Denver West

Denver West Office Park sold

HighBrook Investment makes $104 million purchase

Posted 11/10/14

As the Denver West shopping area celebrates its 20th anniversary, the 22-building Denver West Office Park has sold to HighBrook Investment Management LP.

The park, 1546 Cole Blvd., was purchased by the New York-based company for $104 million from …

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Denver West

Denver West Office Park sold

HighBrook Investment makes $104 million purchase

Posted

As the Denver West shopping area celebrates its 20th anniversary, the 22-building Denver West Office Park has sold to HighBrook Investment Management LP.

The park, 1546 Cole Blvd., was purchased by the New York-based company for $104 million from Connexion Asset Group of Lakewood. Connexion purchased the site in 2001.

“They’re (HighBrook) a terrific company that will bring a new management and investment to the park,” said Greg Stevinson, real estate developer and project lead. “People will be able to see the investment in the building exterior and interior upgrades.”

Stevinson said HighBrook would be focusing on leasing, but that the current tenants will be staying in place. He also said the company would be pursuing a more aggressive leasing strategy.

During the Nov. 3 study session where Lakewood City Council received an update on the Denver West project, Stevinson said offices are a bit of a weak link in the area currently, but future development may change that.

Work in the area is not done and Stevinsion said there is still a lot of development going on, including new apartments and the possibility of a new hotel. Shoppers will also see a Red Robin and Starbucks opening soon.

The 6.6 million square-foot Denver West area — which includes Colorado Mills and National Renewable Energy Laboratories — brings in around $100 million a year in tax revenue and has created 9,189 jobs in the area, as well as 15,175 jobs across metro Denver.

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