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Phoenix & Southwest  + Southwest  + Office  | 

Quick Sale Enables Credit Union to Consolidate Operations

A broker team used its collective network to bring an opportunity to market and secure a buyer days before the listing went public. That 8,000-square-foot office property located at 8331 Continental Divide in Littleton recently sold to Continental Divide Holdings LLC. The purchase price was undisclosed.

The property was formerly a credit union branch and headquarters space, and includes a drive-thru, monument signage and an atrium lobby.

Avison Young principal Rick Egitto along with Justin Rayburn, Fountainhead Commercial principal, represented the seller, Colorado Credit Union. The buyer was represented by Dann Burke and Stephani Gaskins with CBRE Healthcare Real Estate Brokerage Services.

“The buyer plans to execute a renovation of the property for use as its pediatric practice,” said Egitto. “We are seeing the Denver market being driven by the strong demand for medical office space and expect that trend to continue over the next 12 to 18 months.”

The quick sale enabled the seller, Colorado Credit Union, to consolidate its operations at its new Denver headquarters building on San Juan Way. It will also provide a local pediatric practice to expand operations to a new office.

“Rick and Justin’s targeted strategy to identify a local owner/user buyer allowed for a short due diligence period. This aligned with our business goals to rapidly monetize this real estate asset and capture valuable equity to invest back into our business,” said Mike Williams, CEO with Colorado Credit Union.

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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.

  • ◦Acquisition