CBRE Arranges Sale of 65,000 SF, Fully Leased Office and Industrial Building in Southeast Metro Denver

CBRE announced the sale of 35 Inverness Drive East, an office and warehouse property within the Inverness Business Park in Englewood, Colorado, to a confidential buyer. The building is fully leased to Teledyne Technologies, a manufacturer of air quality monitoring instrumentation and software, which has occupied the property since 2004.

Patrick Devereaux, James Brady and Campbell Davis of CBRE represented the confidential seller.

The 65,000-sq.-ft. building sits on 4.4 acres. Built in 1980, the multi-use building has single-story warehouse space and two-story office space. The warehouse space includes a loading dock with five overhead rolling doors. The building also has a tenant cafeteria area and outdoor patio space.

“We saw immediate interest on this property, driven by its tenancy—fully leased to a single, publicly-traded company—and its excellent location with convenient highway and light rail access and numerous surrounding amenities. Additionally, the ability to assume the existing financing at a better-than-market rate made it compelling,” said Mr. Brady, first vice president, CBRE. 

35 Inverness Drive East is located one mile east of the County Line Road and I-25 interchange and northeast of the I-25 and E-470 interchange, providing access to Centennial Airport, Denver International Airport and the eastern suburbs of metro Denver. It is also one mile to the County Line light rail station with RTD Call-N-Ride Shuttle service. Approximately 6.5 million sq. ft. of restaurants and other retail are within two miles of the property, including Park Meadows Mall, Centennial Promenade, and the Colorado Athletic Club. 

The Southeast submarket led the Denver office market in leasing activity in the third quarter, with 561,000 sq. ft. transacted, according to CBRE research. The Southeast claimed 55% of office leasing activity, with much of the volume concentrated in lease renewals.