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CENTENNIAL, CO-Triple Net Properties LLC has paid $7.98 million for Arapahoe Business Park I and II. The Santa Ana, CA-based company purchased the properites, which combined have 133,490 sf of space, on behalf of 1031 exchange tenants-in-common investors.

Arapahoe Business Park consists of two buildings. Arapahoe Business Park I is a 55,160-sf office complex located at 7388 South Revere Parkway, and Arapahoe Business Park II is a 78,330-sf office complex at 7399 South Tucson Way, both in Centennial. Major tenants of these two properties include Peak Performance Technology, Advantage Sales & Marketing LLC, and The Scotts Co.

Arapahoe Business Park was purchased from WKB Value Partners LP. Triple Net received a 5% fixed rate for the purchase.

The 25-year amortized loan was arranged by Peter Kepper of Essex Financial through SunLife Insurance Co. and Gary Ruhl of Triple Net Properties.

Triple Net Properties manages a portfolio of more than 11 million sf of commercial properties with a market value of $1 billion. It has regional offices in Chicago, Denver, Las Vegas, San Antonio and Tampa. Triple Net is currently buying and selling properties throughout the Western U.S., Florida, Illinois, Nevada, Texas and the Hawaiian Islands.

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