WESTPARK OFFICE CENTER 4 BUILDING OFFICE CAMPUS
8461, 8471, 8501, 8601 Turnpike Drive
Westminister, CO 80031
Highlights
- 7.5% CAP Multi-Tenant Office Investment Opportunity
- Quickly Add Value Through Lease Up – History of 95% Occupancy
- Diverse Tenant Base with Staggered Lease Expirations
- Well Located, Highly Visible and Easily Accessed on US-36 at Sheridan Boulevard
- Well Maintained Property by 15 Year On-Site Owner
- In Demand Northwest Corridor Office Submarket
Description
Unique Properties and Newmark (“Agent”) are pleased to announce they have been retained to sell Westpark Office Center, an 80,708 square foot multi-tenant, office campus located in Westminster, Colorado. The four-building complex is located in the flourishing high-tech U.S. Highway 36 corridor adjacent to the Westminster Downtown redevelopment project and just minutes from Boulder and Downtown Denver.
Construction of the campus started in 1986 and was completed in 2001 on the 5.71-acre site with a parking ratio of 4.03 per 1,000. With on-site ownership and management, the buildings have been upgraded and well maintained. The strong diversified tenant base is comprised of healthcare and general office users and the campus is currently 88% leased generating an NOI of $930,529.
Westpark Office Center is a great office investment featuring a diverse mix of tenants, staggered lease expirations and Base Year expense reimbursements to hedge against expense increases. The property has a history of consistent 95%+ occupancy and is well located in Denver’s Northwest Office Submarket to serve the area’s small business office space requirements. This investment offering presents investors with an opportunity to acquire a stabilized, in demand office asset in the fast-growing Northwest metro office market.
Westpark Office is well located in Denver’s Northwest Office corridor minutes from the US-36 and Sheridan Boulevard exit in Westminster, Colorado. Turnpike Drive is a quiet cul-de-sac just off of Sheridan Boulevard, allowing for plenty of parking and great access to the area’s hotels, restaurants, retail services, shopping, and banking. Less than ½ mile away, the City of Westminster is currently redeveloping the former Westminster Mall site into Downtown Westminster, which will feature 105 acres of mixed-use office, retail and residential development. The property has great exposure and visibility from US-36 to more than 100,000 VPD and is located half-way between Downtown Denver and Boulder.
