Wells Fargo Sues California-Based Developer over $18M Defaulted Loan on Highlands Ranch Office Building

Wells Fargo sues California-based developer over $18M defaulted loan on Highlands Ranch office building

Wells Fargo is suing Presidio Property Trust over a defaulted $18M loan for Highlands Ranch office building Shea Center II at 1805 Shea Center Drive.

Highlands Ranch office landlord defaults on building’s $18M loan

The Shea Center II building at 1805 Shea Center Drive in Highlands Ranch in 2019. (Google Maps) An office landlord in Highlands Ranch has defaulted on the property’s loan. San Diego, California-based Presidio Property Trust paid $25.3 million in 2015 for Shea Center II, which has 120,000 square feet over 4 stories at 1805 Shea Center Drive. The company financed the deal with a $17.7 million loan from Bancorp Bank. Earlier this month, Wells Fargo…