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Knightbridge Capital And Westside Investment Partners Acquire Office Buildings In Greenwood Village For $14.3M

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SOLD
$14,300,000

Colorado

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Office440,000 SF
Sold 07/09/2024
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Property Image
SOLD

Knightbridge Capital And Westside Investment Partners Acquire Office Buildings In Greenwood Village For $14.3M

8390 East Crescent Parkway & 8350 East Crescent Parkway

See Similar Deals
Office440,000 SF
Sold 07/09/2024
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Summary

COLORADO
Asset Type:Office
Price Per Square Foot:$32
Total Square Footage:440,000 SF
Transaction Type:Sale

Two office buildings at 8390 and 8350 East Crescent Parkway in Greenwood Village, CO, were sold for $14,300,000. The properties encompass a total of 220,000 square feet, with a price per square foot of $65. The buildings feature amenities including grand lobby entrances, covered parking, a shared amphitheater, and water features.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $14,300,000
  • Buyer: Knightbridge Capital & Westside Investment Partners
  • Seller: American National Insurance
  • Broker Representatives: Larry Thiel & Sean Whitney - JLL

Representing the seller in this transaction were brokers Larry Thiel and Sean Whitney from JLL. The sale marks a significant decrease from the $47.5 million spent by American National Insurance for the properties in 2014 and 2015.

Players

Larry Thiel
6 deals$146.3M volume
BROKER

Sean Whitney
JLL
2 deals$22.6M volume(303) 515-8036
BROKER

Details

SOLD
IMAGE: 07/09/2024 ADDRESS: 8390 & 8350 East Crescent Parkway MARKET: Greenwood Village, CO ASSET TYPE: Office BUYER: Knightbridge Capital & Westside Investment Partners SELLER: American National Insurance BROKERS: Larry Thiel & Sean Whitney - JLL SALE PRICE: $14,300,000 SF: 220,000 ~ PPSF: $65 NOTE: Knightbridge Capital and Westside Investment Partners purchased two Denver office buildings at 8390 and 8350 E. Crescent Parkway for $14.3 million, significantly less than the $47.5 million paid by American National Insurance for them in 2014 and 2015. The buildings total over 220,000 square feet and include amenities such as grand lobby entrances, covered parking, a shared amphitheater, and water features. JLL's Sean Whitney and Larry Thiel represented the seller in the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$762,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$50,804.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,789.30
Annual Debt Service$813,471.55