{"id":1004178516,"date":"2017-05-26T03:41:37","date_gmt":"2017-05-26T11:41:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004178516"},"modified":"2022-12-08T10:10:13","modified_gmt":"2022-12-08T18:10:13","slug":"capri-egm-nabs-comcast-denver-hq","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capri-egm-nabs-comcast-denver-hq\/","title":{"rendered":"Capri EGM Nabs Comcast Denver HQ"},"content":{"rendered":"

By Barbra Murray, Contributing Edito<\/em>r<\/p>\n

\"Comcast<\/a>

Comcast HQ, 7250 S. Havana St., Centenniel, Colo.<\/p><\/div>\n

Capri EGM has added a build-to-suit office property in suburban Denver to its rapidly growing holdings. The company recently acquired Inova I at Inova Dry Creek, a 212,000-square-foot property\u00a0that will be occupied in its entirety by Comcast Corp.<\/p>\n

\u201cWe continue to see corporations access both the sale-leaseback and build-to-suit markets. They view this as a better use of their capital; they can make more money by investing in their own product versus investing in real estate<\/em>,\u201d Shelby Pruett, co-chairman & CEO of Capri EGM, told Commercial Property Executive<\/em>.<\/p>\n

Capri EGM\u2014which specializes in corporate sale-leaseback and build-to-suit financing as well as the acquisition of institutional quality commercial properties\u2014acquired the office project at 7250 S. Havana St. in Centennial, Colo. from its developers, United Properties and Principal Real Estate Investors. The acquisition price remains undisclosed; however, according to\u00a0a report by the Winn Richey Team and\u00a0CBRE Group, the development cost of the five-story building was\u00a0approximately $70 million.<\/p>\n

Comcast pre-leased Inova I in June 2016 under a 10.5-year agreement. The global mass media and technology company plans to utilize the LEED-certified building, which will accommodate 1,400 employees, as the national headquarters for its Business Services Group. Designed by Powers Brown Architecture, Inova I will feature the coveted state-of-the-art, sustainable design that many office users require as a magnet for talent. It\u2019s the type of property that\u2019s eyed among investors in the build-to-suit arena.<\/p>\n

\u201cFrom an investment perspective, demand has been strong over the last several years and continues to be strong,\u201d said<\/em>\u00a0Pruett. \u201cWe\u2019re focused on the build-to-suit segment in the net lease market because it produces new products with environmental standards and design standards for today\u2019s needs, and other investors are seeing that, so there\u2019s a large demand\u2014domestic and international.\u201d<\/em><\/p>\n

Inova I marks Capri EGM\u2019s second major build-to-suit acquisition<\/a> this year. In January, the company announced that it had purchased 3450 Ingleside Blvd. in North Charleston, S.C. The office facility is leased to none other than Comcast, which uses the 80,000-square-foot building as its Center for Excellence training facility and for other business activities. \u201cWe want to maintain a healthy investment pace. We\u2019re low leverage, long-term hold, cash buyers; we don\u2019t have as much sensitivity to interest rates, so as long as there\u2019s good product, we\u2019ll remain an active buyer,\u201d<\/em> Pruett added. \u201cWe\u2019re interested in making substantial investments throughout the U.S. We\u2019re investing for pension funds here, and we\u2019re looking at investing for foreign investors. Middle Eastern money, Asian capital, German capital–they\u2019re attracted to the stability, capital preservation, strong income and appreciation this product type can deliver,\u201d <\/em>he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Inova I marks the firm’s second major build-to-suit acquisition this year. From an investment perspective, demand for these assets has been strong over the last several years and continues to rise.<\/p>\n","protected":false},"author":969,"featured_media":1004178529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21808,21783,21742,21747,15],"tags":[35828,33372,32779,35829],"class_list":["post-1004178516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-featured","category-investment","category-latest","category-office","category-west","tag-capri-egm","tag-comcast","tag-leed","tag-united-properties"],"acf":[],"yoast_head":"\nCapri EGM Nabs Comcast Denver HQ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capri-egm-nabs-comcast-denver-hq\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capri EGM Nabs Comcast Denver HQ\" \/>\n<meta property=\"og:description\" content=\"Inova I marks the firm's second major build-to-suit acquisition this year. 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