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Scott Blanding

Viking Partners Fund IV Acquires Greenwood Corporate Plaza

Private equity real estate investment firm Viking Partners Management Inc. on behalf its fourth value-add fund, in joint venture with Bancroft Capital, has acquired Greenwood Corporate Plaza, a 412,869-square-foot suburban office campus in Denver for $38.4 million. The acquisition is the first for Viking Partners out of its new Mountain West regional office in Denver under the direction of West Region managing director Scott Blanding. The acquisition increases its commercial office holdings in Denver to approximately 700,000 square feet.    

Built in 1981 and later renovated in 2015, Greenwood Corporate Plaza features four identical three-story class-B office buildings on a 36-acre site at 5990 Greenwood Plaza in the Denver Tech Center submarket of Greenwood Village, 10 miles southeast of downtown Denver. The property is within walking distance of the Village Center light rail station and less than a mile from Interstate 25, providing access throughout the MSA.     

The property was 57 percent occupied at closing. Viking Partners will implement a comprehensive multimillion dollar capital improvement plan that will include replacing the roofs and HVAC systems. 

“Greenwood Corporate Plaza is an extremely well-located transit-oriented property with efficient and large open floorplates, 9-foot ceiling heights and plenty of open space which is in demand by today’s modern office user,” said Blanding.  “We believe we can quickly stabilize the property by appealing to those who want quality office space that will compete with higher-priced alternatives in this dynamic suburban location.”


Inside The Story

Scott Blanding

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.

  • ◦Sale/Acquisition