M & J Wilkow, Ltd. announced the sale of the Triad at Orchard Station on October 15, 2015. The 415,000 square foot office complex, which is located in Greenwood Village, a suburb of Denver, was sold to an affiliate of SteelWave and Stockbridge Capital Group.
Triad at Orchard Station was acquired on December 10, 2012, with the intention of implementing a strategic repositioning and redevelopment program that would ultimately lead to substantial increases in occupancy, net operating income and value. Over the ensuing three years, the Property's building systems were improved; building amenities were enhanced; and the tenant base was upgraded bringing occupancy up to 90% - resulting in almost a two-fold increase in the Property's net operating income. As a result of the foregoing, the actual sale price exceeded our projection by over 12%.