Saturday, May 28, 2016

Accesso Partners Expands Footprint in Colorado; Acquires Stanford Place 1 in Denver Technology Center

Ariel Bentata
DENVER, CO --Accesso Partners, LLC, Hallandale Beach, FL. has deepened its move into Colorado by acquiring Stanford Place 1, a Class A 14-story office tower in  the Denver Technology Center from Broadreach Capital Partners of Palo Alto, CA. Price was not disclosed.

     The 273,963 square-foot building, located on six acres at 8055 East Tufts Ave., is 88% leased to a diverse mix of national credit rated companies including software, insurance, financial services, engineering and health care. No one industry represents more than 25% of the building’s tenancy. 

      “We’ve been tracking additional opportunities in the Denver Technology Center submarket the last two years since purchasing 6455 South Yosemite, also a Class A office tower that has been a strong performer for us,” said Ariel Bentata, Accesso’s managing partner, investments.

 “Stanford Place is larger and has the same coveted northeast Tech Center location. It’s a quarter mile from the convergence of I-25 and I-225 with a nearby light-rail system and offers sweeping views of the mountains. This acquisition should provide Accesso additional economies of scale as the firm expands its holdings in Denver.”

Brian Rosen
      Bentata, who said Accesso is “actively looking to further deepen and broaden its presence in the Denver market, credited the seller, Broadreach Capital, with “investing in--and caring for--Stanford Place I during its ownership’s hold period. The asset has been maintained to the highest institutional quality standards, earning a Silver LEED rating.”

       Stanford Place I has efficient 20,000-square foot rectangular floor plates, a large tenant fitness center, conference center, a deli and covered parking. It is a 15 minute commute to downtown Denver and 20 minutes by RTD light rail.

       “DTC’s access and proximity to downtown and the region’s work hard, play hard and enjoy life mindset is a big reason tenants can attract top talent,” contends Brian Rosen, Accesso’s managing director of acquisition.

 Among the largest of the tenants are Moody Insurance Agency, Lincoln National Life, Smith Seckman Reid, Chicago Title, Nike, Sumitomo Corp. and Providigm.

       Rosen said Accesso is again focusing on the Denver Technology Center. “At our recent annual Brokers Conference in Miami, attendees generally agreed that suburban office properties offered the greatest value potential across markets. The growth of the DTC seems to underscore that consensus.”

Stanford Place 1, 8055 Tufts Avenue,
Denver Technology Center, Denver, CO
      Broadreach Capital Partners appointed CBRE’s Denver office to broker the sale. “We marketed the property nationwide and there were numerous competitive bidders,” said Chad Flynn, vice president of CBRE institutional properties team which includes Tim Richey, vice chairman, Mike Winn, vice chairman and Jenny Knowlton, senior associate. The team sold 6455 S. Yosemite to Accesso Partners in January, 2014.

         Flynn said the buyer “moved very quickly, did its due diligence in two weeks and put down a substantial non-refundable deposit. Accesso has a reputation for transacting expedited closings on schedule.”

        Susan Hill, senior managing director of HFF in Houston, arranged the acquisition financing.

        Cushman and Wakefield’s Denver office has been appointed leasing manager for Stanford Place I.

Susan Hill
         Accesso Partners LLC is a full-service, vertically integrated commercial real estate investment manager, owner and operator that aims to provide superior returns to its U.S. and international individual and institutional investors.

Accesso’s focus is on acquiring commercial office properties in Class A locations in the largest, fastest growing metropolitan cities and premier suburban submarkets throughout the U.S.

Accesso’s property portfolio includes 41 office properties covering 13 million SF. Its affiliate, Accesso Services LLC, provides proactive, cost-efficient property management services with an owner’s mindset.

Accesso Partners LLC is headquartered in Hallandale Beach, FL and has offices in Atlanta, Chicago, Dallas, Houston and Minneapolis.

For a complete copy of the company’s news release, please contact:

Chris Barnett
Chris Barnett Communications
2001 Fillmore St. Suite 104
San Francisco, CA 94115
(415) 921-5092 office
(415) 336-5092 mobile

No comments: