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JV Acquires 174K-SF Denver Office Portfolio
Knightbridge and Argosy acquired a two-building office portfolio for $14 million. The buildings, Three Maroon, built in 2001, and Maroon Five, built in 2008, combined, make up 174,000 square feet. The 4-story buildings sit on 10 acres in the Meridian International Business Center. Mark IV Capital was the seller.
The Colorado Real Estate Journal reports that a Knightbridge spokesman said the acquisition closed at a meaningful discount to replacement cost and prior sales prices of both assets. The blended occupancy of the two buildings averaged out at 88% with the average lease at 4.4 years.
Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented Mark IV. 1st Interstate Bank provided acquisition financing.
Since 2024, Knightbridge has acquired three area office buildings.
- ◦Sale/Acquisition
