Menashe Properties, Inc. Announces Acquisition of Stanford Place III
Prime Class "A" Office Building in Denver, CO
PORTLAND, Ore., Aug. 5, 2022 /PRNewswire/ -- Menashe Properties, Inc. announced today that it has acquired Stanford Place III, consisting of a Class "A" office building totaling approximately 370,000 square feet that expands over a 6.5-acre property offering ample surface and covered parking. The building benefits from a number of location highlights, including close proximity to I-25, I-225, and the Belleview Light Rail Station, which provide an efficient location in the heart of the north Denver Tech Center, creating an irreplaceable market position. The property includes a diverse roster of tenants with immediate upside through lease-up opportunities.
"We are excited to increase our footprint in Denver to around 1,000,000 square feet with the addition of Stanford Place III. Our team's ability to move swiftly and close without financing certainly helped move this deal over the finish line," said Jordan Menashe, CEO of Menashe Properties. Inc. "We are well positioned for continued growth and expansion with new acquisitions in the office, retail r industrial sectors and in existing and new markets. We have had great success acquiring from institutional owners due to our concise and simple due diligence process and streamlined decision making."
"We are pleased to partner with Robert Whittelsey and Abby Pattillo of Colliers to bring our hands-on style, deal-making mindset, and "best value" proposition to Stanford III, as we do with all of our other holdings."
Previously owned by Angelo Gordon Companies, the property features 22,000 square foot floor plates, and was recently renovated with impressive upgrades to the main lobby, common area corridors, and restrooms. Stanford III also features a completely renovated Starbucks Café and deli, as well as numerous seating and gathering areas for tenants and visitors. Additionally, the site boasts unimpeded western mountain views and includes a tenant lounge, a fitness center, secure bike storage, and a conference facility. Numerous walkable amenities including several restaurants, retailers, and hotels as well as a new retail development just two blocks to the south are within walking distance to Stanford III. The building is conveniently located within a one-mile radius of the Hyatt Regency and Marriott DTC hotels.
About Menashe Properties, Inc.
Menashe Properties, Inc. was founded over forty years ago and is a privately held family office committed to excellence in commercial real estate investment and management. The company's primary focus has been in the Pacific Northwest although the company has grown substantially over the past few years with acquisitions of quality office properties in Colorado, Washington, and Texas. Menashe Properties, Inc. prides itself on its attention to detail in professionally managing and improving its properties, sustaining close tenant relationships, and providing exceptional customer service.
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