River East Center
1515 SE Water Ave, Portland, OR 97214
99,999 sf
Jones Lang LaSalle Capital Markets has been exclusively retained to sell the fee simple interest in Vista 25 at Arapahoe Station. This property is comprised of two 3-story office buildings and one 4-story office building (8300), currently occupied at 54.1% with a total area of 197,991 square feet and 4.2 years of WALT.
An original John Madden Development, Vista 25 provides an opportunity to purchase a well-located, premium-designed, class B office property with a diversified tenant mix. The offering, which is backed by strong credit tenancies and varying lease rollover, enables above-average internal rate of returns given a historically low basis. The three structures include covered, executive parking, floor-to-ceiling windows, and design attributes incredibly unique to the competitive set. The recently renovated common areas, inclusive of two conference centers and a high-end fitness center with lockers and showers, as well as outdoor amenity areas with ample collaboration areas.
Additionally, Vista 25 is located adjacent to suburban Denver’s historically highest-rent submarket. The Fiddler’s Green submarket boasts a variety of nationally renowned, investment-grade caliber, 50,000+ square foot tenants like CoBank, Charter Communications, Fidelity, and Starz, while also demanding average rents over $41/SF FSG, positioning Vista 25 in the heart of Metro Denver’s strongest and most educated talent pools.
With its strategic location on the west side of I-25, Vista 25 showcases convenient access to a plethora of retail amenities within walking distance including a 5-minute walk including the Fiddler’s Green Amphitheater, 15-minutes to Arapahoe Entertainment District, and a short drive to the distinguished Landmark Center. The offering is positioned directly adjacent to I-25 and within minutes of the Arapahoe at Village Center Light Rail Station (0.41 miles), capitalizing on access to the two major transportation arteries for north and south commuters in the Denver Metro.
Vista 25 offers optionality in the business plan, as it is divided into two separate parcels, with 8100 and 8200 E Maplewood Ave (Parcel: 2075-21-1-33-001) and 8300 E Maplewood Ave (Parcel: 2075-21-1-33-002) on an individual parcel. While strongly positioned to be sold as a portfolio, Vista 25 offers the opportunity for a user to establish a headquarters in the 8300 building, which is well adapted for larger tenants with more open floor plates. The 8100 and 8200 buildings offer stability at 80.7% leased with a strong anchor tenant in Nextworld, which occupies its 53,456 SF office five days a week with heavy occupancy Tuesday-Thursday, while maintaining ample upside for value-add investors seeking to execute a lease-up strategy on the five vacant suites that range from 1,928 square feet to 8,407 square feet. These vacancies are strongly positioned to sweep up the heart of tenant demand in the southeast suburban market, as 77% of leases signed to date in 2024 fell within the 1,000 to 8,000 square foot range. Offering extraordinary leasing opportunities and the ability to generate substantial value in one of Metro Denver’s most vibrant and desirable urban-suburban areas, Vista 25 is ideally suited for repositioning by an innovative new owner.