The five-story building with 60,736 net rentable square feet of space is located at 9035 Wadsworth Parkway.

The Silo Office complex in Westminster has been sold for $6,117,000.

The five-story building with 60,736 net rentable square feet of space is located at 9035 Wadsworth Parkway. The seller was 6000 East Evans LLC, owned primarily by August Investors; the buyer was listed as Silo Office Park LLC. CCREPros of Denver represented the seller, and Brian Smith with Marcus & Millichap of Denver represented the buyer.

According to Michael Honc, vice president with CCREPros, the 1982-vintage property went through foreclosure in 2010.

“Despite running into financing issues during the recession and going through a foreclosure, the building’s occupancy rarely dipped below 85 percent,” Honc said.

“This was a transaction where both parties got an amazing deal. The buyer acquired a rock-solid asset that is well poised to take advantage of the improving economy and the seller was able to secure a good return on its investment,” he said.

The property — named for an old silo on the site — is primarily occupied by legal, medical, insurance, and real estate professionals.

Zachary Segal, the CEO of August Investors, said Honc and CCREPros “did an excellent job marketing the property. With the sale complete, we will continue our aggressive pursuit of non-performing loan, distressed, and value-add property acquisition opportunities.”

Originally published: http://www.bizjournals.com/denver/blog/real_deals/2013/11/westminster.html