{"id":674,"date":"2025-06-30T21:00:39","date_gmt":"2025-06-30T21:00:39","guid":{"rendered":"http:\/\/www.agencywebdesigners.com\/?p=674"},"modified":"2025-07-03T14:23:00","modified_gmt":"2025-07-03T14:23:00","slug":"distressed-aurora-office-complex-sells-at-auction-for-5m","status":"publish","type":"post","link":"http:\/\/www.agencywebdesigners.com\/index.php\/2025\/06\/30\/distressed-aurora-office-complex-sells-at-auction-for-5m\/","title":{"rendered":"Distressed Aurora office complex sells at auction for $5M"},"content":{"rendered":"<p>A southern Aurora office complex has been sold at auction after its previous owner defaulted on the property\u2019s loan.<\/p>\n<p>The three-building Aurora Corporate Plaza at 12100-12250 E. Iliff Ave. was purchased earlier this month by Mile High Tech Center LLC for $5.05 million, according to public records.<\/p>\n<p>Rui Chen signed paperwork on behalf of the buyer. Attempts to reach him for contact were unsuccessful. First Western Trust Bank provided the buyer with a $3 million loan, records show.<\/p>\n<p>The complex at the southeast corner of Iliff Avenue and Peoria Street is 220,000 square feet. That makes last week\u2019s deal equate to $23 a square foot.<\/p>\n<p>The property was previously owned by an affiliate of San Francisco-based Graham Street Realty, which bought it in December 2016 for $17.4 million, records show.<\/p>\n<aside class=\"related right\">\n<h2 class=\"widget-title\" data-curated-ids=\"\" data-relation-type=\"automatic-primary-tag\">Related Articles<\/h2>\n<ul>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/25\/colorado-electric-vehicle-charging-funds-lawsuit\/\" title=\"Colorado among states to score win in funds for electric vehicle charging\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tColorado among states to score win in funds for electric vehicle charging\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/25\/little-bear-saloon-evergreen-lawsuit\/\" title=\"Owners\u2019 dustup turns to legal duel at Little Bear Saloon in Evergreen\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tOwners\u2019 dustup turns to legal duel at Little Bear Saloon in Evergreen\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/25\/st-charles-town-colfax-choice-market\/\" title=\"St. Charles Town reopening store, pumps at former Colfax Choice Market\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tSt. Charles Town reopening store, pumps at former Colfax Choice Market\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/24\/jim-leprino-denver-cheese-pizza-mozzarella-magnate\/\" title=\"Colorado\u2019s \u2018Willy Wonka of cheese\u2019 made pizza more affordable for the masses\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tColorado\u2019s \u2018Willy Wonka of cheese\u2019 made pizza more affordable for the masses\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/21\/denver-crypto-school-lawsuit-coinbridge\/\" title=\"Phony Denver crypto school robbed Florida man of $860K, he says\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tPhony Denver crypto school robbed Florida man of $860K, he says\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<\/ul>\n<\/aside>\n<p>Graham Street subsequently defaulted on the property\u2019s loan, issued by Independent Bank. As a result, the property had been overseen since November by Cordes &amp; Co., a court-appointed receiver. <\/p>\n<p>At the time Cordes took over, the property was 38% occupied. The receiver put the property on the auction block last month with a $4.5 million reserve price. Properties are generally not sold if an auction reserve price is not met.<\/p>\n<p>Cordes Director Suni Devitt wrote in a report filed in court in late May that the auction attracted \u201csignificant interest,\u201d with 110 signed confidentiality agreements, seven property tours and nine individuals\/companies registering to bid during the auction.<\/p>\n<p>Mile High Tech Center LLC technically bid $4.93 million, Devitt wrote, but was also responsible for paying the \u201cTen-X buyer premium,\u201d which added $120,000.<\/p>\n<p><em>This story was originally published by <a href=\"https:\/\/businessden.com\/2025\/06\/30\/distressed-aurora-office-complex-sells-at-auction-for-5m\/\">BusinessDen<\/a>.<\/em><\/p>\n<p><em><a href=\"https:\/\/myaccount.denverpost.com\/dp\/preference\">Get more business news by signing up for our Economy Now newsletter.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A southern Aurora office complex has been sold at auction after its previous owner defaulted on the property\u2019s loan. The three-building Aurora Corporate Plaza at 12100-12250 E. Iliff Ave. was purchased earlier this month by Mile High Tech Center LLC for $5.05 million, according to public records. Rui Chen signed paperwork on behalf of the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[],"_links":{"self":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/674"}],"collection":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/comments?post=674"}],"version-history":[{"count":1,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/674\/revisions"}],"predecessor-version":[{"id":675,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/674\/revisions\/675"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/media\/275"}],"wp:attachment":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/media?parent=674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/categories?post=674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/tags?post=674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}