Greenwood Village Buildings Sold

The Denver Business Journal

DENVER, CO – Crown West Realty, L.L.C. has purchased its third set of Denver-area office buildings since entering the market in 2005.

The Spokane, Wash., company said Friday it has purchased Orchard Plaza I, II, III and IV in Greenwood Village for $20.5 million. The seller was Tyler Pacific IV L.L.C.

The four single-story buildings total 157,540 square feet on 12 acres east of Interstate 25. Crown West Realty said it intends to renovate and upgrade Orchard Plaza, which was 78 percent occupied at closing.

Crown West Realty said it will open a Denver office in March and begin looking for other properties to buy in Colorado.

The company in 2005 paid $12 million for Corporate 25, three inter-connected buildings in Centennial with a combined 132,800 square feet.

Last year Crown West Realty bought Golden Ridge I and II, two single-story office buildings in Golden, for $11.35 million. The buildings have a combined 100,800 square feet of space.