Northstar Commercial Partners acquires Cherry Creek Place II in Aurora

Northstar Commercial Partners (NCP) has acquired Cherry Creek Place II located at 3190 South Vaughn Way. Cherry Creek Place II is a six-story multi-tenant suburban office building consisting of 204,019 s/f on 7.814 acres. It has a 4,300 s/f data center and a wellness center with a 1,600 s/f fitness room, as well as a three-deck covered parking garage. "The timeless architecture and efficient design combined with the wide-open office spaces made Cherry Creek Place II an ideal acquisition target," said Brian Watson, founder and president of Northstar Commercial Partners. "With the purchase of this property at 12% of its replacement cost value, Northstar is excited to place this vacant, distressed asset back into productivity for the Aurora Community. This building is now open for business and we look forward to filling it up soon!" Mike Winn, Tim Richey and Chad Flynn of Cushman and Wakefield represented the Seller in the transaction. NCP will immediately offer the property for lease or sale to users, and is already in negotiations with several tenants to lease all or a portion of the asset. Phil Sweeney of Grubb and Ellis will market the asset on behalf of the new ownership.