Office building changes hands for $26M

The Centerra office building, anchored by Northwestern Mutual, is under new ownership. Photo by Burl Rolett.

The Centerra office building, anchored by Northwestern Mutual, is under new ownership. Photo by Burl Rolett.

An Arizona-based firm has scooped up a suburban Denver office building.

Stream Realty Partners bought the Centerra office building at 1873 S. Bellaire St. near Colorado Boulevard and Interstate 25 this month for $26.68 million. At 188,129 square feet, the building traded at about $142 per foot.

AEW Capital Management sold Centerra to Stream Realty, in a deal that closed on March 3. AEW had owned the office building since 2006, when Denver real estate records show the firm bought Centerra for $25 million.

Representatives at Stream Realty’s Denver office did not return calls and emails seeking comment on the deal by press time.

About $1.25 million worth of building permits were issued last week for Centerra’s 16th, 17th and 18th floors.

The Centerra office building, anchored by Northwestern Mutual, is under new ownership. Photo by Burl Rolett.

The Centerra office building, anchored by Northwestern Mutual, is under new ownership. Photo by Burl Rolett.

A 188,000-square-foot office building in the Denver suburbs sold earlier this month to an Arizona firm for $26.6 million.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments