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San Francisco-based Graham Street Realty added to its Denver portfolio with a pair of Englewood office buildings. Affiliate company Paramount Property Company will take over management of the building.

Pyramid Pointe, a 120,279-square-foot building at 9777 Pyramid Court in Meridian International Business Center, and 384 Inverness, a 51,523-square-foot building in Inverness Business Park, sold for $19.4 million. Westcore Properties and American Realty Advisors sold the properties in a deal handled by Newmark Knight Frank Executive Managing Directors Riki Hashimoto and Dan Grooters.

“We are excited about these new acquisitions, which are well-located relative to the new locus of executive and workforce housing in the southeast corridor, and we look forward to the opportunity to lease near-term rollover in a strong market,” said David Messing, Graham Street Realty co-managing principal.

Read the full article at www.crej.comRead more coverage of this transaction at Bisnow.com.

 

Rent checks at two Arapahoe County office complexes are headed to a different coast next month.

Graham Street Realty, an office real estate affiliate of San Francisco-based Hamilton Zanze, bought 350,000 square feet in Littleton and Aurora office space this month for $34 million. The deal included the Corporate 25 office complex and the Aurora Corporate Plaza.

Aurora Corporate Plaza is the larger of the two office complexes, with three buildings totaling 219,000 square feet. It was about 80 percent leased at the time of sale. Janus and ADP are the two largest tenants on the office park’s rent rolls. The property sits at the corner of Peoria Street and Iliff Avenue.

Corporate 25 totals about 135,000 square feet. Oppenheimer is the biggest tenant in the complex, which sits at 7200 S. Alton Way, just north of Interstate 25 and Dry Creek Road.

 

Read the full article at BusinessDen.com

 

Graham Street Realty has acquired The Promenade in Berkeley, CA from Seagate Partners for just over $13.4 million. Set in the heart of downtown, The Promenade is a three-story 43,033 square foot, multi-tenant office building on a ±0.42 acre parcel located at 1936 University Avenue. There is also structured parking that includes 120 parking spaces and is elevator and valet serviced. Built in 1992, the building consists largely of smaller users and was nearly 90% leased to approximately 20 tenants at the time of sale. The largest tenant in the building (and only above 5,000 square feet) is UC Berkeley, which is also a key driver of the local market. Michael Speers with Cushman & Wakefield’s San Francisco office represented the seller in the transaction.

“The Promenade is a fantastic asset positioned in one of the most vibrant, unique and growing markets in the Bay Area,” said Mr. Speers. “Exemplifying its stability, desirability and great pride of ownership, more than half of the existing tenant base has occupied the building for at least 10 to 20 years.”

Read more at TheRegistrySF.com

 

Latham Square, the long-dormant plaza at the intersection of Broadway and Telegraph Ave. in downtown Oakland, is back open after three years of construction.

Decked with flower beds, trees, a storm water drain system and a century-old fountain that spouts water for the first time in 75 years, the triangular piece of land is four times its original size.

Mayor Libby Schaaf touted the project as a public investment that enhances other improvements to the neighborhood, among them the restoration of Latham Square building and the former Roos Brothers department store at 1500 Broadway.

The new square is part of an ongoing beautification effort to draw more businesses and foot traffic downtown. Uber’s new headquarters will open just blocks away in 2017.

Read more at SFGate.com