Independence, MO (PRWEB) November 02, 2012
Xceligent, Inc., a commercial real estate information services provider, has learned that the Metro Denver sale of Harlequin Plaza and 18 additional acres closed on October 18, 2012 for $ 26,550,000, according to Arapahoe County Records. The buyer, Unico Real Estate Investments, based in Seattle, executed a $ 25,000,000 note, with a due date in 2016. Mike Winn and Tim Richie of Cushman & Wakefield represented the seller.
Harlequin Plaza is located at 7600 East Orchard Avenue. The Greenwood Village property consists of two buildings totaling 327,907 square feet; Harlequin Plaza North contains 187,243 square feet while Harlequin Plaza South has 140,664 square feet, and was developed by the John Madden Company in 1981.
The sales price of $ 80.97 per square foot is way below replacement cost, said John V. Winslow, CRE and Xceligent Senior Sales Comp Manager.
According to Xceligent CDX records, Harlequin Plaza was 40% occupied at the time of sale. The site is adorned with first class office landscaping and amenities. According to a recent Unico written statement, this acquisition brings Unicos Denver portfolio to over 1.2 million square feet of owned and managed properties.
We are very pleased to continue to build our portfolio within the Denver market. With it comprising over 50 percent of Colorados total population, 62 percent of all jobs, and a burgeoning number of companies headquartering here, this continues to be an appealing market for us from an investment strategy, Jonas Sylvester, Unicos senior vice president of Investment and Development, also said in the statement.
Unico Properties LLC is a real estate investor and full-service operator, focused on office and multifamily assets in the Western United States. For nearly 60 years its investors and partners have relied on Unico for its local knowledge, institutional rigor, and boutique service, which consistently deliver results. Founded in 1953, Unico is headquartered in Seattle, Wash. Unico is a proven operating partner. The company is a leader in sustainable practices, reducing energy consumption by 18 percent per year across its 13 million-square-foot portfolio. Unico has earned LEED and LEED
