SANTA ANA, CA -- Louis Rogers, President of Triple Net Properties, LLC, announced today the acquisition of 633 17th Street, on behalf of tenant in common investors.
633 17th Street is a 32-story, 552,988 square foot, Class A office tower located in Denver, Colorado. The property provides striking mountain views from its upper floors and appealing cityscapes from all other floors. The property was originally completed in 1974 and in 1989 the office tower received extensive common area and elevator cab renovation, enhancing the overall appearance of the building. Additionally, the tenant areas have been substantially renovated within the last several years.
The property is approximately 88% leased to 21 tenants and major tenants include; Colorado Department of Labor and Employment, Sherman and Howard LLC, and Colorado Department of Personnel and Administration.
The property was purchased from Prudential Insurance Company of America, which was represented by Mary Sullivan of CB Richard Ellis. Brendan Considine of Triple Net Properties represented the tenant in common buyers. Financing was provided by La Salle National Bank and was arranged by Eric Tupler of LJ Melody.
About Triple Net Properties
Triple Net Properties, LLC offers a diverse line of investment products as well as a full-range of services including asset and property management, brokerage, leasing, analysis and consultation. Our investors, tenants and industry partners have come to trust Triple Net's company-wide standard of outstanding service and integrity.
>From our home office in Southern California and numerous regional offices, Triple Net Properties manages a growing portfolio of over 25 million square feet of commercial properties and 1.8 million square feet of multi-family properties with a combined market value of over $3.3 billion as of November 30, 2005. In addition, Triple Net Properties Realty, Inc. is one of only 500 firms nationwide that have been awarded the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management (IREM). Triple Net's size and flexibility also allow us to seize opportunities that our larger, institutional competitors miss. What's more, our creative, innovative approach to real estate finds value in all sizes and types of properties, allowing us to provide products and services to meet every investment need.
For more information about Triple Net Properties, please call 1.877.888.7348 or visit our website at www.1031NNN.com.
Source: Triple Net Properties, LLC
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| Notes:
CONTACT: Louis Rogers, President, +1-877-888-7348, lrogers@1031NNN.com,
or Media, Jill Swartz, ext. 251, jswartz@1031nnn.com, both of Triple Net
Properties, LLC, +1-714-667-8252
Web site: http://www.1031nnn.com/
About This Release
If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not TCI are solely responsible for the accuracy of the content.
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