Denver-based investment firm Flywheel Capital (Flywheel) recently announced the purchase of Gateway Center, a four-building office building located on the Denver-Aurora border. The property includes nearly 300,000 square feet of Class A Denver office space, meaning the sale price of $66.85 million equates to approximately $223 per square foot.

The seller, a subsidiary of Equus Capital Partners (Equus), had previously purchased the complex in July 2019 for $45.6 million, according to CommercialEdge data.

Equus statements regarding the transaction stated that the property was recently renovated through a capital improvement program worth approximately $2.5 million. Renovations completed since 2019 include new roofs and improvements to corridors in the common areas, as well as new indoor and outdoor building amenities that provide tenants with a lounge equipped with collaborative workspaces; a WiFi enabled outdoor fire pit patio; a fitness center complete with state-of-the-art equipment, newly built shower and locker rooms, and on-demand personal training classes; and charging points for electric cars.

Gateway Center One on Lewiston Street in Aurora, Co. (property image courtesy of

The best-in-class amenities complement the very convenient location of the property. Gateway Center is located on a 20-acre site along Interstate 70 near its intersection with Peña Boulevard, 13 miles northeast of Denver’s Union Station and 11 miles southwest of Denver International Airport. Gateway Park light rail station—about a mile east of the office complex—offers direct service to downtown Denver and Denver International Airport via the recently completed A and R commuter rail lines.

In addition, Flywheel’s new addition is an integral part of Gateway Business Park, a 1,200-acre mixed-use project with properties for residential, commercial and industrial use. As such, this submarket is an ideal choice for tenants from a wide range of industries, such as transportation/logistics, government, aerospace, manufacturing, construction and engineering. This is also reflected in Gateway Center’s tenant roster. At the time of sale, the property was fully leased to a diverse group of 24 tenants, including aerospace companies Boeing and Lockheed Martin, as well as renewable energy services firm Primoris Corp., financial services firm Billtrust and engineering engineering firm Leidos.

Gateway Center Two on Lewiston Street in Aurora, Co. (property image courtesy of

“Flywheel and our investors view the Gateway acquisition as a great opportunity to own quality Class A real estate in a growth market in the Denver Metro region,” said John Fefley, senior director at Flywheel. “Equus Capital Partners Ltd., who managed the property on behalf of an affiliate, did a great job of improving the property during their ownership. The tenants currently located in Gateway prefer this location over others in the city because of a combination of its proximity to the Northeast workforce, Denver International Airport, or Buckley Space Force Base, and we view these properties as continuing to grow stronger as we come out of Covid. Many tenants in the park continue to use their office during the height of COVID due to the nature of their government contracts and their use of SCIF [Secured Compartmentalized Information Facility] space in their suites.”

Brant Glomb, vice president of Equus, added: “Equus saw an opportunity to invest strategic capital to bring a best-in-class living experience to the Gateway Center lease, while also making large-scale improvements to fundamental real estate needs such as rooftops. and parking spaces were addressed. Its prime features, location, and accessibility have helped create more than 62,500 square feet of leasing since the start of the pandemic, while simultaneously achieving significant rent increases and ultimately 100% occupancy. The mission-critical SCIF lease offers a high probability of renewal and the recent capital investment in the Equus-managed real estate ensures stable cash flow for the next investor.”

Gateway Center Three on Lewiston Street in Aurora, Co. (property image courtesy of

Denver CO

Last modified: October 29, 2021

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