The office building at 169 Inverness Drive West. (Courtesy Kore Investments)
A newer office building along Interstate 25 in the southern part of the metropolitan area has sold.
Greenwood Village-based Kore Investments paid $28.5 million last month for the 118,000-square-foot building at 169 Inverness Drive West in unincorporated Arapahoe County, according to public records.
That’s a bit more than the $27 million the seller, Beacon Capital Partners, paid in April 2019 — which might seem unexpected in today’s office climate.
But Chad Duncan, Kore’s director of acquisitions, said the building is very different now compared with then.
“It was vacant when Beacon bought it,” he said.
Now, the building is 96% leased, with tenants including UnitedHealthcare, Leidos and CSG Systems. Duncan said the tenant mix and the newer construction — 169 Inverness was completed in 2017 by Artis REIT and Trammell Crow Co. — were two factors that made the property attractive.
The deal was Kore’s first in the southern part of the metro area since September 2024, when the company purchased the ParkRidge Four office building at 10375 Park Meadows Drive in Lone Tree.
Kore’s other local holdings include the Re/Max Plaza building at 5075 S. Syracuse St. in Denver. The company was founded in 2017 by Jack Kim.
Beacon, the seller, is a major Denver landlord. Early last year, the company completed the Steel House building in RiNo, where ski resort owner Alterra is eyeing a lease. In November, meanwhile, Beacon gave its 1800 Larimer St. tower to a lender; the building recently lost tenant Xcel Energy, which had leased more than half of it.
The neighboring 161 Inverness building was purchased in 2023 by local firm Westside Investment Partners.
The office building at 169 Inverness Drive West. (Courtesy Kore Investments)
A newer office building along Interstate 25 in the southern part of the metropolitan area has sold.
Greenwood Village-based Kore Investments paid $28.5 million last month for the 118,000-square-foot building at 169 Inverness Drive West in unincorporated Arapahoe County, according to public records.
That’s a bit more than the $27 million the seller, Beacon Capital Partners, paid in April 2019 — which might seem unexpected in today’s office climate.
But Chad Duncan, Kore’s director of acquisitions, said the building is very different now compared with then.
“It was vacant when Beacon bought it,” he said.
Now, the building is 96% leased, with tenants including UnitedHealthcare, Leidos and CSG Systems. Duncan said the tenant mix and the newer construction — 169 Inverness was completed in 2017 by Artis REIT and Trammell Crow Co. — were two factors that made the property attractive.
The deal was Kore’s first in the southern part of the metro area since September 2024, when the company purchased the ParkRidge Four office building at 10375 Park Meadows Drive in Lone Tree.
Kore’s other local holdings include the Re/Max Plaza building at 5075 S. Syracuse St. in Denver. The company was founded in 2017 by Jack Kim.
Beacon, the seller, is a major Denver landlord. Early last year, the company completed the Steel House building in RiNo, where ski resort owner Alterra is eyeing a lease. In November, meanwhile, Beacon gave its 1800 Larimer St. tower to a lender; the building recently lost tenant Xcel Energy, which had leased more than half of it.
The neighboring 161 Inverness building was purchased in 2023 by local firm Westside Investment Partners.
