Office Regional Sales 12 Month Rolling Report, Denver CBD

OFFICE REGIONAL SALES

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1400 Wewatta

1400 Wewatta St. & 1401 Wynkoop St., Denver, CO

Sale Date 12/07
Cap Rate 6.7
Sale Price $112,480,000
Price PSF $380
Building Size 296,000
YOC 2008
Occupancy 38%

Overview

Seller/ Buyer Opus Northwest/Crestone Partners & GE Asset Management

Submarket Denver CBD, CBD

*Pricing reflects estimated stabilized cost basis

Masonic Building

535 16th St, Denver, CO

Sale Date 12/07
Cap Rate 7.0
Sale Price $7,700,000
Price PSF $87
Building Size 88,381
YOC 1889
Occupancy 100%

Overview

Seller/ Buyer 16th & Welton Investments Inc/Triumph Real Estate Corp.

Submarket Denver CBD, CBD

Independence Plaza

1050 17th Street, Denver, CO

Sale Date 12/07
Cap Rate 5.7
Sale Price $144,500,000
Price PSF $255
Building Size 567,287
YOC 1972
Occupancy 95%

Overview

Seller/ Buyer AmStar & American Realty Advisors/CB Richard Ellis Investors

Submarket Denver CBD, CBD

Colorado Tower

621 17th St., Denver, CO

Sale Date 12/07
Cap Rate N/A
Sale Price $40,000,000
Price PSF $94
Building Size 424,279
YOC 1957
Occupancy 80%

Overview

Seller/ Buyer Colorado & Santa Fe Real Estate/Toma West (Grant Management)

Submarket Denver CBD, CBD

Guaranty Bank Building

1331 17th St., Denver, CO

Sale Date 10/07
Cap Rate 6.1
Sale Price $69,950,000
Price PSF $318
Building Size 220,287
YOC 1982
Occupancy 100%

Overview

Seller/ Buyer Westfield Development/Hines

Submarket Denver CBD, CBD

633 17th Sreet

633 17th St., Denver, Co

Sale Date 09/07
Cap Rate 4.6
Sale Price $115,300,000
Price PSF $209
Building Size 552,988
YOC 1974
Occupancy 90%

Overview

Seller/ Buyer Triple Net Properties/Toma West (Grant Management)

Submarket Denver CBD, CBD

17th & Grant

303 E. 17th Street, Denver, CO

Sale Date 07/07
Cap Rate 6.3
Sale Price $44,800,000
Price PSF $169
Building Size 265,520
YOC 1982
Occupancy 95%

Overview

Seller/ Buyer Starr Realty/Broadreach Capital Partners

Submarket Denver CBD, CBD

Denver Place

999 18th St., Denver, CO

Sale Date 06/07
Cap Rate 2.8
Sale Price $200,000,000
Price PSF $241
Building Size 829,625
YOC 1981
Occupancy 62%

Overview

Seller/ Buyer Amerimar & GE Asset Management/LBA Realty

Submarket Denver CBD, CBD

Larimer Corporate Plaza

1675 Larimer St, Denver, CO

Sale Date 04/07
Cap Rate 6.7
Sale Price $16,700,000
Price PSF $152
Building Size 110,211
YOC 1980
Occupancy 96%

Overview

Seller/ Buyer ACF Property Management/Centennial Realty Advisors

Submarket Denver CBD, CBD

Lincoln Center

1660 Lincoln St., Denver, CO

Sale Date 04/07
Cap Rate 4.1
Sale Price $45,500,000
Price PSF $160
Building Size 283,553
YOC 1972
Occupancy 75%

Overview

Seller/ Buyer Divco West Properties/Scanlan Kember Bard

Submarket Denver CBD, CBD

410 17th St

410 17th St, Denver, CO

Sale Date 03/07
Cap Rate 4.6
Sale Price $104,400,000
Price PSF $261
Building Size 399,385
YOC 1978
Occupancy 89%

Overview

Seller/ Buyer Blackstone (EOP)/Callahan Capital Partners

Submarket Denver CBD, CBD

*Part of a 5 building, 2.7M SF portfolio (4.9% cap)

Denver Post Tower

1560 Broadway, Denver, CO

Sale Date 03/07
Cap Rate 5.0
Sale Price $99,700,000
Price PSF $174
Building Size 571,468
YOC 1984
Occupancy 83%

Overview

Seller/ Buyer Blackstone (EOP)/Callahan Capital Partners

Submarket Denver CBD, CBD

*Part of a 5 building, 2.7M SF portfolio (4.9% cap)

Dominion Plaza

600 17th St, Denver, CO

Sale Date 03/07
Cap Rate 5.0
Sale Price $133,400,000
Price PSF $233
Building Size 571,468
YOC 1982
Occupancy 89%

Overview

Seller/ Buyer Blackstone (EOP)/Callahan Capital Partners

Submarket Denver CBD, CBD

*Part of a 5 building, 2.7M SF portfolio (4.9% cap)

Tabor Center

1200 17th St., Denver, CO

Sale Date 03/07
Cap Rate 5.1
Sale Price $265,800,000
Price PSF $381
Building Size 697,036
YOC 1986
Occupancy 94%

Overview

Seller/ Buyer Blackstone (EOP)/Callahan Capital Partners

Submarket Denver CBD, CBD

*Price excludes $27M allocated to Tabor II land; part of a 5 building, 2.7M SF portfolio (4.9% cap)

US Bank Tower

950 17th St, Denver, CO

Sale Date 03/07
Cap Rate 4.9
Sale Price $139,700,000
Price PSF $283
Building Size 494,342
YOC 1974
Occupancy 97%

Overview

Seller/ Buyer Blackstone (EOP)/Callahan Capital Partners

Submarket Denver CBD, CBD

*Part of a 5 building, 2.7M SF portfolio sale (4.9% cap)

Park Central

1515 Arapahoe St, Denver, CO

Sale Date 01/07
Cap Rate 6.2
Sale Price $140,000,000
Price PSF $254
Building Size 550,440
YOC 1973
Occupancy 99%

Overview

Seller/ Buyer Beacon Capital Partners/Walton St. Capital & Means-Knaus

Submarket Denver CBD, CBD

Symes Building

820 16th St, Denver, CO

Sale Date 01/07
Cap Rate 7.8
Sale Price $12,000,000
Price PSF $130
Building Size 91,996
YOC 1906
Occupancy 100%

Overview

Seller/ Buyer Silver Oak Capital/CN Symes LP

Submarket Denver CBD, CBD

1125 17th Street

1125 17th St, Denver, CO

Sale Date 12/06
Cap Rate 4.8
Sale Price $120,000,000
Price PSF $245
Building Size 489,393
YOC 1980
Occupancy 97%

Overview

Seller/ Buyer Broadway Real Estate Partners/Broadreach Capital Partners & Transwestern

Submarket Denver CBD, CBD

EPA Building

1595 Wynkoop St, Denver, CO

Sale Date 12/06
Cap Rate 7.0
Sale Price $91,325,000
Price PSF $327
Building Size 279,022
YOC 2006
Occupancy 100%

Overview

Seller/ Buyer Opus Northwest/Government Properties Trust

Submarket Denver CBD, CBD

*Build-to-suit for the Environmental Protection Agency

1660 Wynkoop

1660 Wynkoop St, Denver, CO

Sale Date 12/06
Cap Rate 7.2
Sale Price $13,900,000
Price PSF $224
Building Size 62,187
YOC 1983
Occupancy 100%

Overview

Seller/ Buyer Mindlin Companies/Legacy Partners Commercial

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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