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Penn Plaza is an office condominium complex in Adams County. Our address is 12021 Pennsylvania Street, Thornton, CO 80241. More information at http://www.PennPlazaOA.com
Very clean four (4) tenant retail property. There are two (2) business' that can be purchased along with the property. The Carwash and Laundromat can be purchased with the property for a total cost of $2,500,000. Or the property and the Liquor Store and be purchased at $2,800,000.
The subject investment is a seven story Office Data building located at 12121 Grant Street in Thornton, Colorado, a northern suburb of Denver. Roughly forty-four percent of the building is currently occupied by Avaya, a privately held global provider of business communications and collaboration systems. Avaya and the current owner will have invested roughly $20 million in tenant improvements into the building prior to rent commencement in July of 2015. This is the rare opportunity for investors to acquire a large block opportunity in the Northwest Denver market. Avaya leases roughly 117,701 square feet of which is approximately 50% Data and 50% Office space, occupying part the basement, first floor, second floor, and third floor of the property. The base term of the lease is 127 months, which is accompanied by two, five-year tenant renewal options. The tenant is responsible for its proportionate share of all operating expenses including the operation, repair, and maintenance of the property.