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Denver Tech Center

Denver Tech Center’s Coveted Location Translates to Buyer Appeal

The two-property Denver Tech Center portfolio recently sold for $60.08 million. The portfolio consists of Stanford Place I (financed at $37.68 million and containing 273,963 square feet) located at 8055 E. Tufts Ave. and Yosemite (financed at $22.4 million and containing 202,158 square feet) located at 6455 S. Yosemite St.

The transaction was structured with a 10-year term with three years of interest-only followed by a 30-year amortization schedule. Christina Grimme, vice president in NorthMarq’s Cincinnati office, arranged the acquisition financing. NorthMarq secured the permanent fixed loan for the borrower, Alturas Capital Partners, through its relationship with a credit union.

Stanford Place I is a 14-story building roughly a quarter-mile from Interstates 25 and 225, and Yosemite, a 10-story office, is near light rail and retail.

“The coveted suburban location coupled with the diverse mix of national and regional tenants helped secure competitive financing. The three years of interest-only give the borrower some runway for additional lease-up and value creation,” explains Grimme.

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Christina Grimme

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Financing
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