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DENVER-Grosvenor Investment Management US Inc. has acquired a 154,000-sf class A office and lab building in Louisville, CO on behalf of a commingled fund established for Middle Eastern investors. The 99%-leased building changed hands for approximately $25 million, local industry sources tell GlobeSt.com. The seller was Triumph Real Estate Corp.

Built in 1996 as part of the Centennial Valley Business Park, the building contains 72,000 sf of class A office space. The remainder of the building houses clean-room and laboratory space. The tenants are Sun Microsystems Inc., Replidyne Inc. and GlobeImmune Inc. The building address is 1450 Infinite Dr.

Philadelphia-based Grosvenor Investment Management declined to confirm the purchase price. Grosvenor director Jay Matthes says the property has many competitive advantages, including its quality construction, substantial building systems and impressive tenant roster. “We believe the property will compete well in the market over the long term,” he says.

GIM is part of Grosvenor Fund Management, which was established in 2005 as a vehicle for third-party participation in Grosvenor-managed investments. As of year-end 2006, Grosvenor Fund Management had $5.3 billion under management worldwide. Grosvenor Fund Management is part of Grosvenor, a privately owned international property group that represents the interests of the Grosvenor family headed by the Duke of Westminster. The Group undertakes real estate development and investment on its own behalf and on behalf of partners and investors. All told, Grosvenor manages or has interests in approximately $17.3 billion of real estate.

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