Real Estate

Uptown office building sells for $8,600,000

April 5, 2016 0
Denver Tower

Photo of Denver Tower courtesy Cushman & Wakefield

Denver Tower, a 54,929 square foot office building located in Denver’s Uptown neighborhood, sold for $8,600,000 on March 31, 2016. Aaron D. Johnson and Jon D. Hendrickson, Senior Directors of the Capital Markets Group with Cushman & Wakefield, had the exclusive listing to sell the property on behalf of Denver-based Centre Point Properties.

“Denver Tower provides a significant value-add opportunity with a stabilized asset where current lease rates are as much as $5.00 per square foot below market,” said Johnson. “The property appeals to a wide range of tenants attracted to an uncongested CBD location within one of Denver’s core neighborhoods. A majority of Denver Tower’s existing tenant base benefits from the close proximity to the Colorado State Capitol.”

Denver Tower is a 10-story office building located at 1905 Sherman Street. It was built in 1975 and then renovated in 2007. The property is 100 percent leased to 14 tenants and features structured parking,  The 20th & Welton Light Rail Station is located two blocks away from Denver Tower

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