the Cushman team noted. Additionally, the property features efficient floor plates, high-end finishes, an on-site fitness facility and a 5:1,000 parking ratio. At closing, the property was 87% leased to a mix of users. “Epic One is a true trophy office asset and recognized as one of the highest-quality mul- titenant office buildings in Col- orado Springs. The property is well leased to a diverse tenant roster across many industry sectors, including aerospace and defense, health care and technology, providing durable in-place cash flow with potential sig- nificant inves- tor upside in a constrained Class A mar- ket,” said Johnson. “This premier asset is exceptional- ly located and has consistently performed at the top of the market, even defying the pan- demic, attracting and retain- ing tenants over the last three years.” According to Johnson, Epic One garnered significant inves- tor interest after hitting the market in June. The property received eight initial offers. Epic One represents Albany Road Real Estate Partners’ first investment in Colorado. Its portfolio totals more than 60 properties across different product types in several states. “We are pleased to introduce Epic One as our first acquisi- tion in Colorado,” said Peter Albro, managing director of Albany Road’s Mountain States office in Denver. “The location is in a distinct path of growth, marked by extensive retail and housing developments in the immediate area, as well as Cen- tura’s new InterQuest hospi- tal campus scheduled to open in mid-2023. Furthermore, we believe that Epic One’s asset quality and functionality will continue to resonate with ten- ants in the market.” Other News n U.S. – Easterly Govern- ment Properties Inc., a fully integrated real estate invest- ment trust focused on Class A commercial properties leased to U.S. government agencies, recently sold a 10-property portfolio totaling approximate- ly 668,000 square feet in sev- eral states, including Colorado, Louisiana and Pennsylvania. While nine of the properties closed on Oct. 27, one in Bill- ings, Montana, is expected to close in December. The port- folio is worth approximately $205.3 million. The portfolio includes the approximately 116,500-sf office building at 16401 E. Centretech Parkway in Aurora, leased to the Defense Health Agency. According to public records, the property sold to NGP VII Aurora CO LLC for $17.77 mil- lion. The portfolio also includes a 115,650-sf Lakewood facility leased by the U.S. Department of Energy. According to East- erly Government Properties, the portfolio is 99% leased to the U.S. government with a weighted average remaining lease term of 7.9 years. “This portfolio disposition exemplifies Easterly’s disci- plined adherence to its bullseye strategy and will enhance East- erly’s portfolio across several metrics, including its weighted average remaining lease term,” William C. Trimble III, Easter- ly’s chief executive officer, said in a company press release. “The sale of these assets pro- vides Easterly with the oppor- tunity to recycle capital and further refine the balance sheet as the investment backdrop continues to evolve.” Following closing, Easterly is expected to own 85 properties totaling 8.4 million sf. n METRO DENVER – Eric Shaw of Pinnacle Real Estate Advisors recently brokered two separate office sales in the Denver metro area. Shaw represented seller 735 S Xenon LLC in the sale of the 12,359-sf office building at 735 S. Xenon Court in Lakewood. Boston investor acquires trophy asset in Colorado Springs Please see 735 Xenon, Page 8 Epic One is under new ownership. Aaron Johnson

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