MENU NEWS ROOM NEWS ROOM Bendetti Buys Park Technology Center 2019-01-16 00:00:00Z Bendetti Buys Park Technology Center See full article on Colorado Real Estate Journal Colorado Real Estate Journal - January 16, 2019 Benedetti buys Park Technology Center by Jill Jamieson-Nichols A California buyer that entered the Denver industrial market a year ago has acquired Park Technology Center in Westminster for $19.3 million, according to public records. An affiliate of Irvine-based The Benedetti Co. paid $132.46 per square foot for the 145,700-sf park at 960-1130 W. 124th Ave. The property consists of four buildings ranging from about 33,400 to 39,400 sf that were approximately 97 percent leased at the time of the sale. FRV CO LLC and First Industrial LP were the sellers. The acquisition follows The Benedetti‚Äôs $17.25 million purchase of Turnpike Business Park a year ago. ‚ÄúWe had been looking in Denver for quite some time before that. Turnpike has done very well for us, and so we are continuing to look at other acquisitions, primarily industrial or flex acquisitions, in the Denver area,‚Äù said Jared Christensen, Benedetti managing director. ‚ÄúThis property came across our desk … and fortunately we were able to work a deal out with the seller,‚Äù he said, adding Park Technology is a Class A flex development that represents institutional-quality construction and has been very well maintained. ‚ÄúIt‚Äôs in a great market that has strong fundamentals, and so we felt comfortable in pursing this asset,‚Äù Christensen said. CBRE Inc. brokers Jeremy Ballenger, Tyler Carner and Jim Bolt represented the seller. ‚ÄúWe were very pleased with how cooperative the seller was, how smooth the transaction was, and we were very pleased with how CBRE handled the sale,‚Äù Christensen commented. Park Technology Center was built in 2001 and houses approximately 25 tenants, including Source Refrigeration & HVAC Inc. and Isotec Security, each of which occupies about 11,000 sf. The average office finish is 55 percent. The Benedetti Co. is an approximately 55-year-old commercial real estate company that develops, acquires and manages industrial real estate in the Western United States. Go Back Media Contact: Leslie Licano, Beyond Fifteen Communications, Inc. 949.733.8679, leslie@beyondfifteen.com Current News Bendetti Buys Park Technology Center 2019-01-16 00:00:00Z Bendetti Buys Park Technology Center See full article on Colorado Real Estate Journal California buyer looking to enter market lands 188,077sf 2018-01-02 00:00:00Z California buyer looking to enter market lands 188,077sf View a PDF of the article High Gains on Recent Las Vegas Acquisition and Disposition 2016-07-12 00:00:00Z The Bendetti Company Reports High Gains on Recent Las Vegas Acquisition and Disposition See the full article on Marketwired One of the Biggest Challenges in CRE 2015-05-21 00:00:00Z Weaver: ‚ÄúThe biggest challenge I see in the real estate sector is its inherent cyclical nature.‚Äù Opportune Timing Presents Off-Market Acquisition 2018-10-31 00:00:00Z Opportune Timing Presents Off-Market Acquisition See full article on GlobeStreet.com The Bendetti Company Announces New Acquisitions In California And Nevada 2015-04-22 00:00:00Z Southern California Commercial Real Estate Investment and Management Company Reports Early Successes of its Recent Value-Add Acquisitions The Bendetti Company Appoints New CFO 2015-04-21 00:00:00Z Real Estate Investment and Management Company Welcomes Aaron Weaver See the full article on CoStar The Bendetti Company Expands Nevada Market Presence With Acquisitions in Reno/Sparks 2016-06-06 00:00:00Z Southern California Commercial Real Estate Investment and Management Company Acquires Approximately 800,000 Square Feet in Thriving Nevada Markets See the full article on Marketwired What Reno Has To Offer This OC Firm 2016-06-16 00:00:00Z IRVINE, CA‚ÄîThere is a bright future for industrial real estate in general... See full article on Globe Street Copyright© 2020, The Bendetti Company