Strong Interest in Strong Assets
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.
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.