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Institution Driven Class A Sale | Denver 10475 Park Meadows Dr

166,708 SF Vacant Office Building Online Auction Sale Lone Tree, CO 80124

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Virtual Tour

Investment Highlights

  • ParkRidge One provides a versatile, vacant Class A office ideal for owner/users and value-add investors to break into the Lone Tree suburb of Denver.
  • Sitting just off I-25, the property enjoys easy access to quality urban amenities, beautiful golf courses, and fast-growing bedroom communities.
  • Numerous modern features include wall-to-wall windows with mountain views, large floor plates, an on-site café, and locker rooms with showers.
  • Strong 5-mile workforce pipeline, with over 201,000 residents and daytime employment of 139,000, with 61% carrying bachelor’s degrees or higher.

Executive Summary

CBRE has been exclusively retained to sell ParkRidge One, a Class A office building located in Southeast Suburban Denver. The building’s unique architecture, outstanding design features, and accessible location also make this one of the most attractive lease-up or development opportunities in Colorado. Constructed in 1999, ParkRidge One is newer than 80% of Southeast Denver’s office market, a significant competitive advantage.

With abundant modern features and a timeless interior design, this stunning 166,708-square-foot corporate center is perfect for a wide range of office users. The space is defined by a bright two-level atrium, wall-to-wall windows offering mountain views on every floor, and spacious floor plates ideal for large and small businesses. ParkRidge has NRA/NUA efficiency factors of 1.06 for single-tenant floors and 1.09 for multi-tenant floors. It features 5-foot planning grids, multiple raceways allowing access for multiple self-healing fiber optic providers, and a dual substation electrical feed. Eight watts per square foot of power throughout for tenants and one thermostatically controlled HVAC zone per 1,000 square feet add to a building grounding system for tenant telephone and electrical systems. Other desirable features include an on-site café, a shared training center, locker rooms with showers, secure controlled access, and an IDF Room with an uninterruptible power supply (UPS). Parking is a breeze, thanks to a parking ratio of 4.10 with over 680 stalls, including 62 subterranean parking spaces.

ParkRidge One is located within Southeast Denver’s Meridian/ Douglas County submarket, offering tremendous access and visibility at the intersection of Interstate 25 and Lincoln Avenue. This location provides an easy commute to fast-growing bedroom communities. In addition to unparalleled visibility and signage, this TOD asset is located less than a half-mile from both Lincoln Station and SkyRidge Station, offering convenient light rail and bus access.

ParkRidge One is surrounded by Southeast Denver’s premier neighborhoods, including Castle Pines, Lone Tree, RidgeGate, and Parker, boasting some of the strongest demographics in the country. The growing population within 5 miles of the property currently exceeds 201,000, with daytime employment of 139,000. With 61% of residents carrying a bachelor's degree or higher and 89% of workers employed in service-producing industries, there is a meaningful pipeline of qualified new talent for businesses in the area.
RidgeGate is one of Denver’s most rapidly expanding residential and commercial areas. The vital hub offers a state-of-the-art hospital, burgeoning retail centers, executive housing, new apartment communities, hotels, and the corporate Charles Schwab and Kiewit campuses totaling nearly 1 million square feet. Additionally, the Park Meadows Mall is just 2 miles north of the property, a 1.6 million-square-foot indoor/outdoor hybrid shopping mall. The mall offers anchors, including Nordstrom, Macy’s, and Dillard’s, as well as ancillary retailers, including IKEA, dozens of restaurants, and specialty stores.

Secure a well-maintained Class A office building with an exceptional location in Southeast Denver at 10475 Park Meadows Drive, ParkRidge One.

Offering Memorandum Click Here to Access

Data Room Click Here to Access

Market Analytics Click Here to Access

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Market Sale Price per SF

Denver - CO USA

Market Cap Rate

Denver - CO USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

Property Facts

Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Building Size
166,708 SF
Building Class
A
Year Built
1999
Percent Leased
Vacant
Tenancy
Multiple
Number of Floors
6
Typical Floor Size
27,785 SF
Slab to Slab
13 ft
Building FAR
0.39
Land Acres
9.70 AC
Zoning
PUD
Parking
683 Spaces (4.1 Spaces per 1,000 SF Leased)

Amenities

  • Atrium
  • Controlled Access
  • Conferencing Facility
  • Restaurant
  • Monument Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Floor
  • 26,000 SF
  • Office
  • Full Build-Out
  • Now
  • 2nd Floor
  • 26,750-27,155 SF
  • Office
  • Full Build-Out
  • Now
  • 3rd Floor
  • 28,400-28,500 SF
  • Office
  • Full Build-Out
  • Now
  • 4th Floor
  • 28,403 SF
  • Office
  • Full Build-Out
  • Now
  • 5th Floor
  • 28,347 SF
  • Office
  • Full Build-Out
  • Now
  • 6th Floor
  • 28,403 SF
  • Office
  • Full Build-Out
  • Now
Space Size Space Use Condition Available
1st Floor 26,000 SF Office Full Build-Out Now
2nd Floor 26,750-27,155 SF Office Full Build-Out Now
3rd Floor 28,400-28,500 SF Office Full Build-Out Now
4th Floor 28,403 SF Office Full Build-Out Now
5th Floor 28,347 SF Office Full Build-Out Now
6th Floor 28,403 SF Office Full Build-Out Now

1st Floor

Size
26,000 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Floor

Size
26,750-27,155 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Floor

Size
28,400-28,500 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

4th Floor

Size
28,403 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

5th Floor

Size
28,347 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

6th Floor

Size
28,403 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Floor

Size 26,000 SF
Space Use Office
Condition Full Build-Out
Available Now

2nd Floor

Size 26,750-27,155 SF
Space Use Office
Condition Full Build-Out
Available Now

3rd Floor

Size 28,400-28,500 SF
Space Use Office
Condition Full Build-Out
Available Now

4th Floor

Size 28,403 SF
Space Use Office
Condition Full Build-Out
Available Now

5th Floor

Size 28,347 SF
Space Use Office
Condition Full Build-Out
Available Now

6th Floor

Size 28,403 SF
Space Use Office
Condition Full Build-Out
Available Now

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2024 Population
14,437
61,389
201,876
2020 Population
11,940
56,060
194,995
2029 Population
16,679
69,083
221,380
2024-2029 Projected Population Growth
15.5%
12.5%
9.7%
Daytime Employees
14,354
63,880
139,666
Total Businesses
2,050
6,104
14,408
Average Household Income
$131,497
$144,798
$151,093
Median Household Income
$102,699
$117,279
$124,296
Total Consumer Spending
$245.8M
$1B
$3.4B
Median Age
35.7
38.4
39.1
2024 Households
6,898
25,526
76,997
Percent College Degree or Above
37%
37%
37%
Average Home Value
$845,233
$691,724
$670,193
$ values in USD

zoning

Zoning Code PUD
PUD

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 2231-104-02-010
  • 2231-104-02-033
Land Assessment
£872,690
Improvements Assessment
£6,669,503
Total Assessment
£7,542,193

About the Architect

Read More

Sale Advisors

Sale Advisors

(303) 628-7467
Contact
Chad Flynn, Senior Vice President
(303) 628-7467
Contact
Chad Flynn joined CBRE in 2014 as Vice President with Capital Markets, Institutional Properties in Denver, Colorado. As a leader of a nine-person team, his primary responsibilities include providing brokerage services and strategic analysis.

Prior to joining CBRE, Chad’s most recent positions included nine years as a director with Cushman & Wakefield, assistant vice president with GMAC Commercial Mortgage for more than five years, two years as a loan officer for AMRESCO Capital and four years with Norwest Bank (now Wells Fargo Bank).
(303) 583-2003
Contact
Chris Cowan, Vice Chairman
(303) 583-2003
Contact
Chris Cowan is a Vice Chairman in CBRE’s Colorado office, where he leads the Institutional Properties team with partners Shane Ozment and Terrance Hunt. Chris primarily focuses on urban infill and suburban land sales, equity placement for new development, and multifamily asset sales. Mr. Cowan is a 17-year veteran who has been involved in the sale of over 27,000 units with a total consideration over $1 billion. He is widely seen as a leader in the Colorado market with unprecedented knowledge of land brokerage and multihousing development. Chris is consistently ranked as the Top Land Broker in Colorado by DMCAR and NAIOP and was named the DMCAR Broker of the Year in 2017.

About the Auction Platform

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More

Auction Contact

Molly Patten
Auctioneer License: Ten-X Arlene Richardson RE Brkr EC.100067651
  • Listing ID: 33617711

  • Date on Market: 31/10/2024

  • Last Updated:

  • Address: 10475 Park Meadows Dr, Lone Tree, CO 80124

Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount Transaction Fee
$0m to < $1m 5.00% ($20,000 min)
$1m to < $3m 3.00%
$3m to < $5m 2.50%
$5m to < $10m 2.25%
$10m to < $15m 2.00%
$15m to < $25m 1.75%
$25m to < $35m 1.50%
$35M to < $45M 1.00%
$45M to < $55M 0.75%
$55M and Up 0.50%
Example Calculation
Winning Bid Amount $4,000,000 Transaction Fee $100,000 (2.5%) Total Purchase Price $4,100,000

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