115 Inverness, a 55,706 square foot office building on 2.5 acres in the Inverness Business Park of Englewood, was sold for $ 9,362,500. The building was 85% occupied at the time of the sale and serves as the headquarters of local healthcare software developer, patientNOW, as well as publicly traded tenants Tetra Tech and Ricoh.
115 Inverness was purchased by Advanced Property Services which was represented by Sam Leger and Tim Finholm, of full-service commercial real estate brokerage firm Unique Properties, Inc., as exclusive agents. James Brady, Patrick Devereaux and Campbell Davis of CBRE represented the seller, Schnitzer West.
âThe Denver office market continues to attract investor interest despite the ongoing pandemic. Investors are starting to see the light at the end of the tunnel, âsaid Brady, senior vice president of CBRE Capital Markets in Denver.
The three story office building was originally built in 1982 and was recently renovated in 2019. The property has 142 parking spaces and is also within walking distance of the Dry Creek station of the line. light rail RTD.
According to a CBRE study, investment sales volume in the Denver metro area office market reached $ 571 million in the third quarter of 2020, bringing the cumulative total to $ 1.4 billion.