Kore Investments recently acquired ParkRidge Four, located at 10375 Park Meadows Drive in Lone Tree, from Principal Financial Group for $18 million. This purchase was significantly discounted compared to the previous owner’s acquisition price of $42.2 million in 2015.
In addition to this property, Kore Investments also owns the Re/Max Plaza building in Denver Tech Center and the Kore Co-Working building in Greenwood Village.
According to a report by The Denver Business Journal, Kore secured the ParkRidge Four building through an auction and successfully increased its occupancy from 82% to 89% while under contract. Current tenants include Amica Insurance and CNA insurance company with approximately 7,000 square feet available for lease.
To further improve the property, Kore Investments plans on investing between $1 million to $3 million towards renovation and activation efforts. This strategic plan will enhance both aesthetics and functionality of the building.
