2530-2550 S Parker Rd, Aurora, CO 80014

Description

"Matrix Group sold these two buildings to the largest tenant in the buildings, Kaiser Permanente, who owns the third building on the property.
The property was 97% leased at the time of sale.
During the ownership period, ownership only had to spend ___ than have the competition of tenant finish allowance.
Kaiser accepted the following terms for the sale:
1) Original roofs from 1984
2) Original HVAC from 1984
3) Waved rights to a $720,000 tenant finish allowance
4) Accepted that a 38,000 square foot tenant had given notice that they would be vacating at the end of their lease term.
Matrix Group successfully completed a 1031 tax exchange with the proceeds of this sale. The exchange was for a 230,000 square foot multitenant industrial park with an average tenant size of 2,700 square feet."

Details

Cost PSF
$71.14
Acquisition Price
$14,000,000
Total Cost
$15,000,000
Acquisition Date
July, 2010
Sale Price
$25,320,000
Ave. Annual Return
39%
Total Project Size
210,838
Add. Capital Costs
$1,000,000
Sale Date
Dec, 2017
Status
Sold
Sale Price / SF
$120.09