Office Regional Sales 12 Month Rolling Report, Denver CBD

OFFICE REGIONAL SALES

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Elephant Corral

1444 Wazee St, Denver, CO

Sale Date 02/16
Cap Rate 5.10
Sale Price $20,549,500
Price PSF $311
Building Size 66,116
YOC 1880
Occupancy 94%

Overview

Seller/ Buyer Stoltz Real Estate Partners/Unico Properties

Submarket Denver CBD, CBD

*sale included 84 surface parking spaces

Sherman Plaza

1888 Sherman St, Denver, CO

Sale Date 01/16
Cap Rate 7.00
Sale Price $11,350,000
Price PSF $178
Building Size 63,803
YOC 1982
Occupancy 91%

Overview

Seller/ Buyer CC&B Investment Group/Sidford Capital

Submarket Denver CBD, CBD

475 17th Street

475 17th St, Denver, CO

Sale Date 12/15
Cap Rate 6.1
Sale Price $26,000,000
Price PSF $172
Building Size 151,425
YOC 1975
Occupancy 93%

Overview

Seller/ Buyer Western Development Group/Phoenix Property Co./LIC

Submarket Denver CBD, CBD

18th Street Atrium

1621 18th St, Denver, CO

Sale Date 12/15
Cap Rate 5.20
Sale Price $44,000,000
Price PSF $388
Building Size 113,536
YOC 1919/1983
Occupancy 94%

Overview

Seller/ Buyer Toma West/Stoltz Real Estate Partners

Submarket Denver CBD, CBD

*Historic LoDo asset; included 187 parking spaces at 1890 Wynkoop

303 East 17th Avenue

303 E 17th Ave., Denver, CO

Sale Date 11/15
Cap Rate N/A
Sale Price $65,500,000
Price PSF $222
Building Size 295,282
YOC 1982
Occupancy 92%

Overview

Seller/ Buyer Broadreach Capital Partners & Equity West Investment Partners/Kennedy Wilson

Submarket Denver CBD, CBD

Wynkoop Building

1430 Wynkoop St., Denver, CO

Sale Date 10/15
Cap Rate 5.00
Sale Price $21,000,000
Price PSF $471
Building Size 44,604
YOC 1900
Occupancy 100%

Overview

Seller/ Buyer Messner & Reeves/Unico Properties

Submarket Denver CBD, CBD

MarketWorks

1630 Market St, Denver, CO

Sale Date 09/15
Cap Rate 5.25
Sale Price $29,675,000
Price PSF $247
Building Size 120,369
YOC 1890
Occupancy 95%

Overview

Seller/ Buyer Jonathan Rose Companies/Urban Renaissance Group

Submarket Denver CBD, CBD

Riverpoint Building

2300 15th St, Denver, CO

Sale Date 09/15
Cap Rate N/A
Sale Price $21,375,000
Price PSF $434
Building Size 49,212
YOC 1951
Occupancy 100%

Overview

Seller/ Buyer Garvin Partners/Goff Capital Partners

Submarket Denver CBD, CBD

990 North Bannock Street

990 N Bannock St., Denver, CO

Sale Date 08/15
Cap Rate 8.00
Sale Price $15,200,000
Price PSF $137
Building Size 110,701
YOC 1982
Occupancy 100%

Overview

Seller/ Buyer Denver Health and Hospital Authority/MegaStar Financial

Submarket Denver CBD, CBD Periphery

*Sale-leaseback; Denver Health will occupy for 2 years and vacate; Buyer will occupy 50% of the bldg

The LAB

2420 17th St, Denver, CO

Sale Date 08/15
Cap Rate N/A
Sale Price $25,714,000
Price PSF $327
Building Size 78,576
YOC 2015
Occupancy 65%

Overview

Seller/ Buyer Brue Capital Partners/Soma Capital Partners & CenterSquare Inv, Mgmt.

Submarket Denver CBD, CBD

*Core & shell condition, buyer to fund TI's

410 17th Street

410 17th St., Denver, CO

Sale Date 06/15
Cap Rate N/A
Sale Price $125,000,000
Price PSF $289
Building Size 433,046
YOC 1978
Occupancy 100%

Overview

Seller/ Buyer Beacon Capital Partners/Ivanhoe Cambridge & Callahan Capital Partners

Submarket Denver CBD, CBD

Denver Club Building

518 17th St, Denver, CO

Sale Date 06/15
Cap Rate 5.25
Sale Price $30,000,000
Price PSF $130
Building Size 231,454
YOC 1954
Occupancy 83%

Overview

Seller/ Buyer Lowe Enterprises/Unico Properties

Submarket Denver CBD, CBD

789 Sherman

789 Sherman St., Denver, CO

Sale Date 06/15
Cap Rate N/A
Sale Price $9,950,000
Price PSF $104
Building Size 95,952
YOC 1973
Occupancy 100%

Overview

Seller/ Buyer Timothy Bernadette Marquez Foundation /Centre Point Properties

Submarket Denver CBD, CBD Periphery

Hedges-Atkins Supply Building

1730 Blake St, Denver, CO

Sale Date 05/15
Cap Rate 5.25
Sale Price $17,900,000
Price PSF $317
Building Size 56,378
YOC 1960
Occupancy 96%

Overview

Seller/ Buyer BareRose Properties/Stoltz Real Estate Partners

Submarket Denver CBD, CBD

1515 Wynkoop

1515 Wynkoop St, Denver, CO

Sale Date 03/15
Cap Rate N/A
Sale Price $171,940,000
Price PSF $560
Building Size 306,791
YOC 2009
Occupancy 95%

Overview

Seller/ Buyer American Realty Advisors/Invesco Realty Advisors

Submarket Denver CBD, CBD

Logan Tower

1580 Logan St, Denver, CO

Sale Date 02/15
Cap Rate 8.0
Sale Price $10,500,000
Price PSF $150
Building Size 69,968
YOC 1983
Occupancy 95%

Overview

Seller/ Buyer DPC Development/Second City Capital

Submarket Denver CBD, CBD Periphery

Alamo Plaza

1401 17th St., Denver, CO

Sale Date 02/15
Cap Rate 5.25
Sale Price $75,000,000
Price PSF $392
Building Size 191,151
YOC 1982
Occupancy 84%

Overview

Seller/ Buyer Lowe Enterprises/Zeller Realty

Submarket Denver CBD, CBD

Above-market parking ratio of 2.5/1,000

Elephant Corral

1444 Wazee St, Denver, CO

Sale Date 01/15
Cap Rate 5.00
Sale Price $17,000,000
Price PSF $215
Building Size 79,087
YOC 1880
Occupancy 95%

Overview

Seller/ Buyer Saslow Management/Stoltz Real Estate Partners

Submarket Denver CBD, CBD

700 Broadway

700 Broadway, Denver, CO

Sale Date 12/14
Cap Rate N/A
Sale Price $70,000,000
Price PSF $158
Building Size 444,209
YOC 1973
Occupancy 100%

Overview

Seller/ Buyer Anthem Blue Cross Blue Shield/CBGREGI (CalSTRS)

Submarket Denver CBD, CBD Periphery

Trinity Place

1801 Broadway, Denver, CO

Sale Date 12/14
Cap Rate 6.00
Sale Price $37,000,000
Price PSF $189
Building Size 195,753
YOC 1981
Occupancy 89%

Overview

Seller/ Buyer The Broe Group/Velocis Partners

Submarket Denver CBD, CBD
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CBRE, Inc.
1225 17th Street, Suite 3200
Denver, CO 80202
 
Timothy P. Richey
Vice Chairman
tim.richey@cbre.com
303.628.7445
 
Michael T. Winn
Vice Chairman
mike.winn@cbre.com
303.628.7447
 
Chad L. Flynn
Vice President
chad.flynn@cbre.com
303.628.7467
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