DENVER (June 9th, 2021) – Kenai Capital Advisors and CWCapital Investment Management today announced that they have partnered again to acquire a portfolio from of three office/flex properties and one development parcel on Church Ranch Boulevard in Westminster, Colorado. The partnership purchased the 151,746 SF portfolio containing 7237, 7401, and 7403 Church Ranch Boulevard, as well as an adjacent vacant development site, from Etkin Johnson in an off-market transaction.
This portfolio provided the investment group institutional quality assets with value-add opportunities through the lease up of a vacant space and the potential for development on the 6.19-acre land parcel. The development parcel has already received preliminary approval for an 80,000sf flex industrial building. The existing three flex-office buildings are situated on a campus of 12.6 acres and are currently 82% leased to eight tenants with 27,986sf of modern, white-boxed space available immediately for lease.
Some of the institutional quality tenants that are occupy the spaces are household names such as Motorola, Cummins, Concentra Health Services, and UCHealth. The portfolio was built in 2000 and features 16’-18’ clear heights, 4.24:1,000 sf parking, individual suite entrances, roll-up doors, 800-amp power, LED lighting, expansive window lines, manicured landscaping with multiple fountains, and mountain views.
The convenient location just off Highway 36 and Church Ranch Boulevard, in between Denver and Boulder, offers tenants easy access to nearby retail and dining at the Shops at Walnut Creek and Westminster Prominade; hotels adjacent to the property including Marriot, Springhill Suites, Hyatt Place, and Drury Inn & Suites; and immediate access to open space, bike trails, and walking paths.
“We are very excited to once again partner with CWCapital for this exciting opportunity in the 36 corridor,” commented Jules Sherwood, Kenai’s principal. “This accessible campus provides a great destination for employers looking to attract and maintain employees in the Denver-Boulder area.”
CWCapital and Kenai Capital Advisors acquired the Compark Business Park, a 263,734 SF industrial portfolio in Englewood, Colorado for $41 million in January of 2020. “We are committed to expanding our investment footprint throughout the Denver market and this acquisition makes a great addition to our portfolio” commented Regina Lubin of CWCapital.
