CBRE announced that it has completed the $9.36 million sale of 115 Inverness, a multi-tenant office property in Englewood, Colo. James Brady, Patrick Devereaux and Campbell Davis of CBRE represented the seller, Schnitzer West. Advanced Property Services purchased the property in a sale that closed Dec. 21.
“The Denver office market continues to draw investor interest, despite the ongoing pandemic. Investors are beginning to see the light at the end of the tunnel,” said Mr. Brady, First Vice President with CBRE Capital Markets in Denver.
Located at 115 Inverness Drive East, the 55,081-square-foot, three-story office building was originally constructed in 1982 and was recently renovated in 2019. The property is part of Inverness Business Park and features 142 parking spaces. The building was 85 percent leased at the time of sale to three tenants: Tetra Tech, PatientNow and Ricoh.
115 Inverness is walking distance from the Dry Creek Station of the RTD light rail line. The property is also located one half-mile from I-25 and within four miles of the I-25 and E-470 interchange as well as the I-25 and I-225 interchange.
Investment sales volume in metro Denver’s office market reached $571 million in the third quarter of 2020, according to CBRE research, bringing the year-to-date total up to $1.4 billion.
