California Investor Enters Denver Market with $20M Acquisition
Newport Beach, CA-based BKM Capital Partners entered the Denver market via the $20-million acquisition of Inverness Business Park, a 215,268-square-foot industrial asset. The eight-building property was sold by an unnamed private family office.
BKM’s Brian Malliet says, the deal for the Class A property reflects a 57% discount to replacement cost. The buyer plans to invest nearly $2 million in upgrades to the asset located at 14 Inverness Drive East in Englewood, CO.
The property is situated within a 980-acre high image master-planned project anchored by companies such as Boeing and Comcast. The site fronts Inverness Golf Course, and is readily accessible from Interstate 25, the major north-south transportation corridor running through the heart of Denver. The asset is 91% occupied by 86 tenants.
BKM was self-represented. NKF represented the seller.