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Strong Interest in Strong Assets

Denver Office
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Submarkets ebb and flow, but there’s no substitute for a strong asset. Transwestern managing director Brad Cohen (here with colleague Larry Thiel) tells us that was the key attraction of the 89k SF Plaza Colorado, a mid-rise property at 5889 S Greenwood Plaza Blvd in Greenwood Village, which Florida-based Elion Partners recently acquired. Plaza Colorado has outperformed comparable buildings in the Greenwood Village and Southeast Denver office markets, Brad says.

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Brad and Larry, along with colleague Andrew Piepgras, repped the seller in the deal, and Transwestern will manage and lease Plaza Colorado going forward. The property has averaged over 90% occupancy during the past eight years, Brad says. The buyer plans lobby upgrades, elevator modernization, and on-site amenities such as a community room and fitness center. (No more swimming laps in the fountain.) It will be rebranded next spring.