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Cherry Creek Place CHERRY CREEK PLACE RARE DENVER AREA VALUE-ADD AND RECEIVERSHIP SALE OPPORTUNITY 2 EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to present Cherry Creek Place KEY PROPERTY METRICS III (“Property”), a unique opportunity for investors to acquire a rare value-add office asset with tremendous lease-up potential in one of Denver’s fundamentally CHERRY CREEK PLACE III strongest submarkets. ADDRESS 3151 S. VAUGHN WAY Cherry Creek Place III is a 107,364 SF office property ideally positioned at the best CITY, STATE AURORA, CO location within the Aurora submarket. Situated at the interchange of I-225 and Parker Road, the Property sits at the crossroads of the Denver Tech Center (DTC), the high- YEAR BUILT 1981 growth residential areas of southeast suburban Denver, Denver International Airport RENTABLE AREA 107,364 SF (DIA), and the affluent Cherry Creek area. The Property has attributes found only at COLORADO TECHNICAL UNIVERSITY & Denver’s premier locations, such as direct access to light rail, a full-service hotel MAJOR TENANTS COLORADO PASSPORT AGENCY adjacent to the Property, and vehicular access to both a major interstate highway and heavily trafficked arterial roads. The Property’s location allows an investor to meet a NUMBER OF STORIES 6 desired employee demographic for most employers, while offering economical lease AVERAGE FLOOR PLATES 18,000 SF rates, thus creating significant demand for office space in the area. Cherry Creek Place III sits within the Cherry Creek Place office complex that has benefited greatly PARKING 173 SURFACE & 217 GARAGE (3.63/1,000) from this demand, with the neighboring buildings attracting major anchor tenants ACRES 3.25 such as ADT, TSYS, Verizon, and Avitus. Additionally, the Property exhibits fantastic OCCUPANCY 45.4% fundamentals with highly sought after, available large blocks of space, modernized elevators, and tenants with a long operating history at the Property. Cherry Creek Place offers value-add investors the opportunity to take advantage of a property that has been leasing constrained but has had major upgrades completed that will reduce potential capital expense exposure as an investor executes their business plan at the Property. CHERRY CREEK PLACE 3 EXECUTIVE SUMMARY Building Fundamentals Cherry Creek Place III is one of the most desirable assets in the Aurora market. Strategically designed and located, with institutional quality ownership and maintenance, the Property has so much to offer both tenants and investors. FLOORPLATES Large floorplates of approximately 18,000 SF provide a competitive advantage in attracting large users to the Property. Conversely, the floorplates are also flexible and have been demised into numerous configurations to accommodate smaller tenants. CAPITAL IMPROVEMENTS Significant capital has been invested at the Property, including elevator modernization and a compressor replacement in 2017. The elevator improvements provide a welcoming environment when entering the Property and enhance the tenant experience. These major capital improvements allow investors the opportunity to focus on leasing up the property to maximize returns. PROMINENT LOCATION Cherry Creek Place III is prominently located at the interchange of I-225 and Parker Road, two of the most convenient and utilized thoroughfares in the state. This provides excellent signage opportunities to tenants as well as a distinct identity for the building with fantastic exposure to the 243,000 vehicles that pass daily. Light rail access via pedestrian path also provides terrific access. In addition, because the Property is adjacent to Cherry Creek State Park, tenants enjoy unobstructed views of the mountains and Downtown Denver from the upper floors. This 4,250 acre park is an added benefit for tenants as they are able to enjoy 78-miles of trails, fishing, horseback riding, and many other activities synonymous with life in Colorado. CHERRY CREEK PLACE EXECUTIVE SUMMARY 4 H-LINE LONGMONT LONGMONT R-LINE ERIE NIWOT BOULDER ERIE NIWOT LAFAYETTE BOULDER HIGHWAY LAFAYETTE Local LOUISVILLE ACCESS Service LOUISVILLE Local BRIGHTON Service BRIGHTON I-25 225 I-70 SUPERIOR BROOMFIELD SUPERIOR BROOMFIELD DRIVE TIME N NORTHGLENN WESTMINSTER THORNTON N NORTHGLENN DOWNTOWN : 15 MINUTES WESTMINSTER FEDERAL THORNTON CHERRY HILLS : 12 MINUTES HEIGHTS FEDERAL CENTENNIAL : 7 MINUTES HEIGHTS B COMMERCE ARVADA CITY A B COMMERCE G ARVADA CITY A G UNION WHEAT RIDGE STATION rtd-denver.com UNION L WHEAT RIDGE STATION GOLDEN DENVER rtd-denver.com Current Lines C Line L AURORA GOLDEN DENVER D Line Current Lines E Line F Line C Line H Line AURORA D Line W Line E Line W Free MallRide F Line Free MetroRide H Line LAKEWOOD W Line GLENDALE W Free MallRide Future Lines Free MetroRide A Line - East Rail Line - 2016 LAKEWOOD H B Line - Northwest Rail Line - 2016 GLENDALECHERRY R G Line - Gold Line - 2016 Future Lines ENGLEWOOD H Line Extension - 2016 CREEK CHERRY A Line - East Rail Line - 2016 L Line - Central Rail Ext / Loop CHERRY HILLS CREEK PLACE SHERIDAN N Line - North Metro Rail Line - 2018 H B Line - Northwest Rail Line - 2016 VILLAGE PLACE R G Line - Gold Line - 2016 R Line - I-225 Rail Line - 2016 ENGLEWOOD GREENWOOD Flatiron Flyer (Bus Rapid Transit) - 2016 H Line Extension - 2016 VILLAGE L Line - Central Rail Ext / Loop Future Construction CHERRY HILLS SHERIDAN N Line - North Metro Rail Line - 2018 R CENTENNIAL VILLAGE LITTLETON C R Line - I-225 Rail Line - 2016 GREENWOOD Flatiron Flyer (Bus Rapid Transit) - 2016 D E F Station VILLAGE Union Station Future Construction LONE TREE R CENTENNIAL PARKER LITTLETON C Station HIGHLANDS D E F RANCH Union Station LONE TREE PARKER HIGHLANDS RANCH o 70 70 S ando w n R oad East 40th Avenu e East 40 th A v 70 e P n eña Bouleva u rd e d East 38th Avenue a o R 225 r e w o T 70 Martin Luther King J Boulevard Bluff Lake E a Nature s Center t 3 2nd Par kway na Wa 5 EXECUTIVE SUMMARY North Park H ava y 36 HIll 70 d a M 1 o R o r n e a c w o o T P East Montview Boulevard a r t South Park k e w e a r t 36 Hill y S Development Pipeline a n 70 a v a H Aurora and the surrounding area is currently undergoing a transformation, East Colfax Avenue East Colfax Avenue t e e r 225 t 2 6 S A a i i 13 r r p o o e r C with significant development activity that continues to redefine the area. As t P h B Q a o u m u e b l b e e v e r a c s r S d Ro t r the population and business presence in Aurora continues to grow year over e AURORA a e d t 8 year, developers have taken notice and are taking advantage. There are overEa st 6th Avenue Parkway East 6th Avenue 30 30 30 30 Ea 4 st 270,000 SF of retail and 5,810 apartment units either recently completed, under 6 th A Simons East 1 st Avenue ve n Airport construction, or planned in the surrounding area to Cherry Creek Place III. These ue 30 Buckley East Alam eda Avenue East Alam eda Avenue new projects make the Property even more attractive and convenient to users, 14 12 Air Force 5 Base East 83 Fairmount 30 Alam eda Parkway Ea Cemetery st Al am e 7 da GLENDALE Pa MIXED USE DEVELOPMENTS rk w ay PROPERTY NAME STATUS BREAKDOWN DEVELOPER 83 1 225 1 Stanley Marketplace Completed 140,000 SF of Retail, Office, and Event Space Westfield East Mississippi Avenue East Mi ssissipp i Avenue S o t u e t e h 2 The Forum at Fitzsimons Completed (Phase I) 397 Units of Multi, 29,000 SF Retail Catalina Development r t B S u a c i 6 k r l o e d y e a P o R 500 Units of Multi, 100,000 SF Retail, 250,000 R o So h t a s u u r 3 Regatta Plaza Under Construction Koelbel d t o h Que 30 e 83 S SF Commercial b m b a e h c C W ay h t 207 Units of Multi, 86 Townhomes, 19,700 SF Dillon Place Development Group u o 4 Fan Fare Planned S Retail/Commercial, 14,000 SF Mixed Use / City of Aurora 25 y e a u en w l Av k E l East Evans Ave nue ast Jewe ar P 5 Parkside @ City Centre Planned 264 Units of Multi, 25,000 SF Retail Northstar Commercial Partners o nac f o East Ilif Avenue M East I liff Av enue h 65,000 SF Retail, 100 Units Multi, 60,000 SF t 83 u o 6 The Citadel on Colfax Planned Northstar Commercial Partners S 9 Office, 150 Row Homes, Hotel 5 7 Metro Center Planned 120 Units of Multi, Office & Retail Brickman Partners 30 225 d a d o d a R a o r o R e R y w s 25 e r l o 11 k e T c b 3 h u t m B 83 u a o h h t MULTIFAMILY DEVELOPMENTS S C u o h t CHERRYS 83 u o S CREEK 10 PROPERTY NAME STATUS UNITS DEVELOPER 225 285 30 East Ha mpd en Avenue 1 Willow Point Completed 117 Alpert Development PLACE 2 Helios Completed 258 Hines 3 Pearl DTC Completed 408 LBA Realty Dam Road 25 So u 225 t h 4 The Den Completed 325 Holland R e se rvo ir Ro 5 Outlook DTC Completed 242 Evergreen Development ad 16 Cherry 6 Iliff Station 1 Under Construction 424 SteelWave Creek Reservoir 7 Highline Pointe Under Construction 190 Delwest Homes 225 83 8 Broadstone Lowry Under Construction 300 Alliance Residential Quincy Reservoir 9 DTC Gateway Under Construction 140 Shea Properties East Sm ok D y Hi T ll R 10 Iliff Station 2 Planned 320 Grand Peaks C oad 15 3 B 7 o u 11 Outlook Cathay Planned 230 Evergreen Development l fi e v st Ch ue a Mixed Use Developments Ea enango Aven r CHERRY CREEK 12 Sterling Ridge Townhomes Planned 75 Narmata Builders 4 2 d Apartments Next to Delaney 88 STATE PARK 13 Planned 116 Gardner Capital Multifamily Developments Farm 14 MGL Fitzsimons Planned 200 MGL/Solvera Advisors 25 d a 15 Lowry Vista Planned 391 The Hanover Company o R 83 r e 16 DTC Union Planned 250 Richman Ascension Development Group w o T The Preserve h t u o S East Orchard Ro ad t e e r t Eas S t Sm c o ad Palos e ky H ll Ro b d i e a u Verdes o Q R h 25 y t e Saddle l u k o c S u Rock Ranches B Cherry h t Heritage u Park o S Place 83 East A 88 Ara paho e Road 88 Arapahoe Road rapahoe R oad d var t e e l FOXFIELD e u r t S Willow c o Bo a d Springs a m r o t Open o P Space h t u o uth Colo 25 S o S t e e r t S East D ry Creek Road y l l o H CENTENNIAL t h t e u e 470 r o t S S e t 83 i m Centennial e s o Airport Y uth o S Travois 470 East County Li ne R oad 470 25 70 6 EXECUTIVE SUMMARY Strategic Location Based Upon Demographics Cherry Creek Place III’s unique location affords it an advantage when leasing space.
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