Rees properties bought 185,000 square feet of office space at 8181 E. Tufts Ave. (Google Maps)
Mountain View money is headed for the Denver Tech Center.
A real estate investor that shares its hometown with tech giants like Google and Symantec has purchased 185,000 square feet of office space for $40 million.
Rees Properties, acting as 8181 LLC, bought the building in a deal that comes out to $218.61 per square foot, according to city records. Rees did not return a message seeking comment.
In concert with the sale Aug. 4, the buyer received a loan of $24.3 million from Principal Life Insurance Co. Rees principal Thomas J. Rees III signed for the loan.
The six-story office at 8181 E. Tufts Ave. sits southwest of where Interstate 225 meets DTC Boulevard. Its tenants include accounting heavyweight EKS&H, which leased 150,000 square feet in September 2016.
The seller is Westcore Properties, which is headquartered in San Diego. Westcore also owns the office building at 67 Inverness Drive East in Englewood, which is home to golf instruction and club-fitting company GolfTEC.
The office sale does not soar close to the $676-per-square-foot record set by the Triangle Building in Union Station earlier this summer, nor the $283.38-per premium recently commanded by the Citadel in Cherry Creek. But the south Denver sale handily edges out Anthem’s glassy Denver office in Golden Triangle, which traded for $181.50 per square foot in December 2016.
Rees properties bought 185,000 square feet of office space at 8181 E. Tufts Ave. (Google Maps)
Mountain View money is headed for the Denver Tech Center.
A real estate investor that shares its hometown with tech giants like Google and Symantec has purchased 185,000 square feet of office space for $40 million.
Rees Properties, acting as 8181 LLC, bought the building in a deal that comes out to $218.61 per square foot, according to city records. Rees did not return a message seeking comment.
In concert with the sale Aug. 4, the buyer received a loan of $24.3 million from Principal Life Insurance Co. Rees principal Thomas J. Rees III signed for the loan.
The six-story office at 8181 E. Tufts Ave. sits southwest of where Interstate 225 meets DTC Boulevard. Its tenants include accounting heavyweight EKS&H, which leased 150,000 square feet in September 2016.
The seller is Westcore Properties, which is headquartered in San Diego. Westcore also owns the office building at 67 Inverness Drive East in Englewood, which is home to golf instruction and club-fitting company GolfTEC.
The office sale does not soar close to the $676-per-square-foot record set by the Triangle Building in Union Station earlier this summer, nor the $283.38-per premium recently commanded by the Citadel in Cherry Creek. But the south Denver sale handily edges out Anthem’s glassy Denver office in Golden Triangle, which traded for $181.50 per square foot in December 2016.
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