Flywheel acquires fully leased 127,000 sf Lakewood Office asset

Rhea-AI Summary

Flywheel Capital has acquired a 127,000-sf office property at 14023 & 14033 Denver West Parkway in Lakewood, Colorado. The asset is fully leased to a reputable home services company, indicating a stable income stream. John Fefley from Flywheel noted the investment offers a long-term yield due to the credit-worthy tenant. This acquisition marks their second transaction in Metro Denver in six months, reflecting confidence in the area's growth potential. Flywheel aims to expand further within the office and industrial sectors, contributing to Colorado's economic health.

Positive

• Acquisition of a fully leased 127,000-sf office asset providing stable income.
• Long-term lease with a credit-worthy tenant enhancing investment security.
• Second transaction in Metro Denver indicates strategic growth in a promising market.
• Optimistic outlook for Denver West due to limited developable land and government presence.

Negative

• None.

LAKEWOOD, Colo., March 15, 2021 /PRNewswire/ -- Flywheel Capital has successfully acquired 14023 & 14033 Denver West Parkway, a 127,000-sf office asset in Lakewood, Colorado that is fully leased to a company specializing in home services. 

John Fefley, Senior Director with Flywheel, stated "the investment offered an in-place, long term lease with a credit worthy, brand name tenant, providing an attractive long-term yield for our Latin America based partner."  This is the joint venture's second transaction within Metro Denver in the past six months and they continue to be excited about growing the relationship in Denver and the Front Range as they view it as an attractive growth market. Fefley went on to say, "Denver West has historically been viewed as a steady submarket within Metro Denver and we subscribe to that theory as well.  Due to proximity to the foothills and lack of available developable land coupled with the large government presence both in and around the Denver Federal Center, we share an optimistic outlook for Denver West both now and into the foreseeable future."  

Flywheel continues to seek additional opportunities within the office, office / flex, and industrial product types that provide either dependable long term cash flow or a value-add component requiring a more capital intensive and / or lease up strategy.  Flywheel Capital is active from Fort Collins to Pueblo, creating long-term, generational wealth through insightful and creative investments in commercial real estate, while positively contributing to the economic health of the Colorado community.

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SOURCE Flywheel Capital

FAQ

What is the significance of Flywheel Capital's recent acquisition of the office asset?

The acquisition of the fully leased 127,000-sf office asset in Lakewood, Colorado, signifies Flywheel's strategic investment in a stable income-generating property.

How does the tenant's creditworthiness impact Flywheel Capital's investment?

The presence of a credit-worthy tenant provides Flywheel with a reliable long-term yield, reducing financial risk associated with the investment.

What future plans does Flywheel Capital have after this acquisition?

Flywheel Capital intends to pursue additional opportunities in the office and industrial sectors, focusing on investments that offer dependable cash flow or require value-add strategies.

Why is Flywheel Capital optimistic about the Denver West market?

Flywheel is optimistic about the Denver West market due to its historical stability, lack of developable land, and significant government presence, all contributing to growth potential.