CBRE Capital Markets Arranges Sale of Single-Tenant 105,000 SF Portfolio in Apple Valley for $9.15M
16 May 2018
CBRE Capital Markets recently closed the sale of a 105,053-square-foot portfolio, currently fully occupied by Questar Assessments, Inc., in Apple Valley to Dakota REIT for $9.15 million.
The institutional quality portfolio, known as the Apple Valley Business Center, includes a 48,733-square-foot single-story office building at 5550 West Upper 147th Street and an adjacent 56,320-square-foot low-finish distribution space at 14720 Energy Way.
Both properties are 100 percent occupied on a long-term lease by Questar, a K-12 educational assessment provider. Questar has occupied both buildings as its corporate office and distribution facility since 2006.
Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz represented the seller, the Excelsior Group LLC. The sale closed May 15, 2018.
"Long-term net leased facilities like the Apple Valley Business Center offer investors a reliable cash flow without as much risk," said Mr. Welliver.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.