DENVER, August 5, 2024 - JLL Capital Markets announced today that it has completed the $18 million sale of Rampart Center, a two-building office/flex property totaling 100,455-square feet in Englewood, Colorado.
JLL represented the seller, Libitzky Property Companies, in the sale of the property to River Rise Capital.
Rampart Center comprises two buildings at 7173 and 7245 South Havana St. in Denver's southeast suburban submarket. This area is home to the largest concentration of Fortune 500 companies in the state and attracts a highly educated, affluent resident population. The property is easily accessed via Interstate 25 and has a robust amenity base of high-end dining, shopping and entertainment, nearby.
The single-story buildings were originally built in 1999 and have gone through recent improvements, including adding a fitness center. Rampart Center is 94% leased to five tenants in a variety of industries, including GSA, healthcare, engineering and co-working.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Larry Thiel and Senior Director Sean Whitney.
"Rampart Center has had incredible leasing momentum and occupancy that outperforms the Denver metro," Thiel said. "We had a great amount of investor interest in the property given the quality of the asset and the surrounding submarket."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Libitzky Property Companies specializes in the acquisition and operation of high-quality commercial projects. Its portfolio is comprised of office, industrial, flex, life science and retail properties. Libitzky owns and operates over 30 assets totalling over eight million square feet in 10 states.
River Rise Capital is a commercial real estate investment firm based in Denver. For more information, please visit: riverrise.com.
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Jones Lang LaSalle Inc. published this content on 05 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2024 19:21:30 UTC.
