{"id":1004304041,"date":"2019-02-28T08:58:53","date_gmt":"2019-02-28T16:58:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004304041"},"modified":"2019-02-28T09:01:22","modified_gmt":"2019-02-28T17:01:22","slug":"northstar-commercial-partners-sells-denver-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northstar-commercial-partners-sells-denver-office-property\/","title":{"rendered":"Northstar Commercial Partners Sells Denver Office Property"},"content":{"rendered":"<div id=\"attachment_1004304134\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004304134\" data-attachment-id=\"1004304134\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/northstar-commercial-partners-sells-denver-office-property\/northfield-commercial-partners-denver\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Northstar Commercial Partners&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Northfield Commercial Partners Denver&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Northfield Commercial Partners Denver\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Northfield Business Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg?w=400\" class=\"wp-image-1004304134 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004304134\" class=\"wp-caption-text\">Northfield Business Center<\/p><\/div>\n<p>Northstar Commercial Partners has sold Northfield Business Center, an office property in Denver, for $4.3 million. The firm purchased the building back in January 2015 from DSP for $2.5 million, as a value-add investment. Since then, the company has increased occupancy from 29.6 percent to 94.8 percent.<\/p>\n<p>Located at 12000 E. 47th Ave., the 1973-built property features 56,610 square feet across four stories. According to Yardi Matrix, current tenants include Trio Credit Care, DSP Builders, Hydro Gate and Academy 360, which Northstar secured a 10-year lease with through 2025.&nbsp;<\/p>\n<p>The asset is within close proximity to Interstate 70, Denver&#8217;s largest highway, situated between Denver International Airport and downtown Denver.&nbsp;David Martin of Martin Co. Commercial Real Estate Inc. and Steve Mimnaugh of Olympic Partners LLC represented Northstar in the deal.&nbsp;<\/p>\n<p>&#8220;<i>Prior to purchasing Northfield, our team was able to identify&nbsp;<span class=\"xn-location\">Northeast Denver<\/span>&nbsp;as a reasonable area for growth. While&nbsp;<span class=\"xn-location\">Denver<\/span>&nbsp;vacancy rates were hovering around 13 percent in the metro area, this asset was clearly being underused\u2014especially given the condition of the building,<\/i>&#8221; said Brian Watson, chairman &amp; CEO of Northstar Commercial Partners, in a prepared statement.&nbsp;<\/p>\n<p>Back in December, the company&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/northstar-sells-114-ksf-medical-building-in-colorado\/\">sold its interest in Potomac in Aurora<\/a>, a 113,568-square-foot building in Aurora, Colo., for $34.8 million.&nbsp;<\/p>\n<p><em>Image courtesy of&nbsp;Northstar Commercial Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Northfield Business Center last traded back in January 2015, when the firm purchased it as a value-add investment. Since then, the asset has grown in occupancy by more than 65 percent. <\/p>\n","protected":false},"author":746,"featured_media":1004304134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1587,21783,21742,21747,15],"tags":[40370,39030],"class_list":["post-1004304041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-denver","category-investment","category-latest","category-office","category-west","tag-brian-watson","tag-northstar-commercial-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Northstar Commercial Partners Sells Denver Office Property - 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\/northstar-commercial-partners-sells-denver-office-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Northstar Commercial Partners Sells Denver Office Property\" \/>\n<meta property=\"og:description\" content=\"Northfield Business Center last traded back in January 2015, when the firm purchased it as a value-add investment. Since then, the asset has grown in occupancy by more than 65 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northstar-commercial-partners-sells-denver-office-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-28T16:58:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-28T17:01:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Northfield-Business-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"Northstar Commercial Partners Sells Denver Office Property\",\"datePublished\":\"2019-02-28T16:58:53+00:00\",\"dateModified\":\"2019-02-28T17:01:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/\"},\"wordCount\":232,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/02\\\/Northfield-Business-Center.jpg\",\"keywords\":[\"Brian Watson\",\"Northstar Commercial Partners\"],\"articleSection\":[\"Deals\",\"Denver\",\"Investment\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northstar-commercial-partners-sells-denver-office-property\\\/\",\"name\":\"Northstar Commercial Partners Sells Denver Office Property - 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