Colorado-Real-Estate-Journal_494028

Page 6 - November 19-December 2, 2025 www.crej.com Office by Avalon Jacka CENTENNIAL – A Centenni- al-based real estate investment group acquired an office building in the southeast submarket in an auction in September. Hoehn Capital LLC purchased Highland Place II, situated on 5.47 acres at 9110 S. Nichols Ave. from court-appointed receiver Judy Duran of CBRE for $7.26 million, accord- ing to Arapa- hoe County public records. CBRE’s Camp- bell Davis, Pat- rick Devereaux and Jim Brady facilitated the auction. H i g h l a n d Place II last sold for $14.26 million in July 2021, accord- ing to county records. Hoehn Capi- tal purchased Highland Place II’s sister prop- erty, the adja- cent Highland Place I, in Feb- ruary 2022. The auction provid- ed the opportunity for Hoehn Capital to own both buildings, according to Jonathan Hoehn of Hoehn Capital. The final sale price of Highland Place II ended up being about one-third of what Hoehn Capital paid for Highland Place I. “We saw it as tremendous opportunity to acquire an asset at a substantial discount,” Hoehn said. Hoehn had heard rumors that- some of the multifamily-affiliat- ed entities interested in buying Highland Place II were consider- ing tearing down the building to replace it with a high-rise apart- ment building. Hoehn pursued the opportunity to buy the asset to keep it as office space. “With that business park and the two identical buildings that are overlooking the pond, (mul- tifamily) would not be a good a good look for the area,” Hoehn said. “I was pretty determined to keep the view and the situation exactly like it sits.” Builtin1984,the143,701-square- foot property underwent renova- tions in 2018 and 2022 – includ- ing extensive lobby and atrium renovations, a new fitness center, and new common area confer- ence and training facilities – and was 61% occupied by a diverse rent roll at the time of sale, accord- ing to CBRE. Hoehn Capital’s plans for the property primarily include keep- ing current tenants in place and attracting new tenants, according to Hoehn. SVN Denver Com- mercial’s Elizabeth Leder and Albert Lindeman are managing leasing at Highlands Place II. “Both of the buildings are beau- tiful,” Hoehn said. “We have proven that they’re very desirable leasing opportunities for incom- ing tenants. Now, the market con- tinues to be a little bit tricky, so we’re going to continue to offer very competitive leasing packag- es that not only include good ten- ant improvement but also very competitive base rates and broker commissions.” The three-story, multitenant building features covered parking with a 3.01:1,000-sf parking ratio, unique floor-plate sizes, abun- dant outdoor deck space over- looking a water feature, a grab- and-go market and coffee bar, on- site property management and maintenance, and walkability to 12 restaurants within a block. Highland Place II provides proximity to two light-rail sta- tions within a mile and Centen- nial Airport, as well as convenient access to Interstate 25 and E-470 for connectivity to the broader Denver metro area. The property is surrounded by numerous exec- utive housing, hotel, dining and retail options in the Park Mead- ows Mall area and the southeast submarket. The asset is surrounded by a population of 220,560 and 87,516 households within 5 miles, according to a leasing brochure. The average annual household income within 5 miles is $176,848. Hoehn and his investment part- ners have been active in the Den- ver metro area real estate market for nearly 20 years. The group’s five-year strategy includes add- ing multiple assets in the south Denver and Colorado Springs markets to its portfolio. Other News n GOLDEN – An engineering firm acquired a flex building in north Golden for $1.5 million in October. Linkan Engi- neering Ltd. p u r c h a s e d the 9,624-sf property, situ- ated on 0.99 acres at 5920 McIntyre St., from McIntyre Holdings LLC. Wade Wilson and Tanner Digby of Digby C o m m e r c i a l Advisors rep- resented the seller, and Tan- ner Mason and Sam Alby of Benchmark Com- mercial represented the buyer. Approximately 90% of the building is office space, and the remaining 10% is flex industrial space. Positioned in unincorpo- rated Jefferson County, the asset features twin-T construction, heavy power and outdoor stor- Hoehn Capital buys Highland Place II at auction for $7.26M CBRE Built in 1984, the 143,701-square-foot Highland Place II was reno- vated in 2018 and 2022, and was 61% occupied by a diverse rent roll at the time of sale. Campbell Davis Jim Brady Patrick Devereaux Please see Linkan, Page 10 Wade Wilson Tanner Digby