Multibuilding complex acquired in Colorado

Property built, refurbished within last 6 years
Published on Nov 15, 2005

Marcus & Millichap arranged the sale of the 86,000-square-foot Westpark Office Center in Westminster, Colo. The value of the transaction was $10.3 million. Westpark Office Center is a four-building portfolio located on Turnpike Drive. The four buildings consist of two 25,000-square-foot, two-story buildings constructed in 2001; one 18,000-square-foot, two-story building built in 1999; and one 18,000-square-foot, two-story building built in 1986 and remodeled in 1999 with new finishes and refurbished roof and HVAC. At the time of sale, the property was 90 percent occupied by tenants that included Country Cos., Gillan's Engineering, Land America TransNation Titles, Traveler's Insurance Co., TTI Inc., Waddell & Reed, Westaff and Westmed Primary Care. Westpark Office Center LLC sold the property to Westpark IV LLC. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. *** What's your opinion? Send your Letter to the Editor to...

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