Newmark further reports that Denver’s economy continues to consistently outperform the nation in terms of job and population growth, home price appreciation, state GDP and personal income levels. Newmark is ranked second in Denver investment sales, based on transaction volume, as reported by the Denver Business Journal, mid-year 2017. We expect to see a number of new investment offerings along the corridor in early 2018,” remarked Jugl. “The US 36 Corridor has undergone a dramatic transformation with regards to commuting patterns and population distribution and contains the highest concentration of newer vintage office assets. investment sales, and partners with Denver-based Vice Chairman, Western Region Capital Markets John Jugl, who joined Newmark Capital Markets just over one year ago to lead Capital Markets in Denver. In addition, the property includes an adjacent 1.07 acre development parcel that can be used to provide additional surface parking or retail development,” said Shannon, who leads Newmark’s Western U.S. “The Gogo Building represented a fantastic opportunity to acquire the newest, highest-quality office asset in Northwest Denver at below replacement cost. The Northwest Boulder Corridor is one of the top technology markets in the Western region. According to Newmark’s 4Q2017 Office Market report, the Denver office market has enjoyed an impressive expansion run lasting 32 consecutive quarters. The Gogo Building is strategically located in the heart of the Denver-Boulder Corridor within the technology-centric Interlocken Advanced Technology Business Park. The property is certified LEED Platinum with outstanding sustainable design elements including hyper-efficient floor plates, solar panels, 10’ floor to ceiling windows, 18 vehicle charging stations and a 2,500-square-foot fitness center. It is the first phase of Hines’ EOS at Interlocken office campus development. The property, known as the Gogo Building at Interlocken, was constructed in 2012 by Hines and designed by Forum Architects. Leading up to the sale, David Hart successfully leased the asset to 100 percent occupancy on behalf of Hines Holdings, Inc. in the $47.1 million transaction to Invesco Advisers, Inc. President, West Coast Capital Markets, Kevin Shannon, Executive Managing Directors Ken White and David Hart, and Managing Director Laura Stumm of Newmark Capital Markets represented Hines Holdings, Inc. The building is anchored by Gogo, the leading inflight internet and entertainment provider, who occupies 65 percent of the building. The newly-constructed building is 100 percent occupied. Newmark Capital Markets has announced the sale of a 186,231-square-foot, four-story office building located at 105 Edgeview Drive in Broomfield, CO.
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