NavPoint Real Estate Group Sells 29,140 SF Multi-Tenant Office Investment Asset in Centennial for $3,525,000
navpoint / April 14, 2020
Centennial, CO – NavPoint Real Estate Group is pleased to announce it has completed the sale of Arapahoe Plaza East II, a 29,140 SF Multi-Tenant Office Investment Asset located at 7955 E Arapahoe Court in Centennial, Colorado.
Built in 1981, Arapahoe Plaza East II is a three-story, multi-tenant, office building. The property offers both large and small suites to accommodate a variety of tenants. The property also features upgraded lobby finishes, ample parking, and excellent access to Interstate 25.
Matt Kulbe of NavPoint Real Estate Group alongside John Witt, Principal of Quiver Investments, represented the Seller. According to Matt Kulbe, “Amidst the impact from the COVID-19 pandemic, the Buyer is a long-term holder and recognized this asset met their investment goals. The Buyer took advantage of low interest rates to acquire a great asset with a strong tenant mix that had already collected 93% of the rent for April upon closing early in the month. With unprecedented lender and appraisal hurdles, the Buyer and Seller negotiated a very fair deal for both parties.
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