 |
| 475 17th Street, business district, Denver, CO (Photo by Steve Zavodny) |
DENVER, CO –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged $14.3
million acquisition financing for 475
17th Street, a 16-story, 151,425-square-foot office building in Denver’s
central business district.
 |
| Mary Sullivan |
HFF marketed the asset on
behalf of the seller, 475 Investment Partners, a local investment
partnership. Phoenix Property Company
purchased the building for $26 million.
Lincoln Property Company will provide property
management and leasing services.
Additionally, HFF assisted the new owner in securing a $14.3 million,
five-year, fixed-rate loan through Principal Real Estate Investors.
475 17th Street is located
at 17th and Glenarm in the heart of Denver’s central business district, close
to an array of amenities including Denver Pavilions, which offers more than 40
shops, restaurants and entertainment venues, the 16th Street Mall, and many of
the premier hospitality and entertainment options Denver has to offer.
This location along 17th
Street, commonly known as “The Wall Street of the West”, offers immediate
access to the Free MallRide and the Free MetroRide that connect the property to
the Union Station transit hub serving the entire Rocky Mountain West region.
 |
| John Jugl |
Vehicular access is provided via Lincoln and
Broadway, major north and southbound arteries, and 20th Street, which connects
the property to Interstate 25.
Originally completed in 1975, 475 17th Street has undergone more than $1
million in capital upgrades since 2012, including an updated lobby and
two-story atrium. The property is 93
percent leased to 32 tenants in the higher education, energy and professional
services industries.
The HFF investment sales
team was led by senior managing directors John
Jugl and Mary Sullivan.
HFF’s debt placement team
was led by associate director Leon
McBroom and senior managing director John
Rose.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square,
Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment