Parker Station sold for $18.5 million

No major shake-ups expected under new ownership

Posted 10/1/19

Parker Station, the 75,000-square-foot building at the heart of downtown Parker, has been sold, but no major changes are expected to be made as management transitions, according to town officials. …

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Parker Station sold for $18.5 million

No major shake-ups expected under new ownership

Posted

Parker Station, the 75,000-square-foot building at the heart of downtown Parker, has been sold, but no major changes are expected to be made as management transitions, according to town officials.

NavPoint Real Estate Group sold Parker Station to Mountain Elk Ridge, LLC and CAIS Futures, LLC, a partnership of private investors who were represented by Pinnacle Real Estate Advisors, a Denver commercial real estate brokerage. Parker Station currently has 47 tenants, nine of which are retail spaces like Swirls Frozen Yogurt, Indochine Cusine and Dough Dreamery.

Parker Station was sold for $18.5 million.

The building's original owners, David and Terri Van Landschoot of Greenwood Village, said they are retiring.

"We will miss Parker," David Van Landschoot wrote in an email Sept. 25. "Just a wonderful community with an even better future ahead for all who live and work in the community. We have great tenants and can only hope the best for all."

Matt Carlson, business recruitment manager for the town's economic department, said there are no plans for any big shake-ups in the current building.

“(Parker Station) is one of the largest multi-user commercial office spaces in Parker and the only Class-A office space on Mainstreet,” Carlson said. “As such, it represents an architectural style that shapes the general perception of 'what fits' on Mainstreet both today and going forward.”

Chris Maley, a managing member of Pinnacle, said there is a plan in the works for Parker Station, but specifics won't be disclosed until the end of this year.

“At this time, we are focused on making sure the change in ownership/management is as smooth as possible,” Maley wrote in an email Sept. 23.

Carlson said the sale was indicative of the need for additional office space on Mainstreet.

“That piece of property is a hallmark,” Carlson said. “It's kind of interesting because it continues to tell us how much of a demand there is for office space on Mainstreet.”

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