Purchased for $15.5 Million
Two Buildings Totaling 189,000 SF
- Westminster was experiencing robust rent growth as vacancy rates compressed due to increased demand from prospective tenants being priced out of Boulder and Denver’s CBD.
- 55,000 SF of leases expiring during the anticipated hold period were paying rents significantly below market.
- Opportunity to terminate an 8,000 SF tenant in 10249 Church Ranch Way and create a single tenant NNN building.