Colorado Real Estate Journal - April 5, 2017
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. Skyler McKinley, AAA Colorado public relations director. “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,” 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 Interstate 25. “This is a billboard kind of building that’s visible off I-25,” McKinley said. It’s within about a 10-minute walk of the Arapahoe at Village Center light-rail station. AAA Colorado has 250 employees in Colorado, not counting tow truck and fleet drivers. It plans to begin transitioning 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 acquisition. St. Paul Fire and Marine Insurance Co., represented by Cushman & Wakefield, was the seller. Brad Pech of Re/Max Commercial Alliance has AAA Colorado’s existing headquarters building at 4100 E. Arkansas Ave. in Denver listed 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 building at 718 Maleta Lane in Castle Rock. CRMB LLC was the seller. The multitenant building was approximately 84 percent occupied by three dental practices at the time of the sale and has a single vacancy of 1,300 sf, according to John Witt of NavPoint Real Estate Group, who represented the buyer with NavPoint’s Matt Call. It is located a half mile east of Interstate 25, off Founders Parkway. “The property is well-located with long-term medical tenants and an opportunity to increase returns by filling the last vacancy,” said Witt. The buyer acquired the building, which was built in 2004, as part of a 1031 tax-deferred exchange. Marc Holmes of Elevation Cos. represented the seller in the transaction.