Historical Office Sale Listing - Redstone College Building

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Redstone College Building

10851 West 120th Avenue, Broomfield, CO 80021

N/A

51,302 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
51,302 SF
Property Type:
Office
Property Sub-type:
Office-Warehouse
Property Use Type:
Net Lease Investment with
5 years left on lease
Cap Rate:
10.06%
Occupancy:
100%
Tenancy:
Single
Lot Size:
6.23 AC
Listing ID
16541928
Last Updated
over 1 year ago

Highlights

  • Stable Tenant
  • Counter-Cyclical Industry
  • Future Development Potential
  • Attractive Demographics
  • Excellent Access

Description

CB Richard Ellis, as the exclusive agent for the owner, is pleased to offer the opportunity to acquire a single tenant office/industrial facility under an absolute triple-net lease to Paris Management Corporation (doing business as Redstone College) who is 100% owned by Alta Colleges, Inc (Alta). Alta operates 19 campuses in 6 states and is the parent company of a system of higher education institutions that include Westwood College, Redstone College and Westwood College Online. Alta also holds 12.5% of outstanding shares of The Princeton Review (Nasdaq: REVU), a leading provider of test preparation and educational support services. Alta' s Redstone College has been operating at the subject property since 1965 and is one of the few technical colleges in the country offering degrees in aviation, construction management and HVAC. The subject property includes four buildings totaling 51,302 square feet of rentable area built in phases from 1964 to 1980.

Nestled against the backdrop of the Rocky Mountains between Denver and Boulder, the property is ideally located along 120th Avenue just west of U.S. 287, with direct access to U.S. Highway 36, providing convenience to both Denver and Boulder. The property is also enjoys proximity to the Northwest Parkway, a recently completed freeway connecting the northwest area of Denver to the Denver International Airport.

Less than a mile from the property is Flatirons Crossings Regional Mall and the Flatiron Marketplace, featuring over 200 retail shops, including anchors such as Nordstrom, Macy' s, Dillard' s, AMC-15 Theatre, Best Buy, Office Depot, The Great Indoors and Wal-Mart among many others. Redstone College is also within proximity to the Interlocken Business Park, a 963 acre mixed-use development featuring 4.3 million square feet of office space, a 390-room Omni Interlocken Resort and Conference facility, and a 27-hole championship golf course. Just southeast of Interlocken and also adjacent to the property is the newly built Broomfield Event Center which is host to professional basketball and hockey teams in addition to concerts and other special events.

Map of 10851 West 120th Avenue, Broomfield, CO 80021 (Jefferson County)

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