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GREENWOOD VILLAGE, CO-Means Knaus Partners, based in Dallas and Houston, made its first purchase in the Denver area when it bought the class A Orchard Pointe building in the Denver Tech Center. The price wasn’t disclosed, but public records indicate it paid $12.6 million for the 113,348-sf building.

“We are very pleased to add Orchard Pointe to our portfolio of Colorado properties,” says Bill Brownfield, director of acquisitions at Means Knaus Partners. “Our firm is also excited to become part of the DTC, one of the first and finest suburban office parks in the nation.”

Brownfield tells GlobeSt.com that Orchard Pointe “had the best access of any building we looked at.” Its location, as well as the quality of construction, explains why it is bucking the trend of the soft market and is about 95% leased, he notes.

The six-story building was built in 1985, a time when no expense was spared in constructing buildings. Tenants range from 1,000 sf to more than 15,000 sf. The building has been extensively renovated and has had major interior upgrades in 2000.

Means Knaus Partners first began its Denver operations in 2000. Although this is the private firm’s first purchase in the Denver area, it manages two high-rise office buildings Downtown–Park Central and 1125 17th St.

Ron Urgitus, who handled the deal with fellow CB Richard Ellis brokers Mary Sullivan and Tim Swan, says the replacement cost for Orchard Pointe is at least $160 per sf. “Means Knaus got an excellent deal,” Urgitus tells GlobeSt.com.

Mean Knaus will manage Orchard Pointe, but hired Doug Wulf and Robert Knisley of Fuller and Co. to lease and market it.

“We are actively looking for other buildings to buy in the Denver area,” Brownfield tells GlobeSt.com.

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