{"id":1004671368,"date":"2023-07-10T03:15:02","date_gmt":"2023-07-10T11:15:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004671368"},"modified":"2023-07-18T07:28:42","modified_gmt":"2023-07-18T15:28:42","slug":"kiewit-sells-denver-office-campus-for-205m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/","title":{"rendered":"Denver Office Campus Trades for $205M"},"content":{"rendered":"
\"10051<\/a>

10055 Trainstation Circle. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

The joint venture of Benderson Development<\/strong> and CGA Capital<\/strong> has purchased Kiewit Corp.<\/strong>\u2019s nearly 400,000-square-foot Class A office campus in Lone Tree, Colo., for $205.2 million, public records show. In addition, CGA Mortgage provided $201.4 million in acquisition financing. Kiewit will remain at the campus under a 20-year lease.<\/p>\n

The property traded for a whopping $520.8 per square foot. Located at 10051 and 10055 Trainstation Circle in the 3,500-acre RidgeGate master-planned community, the campus comprises two office buildings, a parking structure for 950 vehicles and a surface parking lot.<\/p>\n

\n

READ ALSO:<\/strong> Are Suburban Offices Strengthening Their Comeback?<\/a><\/p>\n

\n

The first building, dubbed K1, came online in July 2021. The five-story, 252,000-square-foot structure features outdoor spaces, a cafe and a fitness center. The second building, K2, was finished the following year and totals 142,000 square feet, according to information from CommercialEdge.<\/p>\n

The property is near Lincoln Avenue and Interstate 25, adjacent to the Sky Ridge light rail station. Downtown Denver is some 17 miles northwest.<\/p>\n

Office sales across Denver<\/h2>\n

Metro Denver\u2019s office market saw $195 million in sales year-to-date as of May, according to a recent CommercialEdge report<\/a>. The price per square foot, averaging $233, was 19.5 percent higher than the one recorded on a national level. As of May, the supply pipeline amounted to 2.5 million square feet of office space underway, representing 1.6 percent of total stock.<\/p>\n

In one of the metro’s priciest deals recorded in the first five months of the year, Altus paid $54 million for a 101,725-square-foot office campus located in Denver’s Cherry Creek submarket. The sale price for the Class B property equates to $530.8 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sale-leaseback involves a 20-year lease. <\/p>\n","protected":false},"author":882,"featured_media":1004671379,"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":[41030,46160,36315],"class_list":["post-1004671368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-investment","category-latest","category-office","category-west","tag-benderson-development","tag-kiewit-power-construction-company","tag-sale-leaseback"],"acf":[],"yoast_head":"\nDenver Office Campus Trades for $205M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Benderson Development and CGA Capital have purchased Kiewit Corp.\u2019s nearly 400,000-square-foot Class A office campus in Lone Tree, Colo.\" \/>\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\/kiewit-sells-denver-office-campus-for-205m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Office Campus Trades for $205M\" \/>\n<meta property=\"og:description\" content=\"Benderson Development and CGA Capital have purchased Kiewit Corp.\u2019s nearly 400,000-square-foot Class A office campus in Lone Tree, Colo.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/\" \/>\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=\"2023-07-10T11:15:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T15:28:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/10051-Trainstation-Circle-e1688983423899.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"712\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/kiewit-sells-denver-office-campus-for-205m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/\",\"name\":\"Denver Office Campus Trades for $205M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/10051-Trainstation-Circle-e1688983423899.jpg\",\"datePublished\":\"2023-07-10T11:15:02+00:00\",\"dateModified\":\"2023-07-18T15:28:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Benderson Development and CGA Capital have purchased Kiewit Corp.\u2019s nearly 400,000-square-foot Class A office campus in Lone Tree, Colo.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kiewit-sells-denver-office-campus-for-205m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/10051-Trainstation-Circle-e1688983423899.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/10051-Trainstation-Circle-e1688983423899.jpg\",\"width\":950,\"height\":712,\"caption\":\"10051 Trainstation Circle traded for $520.8 per square foot. 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