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Page 10 - April 5-18, 2017 COLORADO REAL ESTATE JOURNAL
Office
by Jill Jamieson-Nichols
AAA Colorado is revving
up for a move to significantly
larger space in Greenwood
Village.
The company recently paid
$11.8 million for Atrium I, a
136,592-square-foot building
at 6061 S. Willow Drive. It
will relocate its headquarters
to the building late this year,
occupying about two-thirds
of the space.
AAA Colorado’s current
building in Denver totals
63,335 sf.
“We have outgrown our
existing facility,” said J. Sky-
ler McKinley, AAA Colora-
do public relations director.
“We’ve had record member-
ship growth, and with that
has come record staff growth.
It was just time for us to find
a bigger home,” he said.
Atrium I was vacant at the
time of the sale. AAA will
seek a tenant/tenants for the
available space, growing into
that space over time.
While the additional space
was a big driver for AAA’s
move, the Atrium also offers
better commuting options
as well as visibility on Inter-
state 25. “This is a billboard
kind of building that’s vis-
ible off I-25,” McKinley said.
It’s within about a 10-minute
walk of the Arapahoe at Vil-
lage Center light-rail station.
AAA Colorado has 250
employees in Colorado, not
counting tow truck and fleet
drivers. It plans to begin tran-
sitioning into the building in
late fall. “We’re very excited
about the move,” McKinley
said.
Cody Sheesley of Colliers
International represented
the company in the acquisi-
tion. St. Paul Fire and Marine
Insurance Co., represented by
Cushman & Wakefield, was
the seller.
Brad Pech of Re/Max Com-
mercial Alliance has AAA
Colorado’s existing head-
quarters building at 4100 E.
Arkansas Ave. in Denver list-
ed for sale at $7.7 million.
Other News
■ A private, out-of-state
investor, 718 Maleta Lane
LLC, paid $1.93 million for an
8,463-square-foot office build-
ing at 718 Maleta Lane in
Castle Rock. CRMB LLC was
the seller.
The multitenant building
was approximately 84 per-
cent occupied by three dental
practices at the time of the
sale and has a single vacan-
cy of 1,300 sf, according to
John Witt of NavPoint Real
Estate Group, who represent-
ed the buyer with NavPoint’s
Matt Call. It is located a half-
mile east of Interstate 25, off
Founders Parkway.
“The property is well-locat-
ed with long-term medical
tenants and an opportunity
to increase returns by filling
the last vacancy,” said Witt.
The buyer acquired the build-
ing, which was built in 2004,
as part of a 1031 tax-deferred
exchange.
Marc Holmes of Elevation
Cos. represented the seller in
the transaction. ▲
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Cushman & Wakefield
Atrium I sold for $11.8 million
‘We have outgrown
our existing facility.
We’ve had record
membership growth,
and with that has
come record staff
growth. It was just
time for us to find a
bigger home.’
– J. Skyler McKinley
AAA Colorado