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Certus Acquires Pyramid Pointe Office Building In Englewood For $9.9M

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SOLD
$9,900,000

Colorado

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Office120,449 SF
Sold 07/20/2023
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Property Image
SOLD

Certus Acquires Pyramid Pointe Office Building In Englewood For $9.9M

9777 Pyramid Court Englewood, Colorado 80112, USA

See Similar Deals
Office120,449 SF
Sold 07/20/2023
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Summary

COLORADO
Asset Type:Office
Price Per Square Foot:$82
Total Square Footage:120,449 SF
Transaction Type:Sale

Certus has acquired Pyramid Pointe, a 120,449-square-foot office building located at 9777 Pyramid Court in Englewood, Colorado. The property was purchased from Graham Street Realty for a total of $9.9 million. The transaction was facilitated by brokers Aaron Johnson and Jon Hendrickson from Cushman & Wakefield. The office building is situated in the Englewood market and offers ample space for various commercial activities.

Summary of transaction details:

Adams Bank & Trust provided a $7.5 million acquisition loan for the purchase of Pyramid Pointe. At the time of sale, the property was 78 percent leased, with notable tenants including Envision Mechanical Engineers, Golden Triangle Construction, and DaVita. This acquisition presents a promising opportunity for Certus to expand its commercial real estate portfolio in Englewood, Colorado.

Players

Aaron Johnson
11 deals$199M volume
BROKER

Jon Hendrickson
Cushman & Wakefield
11 deals$199M volume
BROKER

SELLER

Details

SOLD
IMAGE: Aaron Johnson & Jon Hendrickson DATE: 07/20/2023 ADDRESS: 9777 Pyramid Court MARKET: Englewood, CO ASSET TYPE: Office BUYER: Certus SELLER: Graham Street Realty BROKERS: Aaron Johnson & Jon Hendrickson - Cushman & Wakefield LENDER: Adams Bank & Trust SALE PRICE: $9,900,000 SF: 120,449 ~ PPSF: $82 NOTE: Certus has acquired Pyramid Pointe, a 120,449-square-foot office building in Englewood, Colo., for $9.9 million from Graham Street Realty. Adams Bank & Trust provided a $7.5 million acquisition loan, and at the time of sale, the property was 78 percent leased with tenants including Envision Mechanical Engineers, Golden Triangle Construction, and DaVita.

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

$528,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61