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Belay, Harbor JV Buys Denver, SoCal Assets for $57M

Harbor Associates, LLC acquired a pair of assets in Denver and Southern California in a joint venture with Belay Investment Group, LLC for a combined $56.9 million.

Capitol Center (pictured) consists of a 12-story mid-century office tower attached to a historic, two story building that totals 166,000 square feet. The buildings are located at 225 E 16th and 1600 Sherman, respectively, in Denver’s Uptown neighborhood. The property, which has 47% in-place occupancy, was acquired from Steelwave for $28.9 million.

700 N. Central is an eight-story, 136,000-square-foot office building located in Glendale, CA that is 75%-leased, and was acquired from CBRE Global Investors for $28 million.

Harbor’s repositioning strategy for both assets include interior updates and exterior enhancements, along with spec suites and new building amenities.

CBRE represented the sellers in both transactions. Mike Winn, Tim Richey and Chad Flynn brokered the Denver transaction, while Michael Longo, Sean Sullivan and Todd Tydlaska led the Glendale sale.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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