Page 12 —
COLORADO REAL ESTATE JOURNAL
— May 18-May 31, 2016
Office
by Jill Jamieson-Nichols
A Hawaiian investor has
acquired 61 Inverness Drive
East, an 87,198-square-foot
office building in Inverness
Business Park.
United Properties sold the
three-story building to 61
Inverness Associates, led by
a Honolulu investor, for $10.9
million, or $125 per sf. Jeppe-
sen, a subsidiary of The Boeing
Co., is the largest of seven ten-
ants, occupying approximately
45 percent of the space.
There were multiple offers for
the property, driven by capi-
tal interested
in
owning
an asset with
deep cred-
it
tenancy,
according to
JLL Executive
Vice Presi-
dent Patrick
Devereaux.
U n i t e d
P r o p e r -
ties acquired the building for
$61.53 per sf in 2013. It updat-
ed the property, from the com-
mon areas to building systems,
renewed leases and increased
occupancy from 61 to 98 percent.
“There are virtually no
upgrades needed to the asset.
United Properties did a Class
A job repositioning this asset,”
said Devereaux.
“The building offers one of
the highest parking ratios for
a multitenant building within
the Inverness Business Park
with 4:1,000. That’s why it was
appealing to Jeppesen, and it’s
right next door to Jeppesen’s
campus, which they own,” he
said, noting 61 Inverness Drive
East provides the owner with
secure long-term cash flow.
by Jill Jamieson-Nichols
A top 100 law firm that has
been expanding its offices across
the country will rise to the top
floor of a 17-story office tower
near Denver Union Station.
Akerman LLP leased Reilly
Pozner’s 23,762 square feet of
high-end office space at 1900
Sixteenth Street. It will relocate
when its 14,658-sf lease at 1400
Wewatta St. expires at the end
of the year.
“This move represents our
commitment to the Denver mar-
ket, and we are proud to be
surrounded by an urban envi-
ronment that reflects Akerman’s
entrepreneurial spirit,” said Jus-
tin Balser, managing partner in
the firm’s Denver office.
Akerman was negotiating
with a couple of landlords in
the Union Station area when
the opportunity arose to lease
law firm Reilly Pozner’s existing
space, according to Chad Rupp,
managing director of Franklin
Street, who helped broker the
deal. The space already has very
nice, high-end build-out, which
will provide for a timely and
cost-effective relocation. “Obvi-
ously, it’s a great building – top
floor, beautiful space,” Rupp
said.
“The revitalization of Union
Station is redefining Denver’s
city center and the move of a
national law firm like Akerman
underscores the area’s signifi-
cance for tech companies and
other entrepreneurial-minded
businesses. The Franklin Street
team worked tirelessly to secure
the competitive lease for Aker-
man. Through extensive nego-
tiations, we were able to achieve
the firm’s priorities and still ful-
fill the needs of the landlord and
existing tenant,” Rupp said.
The building is LEED Gold
certified, which also was impor-
tant to Akerman’s sustainability
initiative focused on reducing
environmental impact, improv-
ing efficiencies and providing
healthyworkplaces that enhance
the experience of its employees,
clients and communities.
The space will accommodate
25 lawyers and patent profes-
sionals.
“We are grateful for the Frank-
lin Street team’s tremendous
work to secure our new office.
Jeppesen occupies approximately 45 percent of the space at 61
Inverness Drive East.
Akerman will occupy the top floor of 1900 Sixteenth near Denver Union
Station.
Patrick Devereaux
