Lowe Enterprises expands Denver presence

Makes second office building purchase this year
Published on Sep 20, 2006

Lowe Enterprises Investors has acquired a 138,000-square-foot office building in the Inverness Business Park in southeast Denver, Colo. The value of the transaction was $19.2 million. US Property Fund GmbH & Co. KG sold the four-story building, located at 10333 E. Dry Creek Road, to Lowe's value-added investment fund, Lowe Enterprises Real Estate Income and Growth Partners. "We are actively expanding our portfolio of office properties in Denver. The southeast region is a primary focus, as it is enjoying the early stages of what we believe will be a solid market recovery," said Brad Howe, managing director, Lowe Enterprises Investors. "Businesses continue to favor the southeast market, as it provides a good work environment with many amenities and will soon be connected to the rest of the metropolitan area by the new light-rail line." At the time of sale, the property was 86 percent leased to firms including Computer Associates, Centex Homes and New Horizons. Earlier this year Los...

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