Office Regional Sales 12 Month Rolling Report, Denver CBD

OFFICE REGIONAL SALES

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The Capitol Center

225 E 16th Ave, Denver, CO

Sale Date 04/11
Cap Rate 8.9
Sale Price $24,200,000
Price PSF $157
Building Size 154,148
YOC 1963
Occupancy 100%

Overview

Seller/ Buyer The Capitol Center LLC/Sumerian Capital

Submarket Denver CBD, CBD

550 15 Street

550 15th St, Denver, CO

Sale Date 03/11
Cap Rate n/a
Sale Price $9,400,000
Price PSF $40
Building Size 236,977
YOC 1961
Occupancy 0%

Overview

Seller/ Buyer Xcel Energy (Public Service Co. of Colorado)/Stonebridge Companies

Submarket Denver CBD, CBD

*Building was vacated by Xcel Energy in 2010

1800 Larimer

1800 Larimer St, Denver, CO

Sale Date 02/11
Cap Rate 5.8% in place/6.6% stab.
Sale Price $213,230,000
Price PSF $430
Building Size 495,518
YOC 2010
Occupancy 88%

Overview

Seller/ Buyer Westfield Company/INVESCO Realty Advisors

Submarket Denver CBD, CBD

*Xcel Energy occupies 340K SF (69%) through June 2025

2300-2340 Blake Street

2300-2340 Blake St, Denver, CO

Sale Date 12/10
Cap Rate n/a
Sale Price $8,500,000
Price PSF $194
Building Size 43,750
YOC 1910
Occupancy 0%

Overview

Seller/ Buyer McClain Finlon Advertising Inc./Church of Scientology

Submarket Denver CBD, CBD Periphery

*Owner/user sale

Granite Tower

1099 18th Street, Denver, CO

Sale Date 12/10
Cap Rate 6.5
Sale Price $149,000,000
Price PSF $265
Building Size 561,691
YOC 1983
Occupancy 95%

Overview

Seller/ Buyer Granite Properties/KBS Realty Advisors

Submarket Denver CBD, CBD

The Urology Center of Colorado

2777 Mile High Stadium Cir, Denver, CO

Sale Date 09/10
Cap Rate 8.0
Sale Price $23,250,000
Price PSF $422
Building Size 55,100
YOC 2006
Occupancy 100%

Overview

Seller/ Buyer Development Solutions Group/Charter Realty Group

Submarket Denver CBD, CBD Periphery

Symes Bulding

820 16th Street, Denver, CO

Sale Date 07/10
Cap Rate 6.2
Sale Price $5,700,000
Price PSF $60
Building Size 94,643
YOC 1906
Occupancy 77%

Overview

Seller/ Buyer Capmark Bank/820 16th Street LLC

Submarket Denver CBD, CBD

*Significant deferred maintenance ($1m-$1.5m)

1860 Lincoln

1860 Lincoln St, Denver, CO

Sale Date 03/10
Cap Rate n/a
Sale Price $16,416,000
Price PSF $48
Building Size 338,892
YOC 1964
Occupancy 13%

Overview

Seller/ Buyer CWCapital Asset Management/East Pioneer LLC & ARCUS

Submarket Denver CBD, CBD

*This was a foreclosure sale

US Bank Building

918 17th St, Denver, CO

Sale Date 12/09
Cap Rate N/A
Sale Price $4,500,000
Price PSF $43
Building Size 103,840
YOC 1915-1926
Occupancy 0%

Overview

Seller/ Buyer Capmark Finance/Stonebridge Companies

Submarket Denver CBD, CBD

Seventeenth Street Plaza

1225 17th St, Denver, CO

Sale Date 06/09
Cap Rate n/a
Sale Price $134,250,000
Price PSF $201
Building Size 666,653
YOC 1982
Occupancy 93%

Overview

Seller/ Buyer JP Morgan/HRPT Properties Trust

Submarket Denver CBD, CBD

1875 Lawrence

1875 Lawrence St, Denver, CO

Sale Date 10/08
Cap Rate N/A
Sale Price $34,450,000
Price PSF $185
Building Size 185,737
YOC 1982
Occupancy 99%

Overview

Seller/ Buyer Principal Global Investors/Behringer Harvard

Submarket Denver CBD, CBD

World Trade Center I & II

1625 & 1675 Broadway, Denver, CO

Sale Date 10/08
Cap Rate n/a
Sale Price $157,800,700
Price PSF $205
Building Size 769,798
YOC 1979-1980
Occupancy 92%

Overview

Seller/ Buyer Broadreach Capital Partners & Transwestern/LaSalle Investment Management

Submarket Denver CBD, CBD

Millennium Financial Center

1550 17th Street, Denver, CO

Sale Date 10/08
Cap Rate 6.9
Sale Price $47,600,000
Price PSF $357
Building Size 133,500
YOC 2000
Occupancy 98%

Overview

Seller/ Buyer Millennium Financial Center Holdings, LP/Dividend Capital

Submarket Denver CBD, CBD

Hardware Block

1515 Wazee St, Denver, CO

Sale Date 09/08
Cap Rate 6.7
Sale Price $15,020,000
Price PSF $294
Building Size 51,125
YOC 1895
Occupancy 100%

Overview

Seller/ Buyer St. Charles Town Co./Elevation Group

Submarket Denver CBD, CBD

Parkway Center

1391 N. Speer Blvd., Denver, CO

Sale Date 08/08
Cap Rate N/A
Sale Price $12,420,000
Price PSF $94
Building Size 132,131
YOC 1982
Occupancy 78%

Overview

Seller/ Buyer Archon Group/DPC Development Co.

Submarket Denver CBD, CBD Periphery

Writer Square

1512 Larimer Street, Denver, CO

Sale Date 08/08
Cap Rate 6.0
Sale Price $58,400,000
Price PSF $326
Building Size 179,271
YOC 1981
Occupancy 96%

Overview

Seller/ Buyer TA Associates/GDA Real Estate Services

Submarket Denver CBD, CBD

Sherman Center

789 Sherman St, Denver, CO

Sale Date 03/08
Cap Rate 6.0
Sale Price $11,875,000
Price PSF $123
Building Size 96,160
YOC 1973
Occupancy 83%

Overview

Seller/ Buyer Sherman Center, LLC/789 Sherman St, LLC

Submarket Denver CBD, CBD Periphery

Denver Financial Center

1775 Sherman St.& 1776 Lincoln St., Denver, CO

Sale Date 03/08
Cap Rate N/A
Sale Price $84,017,000
Price PSF $193
Building Size 435,672
YOC 1970 & 1983
Occupancy 88%

Overview

Seller/ Buyer Cornerstone Real Estate Advisors/USAA Real Estate

Submarket Denver CBD, CBD

Lawrence Court

1475 Lawrence Street, Denver, CO

Sale Date 03/08
Cap Rate N/A
Sale Price $23,800,000
Price PSF $242
Building Size 98,407
YOC 1982
Occupancy 8%

Overview

Seller/ Buyer Legacy Partners/University of Colorado Foundation

Submarket Denver CBD, CBD

Capitol Center

225 E. 16th St & 1600 Sherman St, Denver, CO

Sale Date 01/08
Cap Rate 7.0
Sale Price $21,500,000
Price PSF $138
Building Size 156,000
YOC 1958/1963
Occupancy 93%

Overview

Seller/ Buyer Sherman Street Properties/F&C Holdings

Submarket Denver CBD, CBD Periphery
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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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