CoStar--Manhattan Beach, CA-based Bancroft Capital purchased Highlands Ranch I and II at 630-640 Plaza Dr. in Highlands Ranch, CO from Lone Star Funds. Terms of the deal were not disclosed.
The two-building low-rise office portfolio totals 152,603 square feet within the Highlands Ranch Business Park. Completed in 2001, Highlands Ranch I and II are currently 94% leased to 17 tenants including ARCADIS, ASF International and Wescom Resources Group, according to CoStar information.
Brad Cohen and Larry Theil of Transwestern's capital markets group in Denver represented Lone Star Funds in the transaction.