Schnitzer West Acquires Two Properties in Southeast Denver Area

DENVER–(BUSINESS WIRE)–Seattle-based Schnitzer
West, one of the West Coast’s fastest-growing real estate
investment, development and property management companies, has announced
the purchase of two properties in the Denver area; Peakview Place in
Centennial, Colorado and 115 Inverness in Englewood, Colorado.
Both properties are ideally positioned in transit-oriented locations
within Denver’s southeast suburban (SES) submarket, Denver’s largest
office market.

Peakview Place is a 475,675-square foot (10.9 acre), Class-A mixed use
commercial development site. The first phase of construction is
scheduled to begin in January 2020. The project is entitled for office,
multi-family, hospitality and retail uses in the highly sought-after
Southeast Denver area. Peakview Place is in close proximity to a wide
variety of amenities including the Fiddler’s Green Amphitheater, nearby
restaurants and retail, as well as the light rail at Village Center
Station.

Located a couple of miles southwest of Peakview Place, 115 Inverness is
a three-story, 55,706 rentable square feet (RSF) existing office. As
part of its investment in the property, Schnitzer West will manage,
renovate, address deferred maintenance and improve amenities such as
creating an on-site conference facility and locker rooms. 115 Inverness
is within walking distance of the Dry Creek Light Rail Station in
Englewood.

“The acquisition of these two properties in Denver’s Greenwood Village
and Centennial submarkets demonstrates Schnitzer West’s continued
commitment to the Denver market by making strategic investments in
transit-oriented micro-markets,” said Doug Zabel, investment partner,
Schnitzer West. “We remain positive on the growth in the region given
its convenient public transportation hubs, highly educated workforce and
ample supply of residential housing. We are excited to add these
properties to our existing portfolio and to increase the availability of
first-class office space in the area to meet tenant demand.”

With the acquisition of Peakview Place and 115 Inverness, Schnitzer West
now owns and/or manages approximately 1.5 million square feet of office
space and adds to Schnitzer West’s regional development pipeline of more
than 1.2 million square feet in the Denver metro area.

About Schnitzer West, LLC

Schnitzer West, LLC is one of the West Coast’s fastest growing real
estate investment, development and property management companies.
Founded in 1997 by managing investment partner Dan Ivanoff of Seattle
and Schnitzer Investment Corp (now MMGL Corp.), the company has built a
successful track record in the commercial and multi-family housing
markets through product innovation, disciplined management and
investment expertise. Known for its commitment to “Outperform the
Expected,” Schnitzer West has earned recognition for creating innovative
workplaces and living spaces, for delivering superior-to-market returns,
and for its value-creation approach to property management. To date, it
has developed in excess of 10.5 million square feet of Class A office
and suburban office, flex, industrial and bio-tech space and luxury
multi-family residential in Seattle and Denver. Additionally, it has
acquired and repositioned approximately 2.8 million square feet of
commercial product. Currently, its Asset Operations group actively
manages 5.4 million square feet of office and industrial property for a
variety of clients. Building on its success in the Northwest, Schnitzer
West owns additional properties in Denver and is exploring new market
opportunities across the Western United States. Learn more at www.schnitzerwest.com.

Contacts

Colleen Moffitt
206-282-4923 ext. 113
colleen@communiquepr.com