Cherry Creek Place III

Texas investor acquires Cherry Creek Place III for $6.6 million

By John Winslow
February 12, 2019
Arapahoe County
Property Location: 3151 S. Vaughn Way, Aurora, “Cherry Creek Place III”
Property Description: 107,364-sf, six-story office building, YOC 1981, masonry & glass construction
Land Size: 3.246 acres
Sales Price: $6.6M, or $61.47 psf
Closing Date: 2/1/19
Grantor: AHC Metro Cherry Creek III LLC, Tom Zabor, Signatory
Grantee: PBIV-3151 South Vaughn Way LP (Michael C. O’Malley, mgr.), 3800 N. Lamar, Suite 350, Austin, TX 78756, attn: Pennypacker Capital, 512-610-2910
Financing: $18M payable to Texas Capital Bank

Comments: Listed by Jules Sherwood of HFF, 720-744-2701. The building was 45% occupied at the time of sale. The anchor tenant is Colorado Passport Agency. The APN is: 1973-36-3-07-001.  Colorado Technical University Inc. has a lease, as recorded on D1013375, extending until April 30, 2021, with two-five-year options to renew.