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Equus Capital Partners has acquired a two-building flex office portfolio at Centennial Valley Business Park in Louisville.
The buildings at 248 Centennial Parkway and 1172 Century Place sit on a 7.68-acre site that has a parking ratio of 3.7 spaces per 1K SF. The single-story buildings have a total of 88,832 SF and will be rebranded as Link @ Louisville.
Equus will improve the 18,799 SF vacant space with the installation of insulated glass roll-up doors where existing metal doors are either covered with drywall or provide no natural light. The outdoor spaces will be activated with communal tenant amenities that promote Colorado’s outdoor lifestyle.
As Boulder has become increasingly more crowded and expensive, communities along the U.S. 36 corridor and Front Range region such as Louisville have grown considerably, representing the largest population growth in Colorado since 2010. The 1.1M SF Centennial Valley Business Park has become an attractive alternative to Boulder because of its lower cost.
“This is our second acquisition in the northwest submarket since June 2018,” Equus Vice President Brant Glomb said. “We are particularly drawn to this part of the Denver MSA given that it is considered a hub of high-tech employment. Strong employment and population growth coupled with its proximity to both downtown Denver and Boulder are fueling the path of growth and strong real estate fundamentals of the northwest market.”
Riki Hashimoto, Dan Grooters, John Jugl and Paul Donahue of Newmark Knight Frank represented the seller, a joint venture between American Realty Advisors and Westcore Properties.
JLL Senior Vice Presidents Don Misner and Joe Health along with Vice President Patrick McGettigan are handling leasing.
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