​DENVER – Transwestern’s Denver office today announces it represented the undisclosed seller of Highlands Ranch I and II, located at 630 – 640 Plaza Drive in Highlands Ranch, Colorado. The 152,603-square-foot office property was acquired by Bancroft Capital. Managing Directors Brad Cohen and Larry Thiel of Transwestern’s Denver Capital Markets Group brokered the transaction.

Highlands Ranch I and II were constructed in 2001 and sit on 10 acres. This extremely efficient property takes full advantage of mountain views and signage visible to State Highway 470. The property was 94 percent leased to 17 tenants at the time of sale.

“Highlands Ranch I and II is a best-in-class asset in Highlands Ranch, and we were very happy with the activity for this core-plus opportunity,” said Cohen. “The Highlands Ranch submarket is constrained with limited space available and no plans to further develop. This was a key selling point to prospective buyers.”

Highlands Ranch is currently home to more than 2,000 businesses with more than 19,000 employees. The area enjoys one of the lower tax rates in the south metropolitan area due to its unincorporated affiliation.

“Often overlooked by investors, the Highlands Ranch submarket has proven to be a preferred location for several of Denver’s largest tenants,” said Thiel. “Major employers in the vicinity include Dish Network, Liberty Media, Western Union, Charles Schwab, Lucent Technologies and Visa’s global technology center. These primary employers lead to many secondary jobs, keeping the vacancy rates at all-time lows.”

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Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service — the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Denver office, follow @TranswesternCO.

 

 

Media Contact:
Lauren Kendall 
303.407.1455
lauren.kendall@transwestern.com
twmediarelations@transwestern.com