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| 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.”
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| 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.”
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| 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
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