Jun
20
Denver Office Building Trades for $37M
ByAmstar purchased a seven-story, 131,000-square-foot property in the Cherry Creek submarket of Denver. The company is planning to invest nearly $2 million in various upgrades.
Amstar acquired The Citadel in the Cherry Creek submarket of Denver from KBS Realty Advisors. The 131,000-square-foot office building changed hands for $37 million, according to public records. Amstar is set to invest approximately $2 million in interior/exterior upgrades. CBRE’s Mike Winn, Tim Richey and Chad Flynn represented the seller. Brady O’Donnell, Jeff Halsey and Jill Haug of CBRE Capital Markets were in charge of arranging the financing.
WELL-POSITIONED PROPERTY
Located at 3200 E. Cherry Creek South Drive, the seven-story building offers convenient access to various hotels, shopping and dining options, including Hilton Garden Inn Denver Cherry Creek and Cherry Creek Shopping Center. The asset offers more than 350 subterranean parking spaces…
