November 1, 2019
Schnitzer West LLC and partner Investcorp sold Centerpoint I & II, a two-building, 374,020-square-foot office complex on Denver’s south side. The partners sold the asset, situated on 3.6 acres at Colorado Boulevard and Interstate 25, to TerraCap Management for $77.5 million.
The transaction was brokered by Jenny Knowlton, Tim Richey, Mike Winn, Charley Will and Chad Flynn of CBRE, with market leasing support from JLL.
During its hold, Schnitzer West and Investcorp made several upgrades, including lobby renovations to both buildings, adding flexible common tenant space and modernizing the elevators. The campus also underwent an upgrade.
“The Denver market is thriving; the acquisition of Centerpoint I & II demonstrates the strong economic trends present in the region and reinforces Schnitzer West’s commitment to the area,” said Schnitzer West’s Doug Zabel.
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