Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 6850 West 52nd Avenue in Arvada, Colorado for just over $3.0 million. The 28,492-square-foot Class B, multi-tenant office building was purchased by a Louisiana-based private investor represented by Craig Tomlinson of Northmarq. The seller was an individual investor based in Washington.
“Multi-tenant office is alive and well in markets like Denver,” said Tomlinson, Senior Director and Partner in Northmarq’s Tulsa, Oklahoma headquarters. “Our client is typical of those who are on a relatively safe strategy to achieve long-term appreciation.”
The two-story office building was built in 1998 and is situated on 2.6 acres. Building tenants include HomeGuard Services and Venture Financial, among others, and the property was approximately 91 percent leased at the time of sale. The site features convenient access to Interstates 70 and 76, and the property is located less than 10 miles from downtown Denver.