Investment Overview

Marcus and Millichap is pleased to offer the opportunity to acquire a +/- 20,900 SF single story office building (“Asset” or “Property”) that can be delivered as an owner-user potential or an investment that is 100% leased by ConvergeOne, Inc. (“Tenant”). The Tenant has occupied the building since its construction, with ConvergeOne purchasing the operating business and signing a new lease in 2018. ConvergeOne restructured their lease at the start of 2023 with a 5-year term, bringing lease expiration to the end of 2027. The Asset, a single story +/- 20,900 SF tilt-up office building, has been meticulously maintained by the same ownership and tenant since its original construction, with new carpet and interior paint completed in 2023. The Asset is equipped with a 1,000 SF data room, which is provided with 1MW of power and a backup generator. This data room is mission critical for the Tenant's business operations, creating stickiness for the Tenant and this Asset. Additionally, the building is flex in nature with 14’ clear height, two drive in doors and 1,835 SF of warehouse space with the ability to expand in the future. This Property offers the opportunity to purchase for either owner-user occupancy or investment. The Tenant expressed to current ownership that they would be open to an early departure given adequate time. Additionally, the Tenant indicated that they intend to keep an office in Denver and are prepared to renew as well. ConvergeOne, also known as C1, is the global technology solution provider of cybersecurity, infrastructure solutions, communication solutions with more than 6,000 customers utilizing C1’s services every day. C1 collaborates with many of the Fortune 1000 companies and public sector organizations along with other key global industry partners to deliver solutions with a total life cycle approach. The Asset is located in Englewood, CO, situated in a growing suburban area characterized by residential and commercial retail development within the Denver MSA. More specifically, the Asset is situated on +/- 1.58 acres of land and is 2.5 miles east of I-25 which is a main north/ south arterial running through the Denver MSA. The Asset sits less than 1.5 miles away from Centennial Airport. ConvergeOne is on a NNN lease with minimal landlord obligations, a market rental rate of $21.57/SF NNN, and favorable annual rent increases. This single tenant net lease office Asset provides cash flow with significant annual rent escalations, allows investors the opportunity to achieve attractive yields and security in the underlying value of the high-quality building.