Office building sale in Centennial - 7200 East Dry Creek Road
Posted on Tue, Dec 21, 2010
Dry Creek Office Village, located at 7200 E. Dry Creek Rd., is comprised of seven two-story office buildings and one single-story retail building. Over the past three years, the property has undergone over $800,000 in renovations, including: new stucco, stone facades, signage, landscaping, lighting, parking lot improvements, and much more. This office property is within close proximity to the Denver Tech Center, the I-25 corridor, and the Park Meadows Mall area.
Matt Ritter and Jeff Johnson, commercial real estate brokers and Principals for Pinnacle Real Estate Advisors in Denver, assisted the Seller and Gary Sonmore, of Prosource Realty, assisted the Buyer in the transaction. The transaction closed on December 21, 2010 with a contract price of $3,825,000. Shawn McGoff, from Bank of the West Commercial Banking, financed the Buyer’s acquisition at 70% LTV. The general terms of the loan were a 5 year fixed rate and a low 5% interest rate. The Buyer intends to hold the property long term.
For more information on this office building sale in Denver or other Colorado commercial real estate transactions please contact Jeff Johnson or Matt Ritter at 303.962.9555.