Sale of 6,000 SF Owner/User Office Building in Centennial, CO
Pegasus Realty Corp. is pleased to announce the sale of a 6,000 sq. ft. office building located at 3949 E. Arapahoe Rd. in the seven building, 55,000 sq. ft. Strawberry Hill Office Park Office Complex in Centennial. The two story office building sold for $785,000 in December 2007 to an entity controlled by a local dentist who intends to renovate and occupy a portion of the building for his dental practice and lease the balance. Pegasus Realty Corp. represented the Seller in this transaction and the Buyer was represented by Seth Rollert of Rollert Avery Companies, Inc.
Strawberry Hill Office Park is located at 3929 - 3989 E. Arapahoe Rd. near the new Streets at Southglenn Mall project Arapahoe Road and University) in Centennial, Colorado.
Sold - 3949 E. Arapahoe Rd.
Centennial, CO 80122
"The Seller, Strawberry Hill L.P., positioned the property to transition from a leased investment property to sell the individual free-standing buildings to owner-user professionals", according to Jeffrey Garelick, Vice President of Centennial based Pegasus Realty Corp. The office park is comprised of six free-standing office buildings each containing approximately 6,000 sq. ft. and a larger 21,000 sq. ft. office building. "In addition to the completed sale, activity and interest in the property is strong", reported Garelick. Particular interest has been seen in a fully vacant 5,798 sq. ft. former HQ building at 3959 E. Arapahoe Rd. as well as in an adjacent mostly leased, 6,051 sq. ft. building though up to 4,500 sq. ft. could be made available for an owner/user.
For Sale - 3959 E. Arapahoe Rd.
The 3959 E. Arapahoe Road building features 12 private offices, conference room, open work area, four restrooms, kichen/break area, and basement for storage. In excellent condition, the interior was extensively remodeled in 2004. Priced at $898,000, it is a hard to find, small, free standing property in an attractive, well landscaped, covenant controlled business park. Ready for immediate occupancy, a purchaser can occupy part of the 5,798 square foot building and lease out the remainder while allowing for expansion needs in the future.
All of the buildings at Strawberry Hill Office Park underwent an extensive exterior renovation, designed by OZ Architecture, during the summer of 2007 including new roofs, painting, and resurfacing of the parking area as well as common area interior renovations. The buildings provide an excellent opportunity for a business owner who desires to own his/her building at a reasonable price, particularly when compared to the high cost of new construction. The project zoning allows for a broad range of office uses including medical and dental. Located in the south-east suburban Denver market, the property is convenient to the DTC, Greenwood Village, Cherry Hills, and Highlands Ranch with good access to I-25 and C-470.
The seller, Strawberry Hill L.P., via affiliated entities is involved in the development of 31 acres of commercial land near the Centennial airport and owns a portfolio of leased commercial buildings ranging from 26,000 to 70,000 square feet. Pegasus Realty Corp., also an affiliate of the seller, is the leasing, sales and management company for all of the properties.
Pegasus Realty Corp.
3989 E. Arapahoe Rd., Suite 300
Contact: Jeffrey Garelick
Phone: 303-721-1818
e-mail:jeff@pegasusrealtycorp.com
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