{"id":1004602836,"date":"2022-09-16T11:36:16","date_gmt":"2022-09-16T19:36:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004602836"},"modified":"2023-03-22T22:48:07","modified_gmt":"2023-03-23T06:48:07","slug":"bancroft-capital-viking-partners-sell-denver-asset-for-33m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/","title":{"rendered":"Bancroft Capital, Viking Partners Sell Denver Asset for $33M"},"content":{"rendered":"
\"\"<\/a>

Cole Center. Image courtesy of JLL<\/p><\/div>\n

Bancroft Capital<\/strong> and Viking Partners<\/strong> have sold Cole Center, a recently renovated office building in metro Denver for $32.7 million. North Beacon Capital LLC<\/strong> is the new owner of the 155,610-square-foot asset.<\/p>\n

JLL Capital Markets<\/strong> negotiated the deal for the sellers. The property last traded in 2019, when the previous owner purchased it from Gemini Rosemont for $18.9 million, according to CommercialEdge. At the time of the current sale, the property was 88 percent leased.<\/p>\n

Cole Center is a four-story office building located at 1687\u20131707 Cole Blvd. in Lakewood, Colo., within the Denver West submarket, and dates back to 1981. The property’s last overhaul in 2021 included improvements to the lobby and renovated building features. Common-area amenities include a new fitness center equipped with showers and lockers, an outdoor plaza, on-site bike storage and 201 underground parking spots.<\/p>\n

The 5.7-acre lot sits at the intersection of Interstate 70 and Denver West Parkway, roughly 7 miles from central Lakewood and some 11 miles from downtown Denver. The tenant roster at Cole Center includes SCL Health, BOK Financial, New West Physicians and Colorado Department of Revenue, CommercialEdge data shows.<\/p>\n

Some of the recent high-profile office transactions in Denver include Menashe Properties Inc.\u2019s $50 million acquisition of Stanford Place III<\/a>, a 370,000-square-foot class A property, as well as Drawbridge Realty\u2019s $106 million purchase<\/a> of Arrow Buildings at Dry Creek Station, Arrow Electronics\u2019 long-term headquarters.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cole Center, an office building in Lakewood, Colo., last traded in 2019. <\/p>\n","protected":false},"author":2991,"featured_media":1004602838,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21783,21742,21747,15],"tags":[44006,40940,40262],"class_list":["post-1004602836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-investment","category-latest","category-office","category-west","tag-jll-capital-markets","tag-larry-thiel","tag-viking-partners"],"acf":[],"yoast_head":"\nBancroft Capital, Viking Partners Sell Denver Asset for $33M - CPE<\/title>\n<meta name=\"description\" content=\"Bancroft Capital and Viking Partners sold a recently renovated office building in Denver, Colo., for $32.7 million.\" \/>\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\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bancroft Capital, Viking Partners Sell Denver Asset for $33M\" \/>\n<meta property=\"og:description\" content=\"Bancroft Capital and Viking Partners sold a recently renovated office building in Denver, Colo., for $32.7 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/\" \/>\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=\"2022-09-16T19:36:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-23T06:48:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Cole-Center-e1663233571221.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/\",\"name\":\"Bancroft Capital, Viking Partners Sell Denver Asset for $33M - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Cole-Center-e1663233571221.jpg\",\"datePublished\":\"2022-09-16T19:36:16+00:00\",\"dateModified\":\"2023-03-23T06:48:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Bancroft Capital and Viking Partners sold a recently renovated office building in Denver, Colo., for $32.7 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bancroft-capital-viking-partners-sell-denver-asset-for-33m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Cole-Center-e1663233571221.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Cole-Center-e1663233571221.jpg\",\"width\":1068,\"height\":801,\"caption\":\"Cole Center. 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