DENVER – Transwestern’s Denver Capital Markets team today announces it has closed the sale of Waterpark II and III, two Class A office properties at 2350 – 2550 S. Parker Road in Aurora, Colorado. Transwestern Managing Directors Brad Cohen and Larry Thiel advised Matrix Group Inc., a Colorado-based investor, on the sale of the two properties totaling 210,848 square feet. Kaiser Permanente, which owns Waterpark I, acquired the remaining buildings for an undisclosed price.
The two properties, built in 1982 and 1984, respectively, are 97.2 percent occupied with 60 percent of the space leased by Kaiser Permanente. Matrix Group Inc. purchased the two buildings in 2010 for $14 million. The sale of these two properties gives Kaiser Permanente full ownership of the Waterpark Campus.
“It was a pleasure to work with Matrix Group on Waterpark II and III as an exclusive advisor. Several investors expressed interest in the properties, but Kaiser Permanente ultimately exercised its right of first offer to purchase,” said Cohen.
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