CBRE Completes Sale of One Belleview Station in Southeast Denver
29 3 2018
Newly Constructed Class AA Office Tower Developed by Prime West Serves as the Global Headquarters for Western Union
CBRE announced today that it completed the sale of One Belleview Station, a 318,057-square-foot transit-oriented Class AA office tower located at 7001 East Belleview Avenue in Denver. CBRE’s Mike Winn, Tim Richey, Chad Flynn, Jenny Knowlton and Charley Will represented the owner/developer, Prime West of Denver. The buyer, Ramrock Real Estate LLC of Dallas, purchased the building in a sale that closed March 28, 2018. Lincoln Property Company represented Ramrock in the acquisition and will be managing the property. The 100-percent leased office tower is anchored by Western Union.
“Offering an irreplaceable transit-oriented location with new, state-of-the-art construction and a Fortune 500 anchor tenant on a long-term lease, One Belleview Station is one of the most unique and desirable office assets in the Western U.S.,” said Charley Will, Senior Associate, CBRE Capital Markets, Institutional Properties. “Investor demand for properties of this caliber has never been stronger.”
Completed in 2017, One Belleview Station stands 15 stories overlooking Interstate 25 at the corner of East Belleview Avenue and South Quebec Street in the Denver Tech Center. Western Union, Colorado’s eighth-largest business by revenue, made headlines last summer when the company announced it was moving its global headquarters to One Belleview Station. Other tenants at the building include Eide Bailly LLP, Janiczek Wealth Management, Alacer Gold, TD Ameritrade and the offices of Prime West. The ground-floor retail space is home to Ruth’s Chris Steak House. Other on-site amenities at the LEED Gold-certified building include a gym, shower/lockers, conference facility and café.
Founded in 1981, Prime West is an award-winning commercial real estate development, management and investment company focused on Colorado’s Front Range. The company has developed more than 5.5 million square feet of commercial real estate and currently manages 2.2 million square feet, including office, retail and medical projects.
“The Prime West team is sincerely honored to be part of the first office building to be developed in Belleview Station, and excited to be able to help create this iconic landmark in SE Denver, from initial concept through to completion,” said Jim Neenan, President and CEO, Prime West Development, LLC.
One Belleview Station is a five-minute walk to the Belleview light rail station and is immediately adjacent to a growing transit-oriented development that currently includes 80,000 square feet of restaurants and retail and 680 apartment units. Upon completion, the 51-acre site is slated to offer a total 2.2 million square feet of office space, 300,000 square feet of retail, 1,800 residential units, one or two full-service hotels and more than five acres dedicated to plazas and open space.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.