SHORENSTEIN BUYS DENVER CITY CENTER OFFICE BUILDINGS
DENVER — Shorenstein Properties LLChas purchased Denver City Center, a pair of Class A office buildings totaling 1.3 million square feet in the city’s downtown region, for a reported $286 million. The center is located along17thStreet in the city’s Financial District.
The acquisition includes the office portion of 707 17thStreet, which occupies floors 21 through 42 of the building. Marriott Denver City Center resides on the lower floors of the building, and was not included in this transaction. The acquisition did include the adjacent Johns Manville Plaza, a 29-story office building. Both buildings were renovated in 2013.Notable tenants include Jacobs Engineering, Forest Oil Corporation, Johns Manville, Baker Hughes and AECOM.
This is Shorenstein’s first acquisition in Denver since the early 1990s. The company completed its most recent acquisition on behalf of its tenth fund, Shorenstein Realty Investors Ten, L.P. The seller, Crescent Real Estate Holdings LLC,a subsidiary of Barclays plc, was represented by HFF’s John Jugl and Mary Sullivan.