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14001 E Iliff Avenue - The Forum, Aurora, CO

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14001 E Iliff Avenue - The Forum

NEC E Iliff Ave & S Abilene St
Aurora, CO 80014-1405 - Aurora Submarket

(718.8 KB)

Property Type:Office Sub Type:- Status:Existing Year Built:1981
Stories:7 Typical Floor:24,946 SF Building Size:174,622 SF
For Sale Price:$16,000,000 Price/SF:$91.63
Cap Rate:-
Parking:Free Surface spaces are available; Ratio of 5.4/1,000 SF Amenities:Conferencing Facility, Food Service, On Site Management, Property Manager on Site, Restaurant, Security System, Signage


Panoramic views of the Rocky Mountains, Downtown Denver, and the Denver Tech Center, direct access to I-225 at Iliff, on-site deli, corner lot, security system, multiple hotels in immediate vicinity, common executive conference room, prominent building signage available.

Sale Notes:
EXCELLENT LOCATION– The Forum is located directly across the street from the RTD-FastTrack’s Iliff Station which opened in early 2016. Walkable access to light rail is a focal point regarding corporate occupancy decisions in our ever changing transportation community. Light Rail is one of the most effi cient ways of traveling in North America. It is convenient, inexpensive and most importantly environmentally friendly.

VALUE-ADD – The Forum is currently 76% occupied with approximately 39,000 square feet of vacant space. This vacancy allows Investors the opportunity to grow NOI and create value through immediate lease-up, while enjoying existing cash-fl ow. Current in place rents average $17.52 PSF which is slightly below the current market average of $20.00 PSF for comparable B-Class Buildings. Additional upside exists as existing tenants renew at current market rates.

SIGNIFICANT CAPITAL IMPROVEMENTS- Current ownership has invested approximately $1,557,000 in recent capital improvements. Improvements include; Elevator Modernization, HVAC Upgrades, Updated Lobby, Renovated Deli, LED Lighting, Fire Sprinkler Retrofi t, Landscaping, and Parking Lot. These recent improvements to the building will substantially limit future capital requirements.

COST EFFECTIVE ALTERNATIVE – Much like the rest of the metro area, the southeast offi ce market continues to grow. With lease rates averaging $30.38 Downtown and $25.96 in the Tech Center, the Forum is a great low cost alternative as it’s less than 10 minutes from DTC and 30 minutes from Downtown.

HIGHLY VISIBLE – The Forum is located immediately off of Interstate 225 at the Iliff Avenue Exit (Exit 5). The property is Seven (7) stories tall and off ers tenants excellent signage and visibility as over 136,000
vehicles travel Interstate 225 daily.

STRONG OFFICE MARKET– The Denver office market continued to see great growth in 2017 with a positive net absorption of 1.2 Million square feet over the past 12 month. Rents for this period increased
across the board as the metro area average was raised about $1 PSF over the past 12 months.

Ten-X, LLC
Jason Katz
(949) 859-2777

  
Unique Properties, Inc.
Justin Herman
(720) 881-6343

Marc S Lippitt
(303) 321-5888 x201




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