CHICAGO – Avison Young announced today that AHC Funds, the private equity investment unit of Arthur Hill & Co., has selected the firm to market Cherry Creek Place III, the six-story office building totaling 107,000 square feet at 3151 South Vaughn Way in Aurora, Colorado, part of the Denver metropolitan area.
Avison Young executives leading the investment sales efforts include Principal Suzanne Martinez, Senior Vice President Alison Girard, and Associate Director Matt Hoffmann, all of whom are based in Avison Young's Chicago Capital Markets office, and Denver-based Principal Alec Wynne and Senior Vice President Phil Ruschmeyer.
“Cherry Creek Place III provides investors the unique opportunity to acquire a property with strong occupancy, a highly desirable tenant roster, and excellent access and visibility from both I-225 and Parker Road," said Martinez. "We expect healthy interest in the asset from both private and institutional investors, due to CCP III’s long term stabilized income and attractive in-place financing providing great returns for this investment."
The 96 percent leased, 6-story office building was originally developed by The Bill Walters Company in 1982, and most recently renovated in 2011.
The 107,000 square foot Energy Star-rated building includes tenants such as Colorado Technical University, and Pandey Hotel Denver, the building’s largest lessee, who has been a tenant in the building since 1993.
In addition to offering tenants unparalleled access and visibility from the Parker Road and I-225 interchange, Cherry Creek Place III is also a 10 minute walk from the light rail, and four miles from I-25 and the Denver Tech Center.
As part of the Cherry Creek Business Park, the well-maintained property features landscaped grounds, classic architecture, and adjacency to the Red Lion Hotel. The property boasts an above market average parking ratio of 3.7/1000 and includes covered, underground parking, a rarity in the market.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,500 real estate professionals in 53 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.