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Northstar Commercial Partners Purchases 204,945 Square Foot Office Hub In Denver, Colorado’s Tech Center

07/24/2015
Northstar Commercial Partners purchased a 204,945 square foot office complex, the 5500 South Quebec building, in Denver, Colorado’s thriving Tech Center. According to the firm, the property, located in Greenwood Village, was acquired for $16,150,000 and is one of the largest office hubs in Colorado.

Northstar officials said they purchased the building as an attractive investment opportunity. The main tenant CoBank will be vacating the building in March 2016 to occupy a new build-to-suit opportunity. Northstar intends to secure a future tenants at the property, which has the potential to bring over 800 replacement jobs to the local community. This is a unique opportunity to secure larger space in a submarket where it is difficult to find availability.

"Our successful closing of 5500 South Quebec brings us all a good deal of excitement here at Northstar," said Brian Watson, Founder/CEO.

"In the near future, we look forward to partnering with local community and business leaders to bring over 800 jobs to this location, which will create opportunity for the employees, local businesses, and the community at large. In sum, we are in the business of creating opportunity for others through quality work environments."

"We're enthusiastic to find a replacement tenant for CoBank, in approximately 180,000 SF of office space. This will be one of the largest blocks of stand-alone contiguous office space in the market, at a lease rate that will be significantly below newly constructed buildings. In addition, this building has unimpeded Western Views, and is within walking distance of the Landmark retail project." Watson noted. Northstar is already working with several prospective tenants and user buyers for the building.

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