The deal brings occupancy in the 135,000-sf building in the former Air Force base to 75%. The Centex deal was inked just a month after Equus Realty Advisors LLC bought the class A building in Lowry, which has been transformed into a successful mixed-use development. The property was 49% occupied when Equus bought it.

The leasing and marketing team of Mitch Bradley, Phil Sweeney and John Marold of CB Richard Ellis represented Equus in the transaction and Paul Herzog Scott Worrell of Cresa Partners and Steve Tune and Frank Rivas of USI Real Estate Brokerage Services represented Centex.

Equus chief operating officer Roger Simsiman, says the "Lowry area is a sustainable business community offering a strong concentration of amenities, retail, business services and housing that make it a desirable in-fill location." He says he expects other major tenants will also see Lowry "as a desired location for the long term."

Equus expects to increase its owned asset base in Colorado through 2005 by adding $50 million to $75 million of investment property and expects to hire a local partner in Denver to manage Equus' expansion in Colorado. Equus' Colorado portfolio totals more than $25 million and more than 330,000 sf in Denver and Colorado Springs.