175,000-SF Office Building Will Be Home to Biotech, Medical and Healthcare Tenants
September 26, 2023
DENVER –Transwestern Real Estate Services announces that it has been awarded the property management assignment of Colorado Health & Tech Centers’ location in Greenwood Village, Colorado, a 175,000-square-foot office building located at 5800 S. Quebec St. The Transwestern team, comprised of Vice President Rene Wineland, Senior Portfolio Manager Tina Richards, Assistant Property Manager Phyllis Felix and Lead Engineer John Merrick, will provide innovative Asset Services activities for the building.
Transwestern was hired for the assignment by Colorado Health & Tech Centers (CHTC), which purchased the Class A office building through an affiliate, AAAD Enterprises LLC, in June 2023 for $5 million. The currently vacant building has been rebranded as CHTC-Greenwood Village (CHTC-GWV) and is being marketed for users of biotech lab, tech and biotech manufacturing, medical, health or veterinary treatment office space.
“CHTC-Greenwood Village is a perfect match for our strategy of providing build-to-suit workspaces for innovators in the medical, biotech, healthcare and tech space,” said Dr. Afshin Safavi, Founder and CEO of CHTC. “We look forward to working with our tenants to create an environment in which their businesses can flourish.”
The four-story building was built in 1980 and fully renovated in 1998. CHTC plans for additional renovations and customized build-out opportunities. CHTC is within walking distance of Denver’s Light Rail Orchard Station and offers easy access to Interstates 25 and 225. Nearby amenities include restaurants and shopping.
“CHTC has an incredible vision for this property,” said Richards. “Denver has a growing base of life sciences, health and tech companies, and the Greenwood Village location will help meet the demand for office space. Transwestern has deep experience working with healthcare-related properties, and our team has years of experience with this building, which will help create a positive experience for CHTC’s tenants.”
According to research from Transwestern, as of the close of the second quarter of 2023, the Greenwood Village submarket has an inventory of 9.4 million square feet of office space with a vacancy rate of 22.9%.
About Colorado Health & Tech Centers
Colorado Health & Tech Centers is a leading developer and manager of office and laboratory space in Colorado. The company is developing and will manage over 1 million square feet of client workspaces located from Colorado Springs to Ft. Collins. CHTC is committed to providing innovative workspace solutions to its clients, and its mission is “to become Colorado’s most versatile, agile, and capable developer of work environments designed to enable companies to attract, develop and retain their industry’s best and brightest talent.” Learn more at www.coloradohtc.com/locations/greenwood-village/.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Five dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
Media Contact:
Dan Foley
508.272.0017
dan.foley@transwestern.com
twmediarelations@transwestern.com
