{"id":1004039833,"date":"2012-03-15T06:17:02","date_gmt":"2012-03-15T14:17:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004037525"},"modified":"2022-12-08T10:42:50","modified_gmt":"2022-12-08T18:42:50","slug":"granite-properties-buys-denver-tower-dallas-plaza","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/granite-properties-buys-denver-tower-dallas-plaza\/","title":{"rendered":"Granite Properties Buys Denver Tower, Dallas Plaza"},"content":{"rendered":"<p><strong>By Nicholas Ziegler, News Editor<\/strong><br \/>\n<div id=\"attachment_1004037526\" style=\"width: 222px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/03\/031512-Plaza-Tower-One-Denver.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004037526\" data-attachment-id=\"1004037526\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/030712-faneuil-hall-boston-300x195-150x150\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/03\/030712-Faneuil-Hall-Boston-300x195-150x150.jpg\" data-orig-size=\"150,150\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"030712-Faneuil-Hall-Boston-300&#215;195-150&#215;150\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/03\/030712-Faneuil-Hall-Boston-300x195-150x150.jpg?w=150\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/03\/031512-Plaza-Tower-One-Denver.jpg\" alt=\"\" title=\"031512 - Plaza Tower One Denver\" width=\"212\" height=\"300\" class=\"size-medium wp-image-1004037526\" \/><\/a><p id=\"caption-attachment-1004037526\" class=\"wp-caption-text\">Plaza Tower One in Denver<\/p><\/div><\/p>\n<p>Granite Properties has made two major office purchases in the last few days: Plaza Tower One in Denver and Cedar Maple Plaza in Dallas.<\/p>\n<p>Plaza Tower One, Granite\u2019s Denver purchase , is a 22-story, 468,885-square-foot property in the Greenwood Plaza submarket of the city. The class A building is currently 88 percent leased to tenants including TCF National Bank, ThyssenKrupp Robins and Merrill Lynch. CBRE Group Inc. represented the seller, Clarion Partners, in the deal.<\/p>\n<p>\u201cThis landmark sale is representative of a collective resurgence of confidence in the Denver market.\u201d Tim Swan, a broker with CBRE, said. \u201cPlaza Tower One is perfectly situated to take advantage of the positive trends Denver is experiencing on both the leasing and investment fronts.\u201d<\/p>\n<p>A report by services firm Cushman &amp; Wakefield Inc. corroborates Swan\u2019s assertion. According to the company\u2019s research, two years of consecutive increases in leasing activity has led to a 3.1 percent drop in office vacancy from the peak reached at the end of 2009 &#8212; reaching 15.6 percent at the end of last year. \u201cRelatively steady local demand should work to further reduce vacancy rates &#8212; especially in class A properties,\u201d the report noted.<\/p>\n<p>Colliers International has been tapped to provide leasing services for the building, which Granite says will undergo \u201cextensive cosmetic improvements and system upgrades.\u201d Plaza Tower One is located in the city\u2019s Southeast submarket and is LEED Gold certified.<\/p>\n<p>Additionally, Granite Properties made a second pickup in the last week, purchasing the 120,000-square-foot Cedar Maple Plaza in Uptown Dallas. The plaza consists of three three-story class A buildings and is located across from the city\u2019s Crescent Hotel. The firm plans to continue common-area improvements started by the property\u2019s former owner, EOP\/Blackstone. Cedar Maple is currently 93 percent leased, with Wells Fargo as the lead tenant.<\/p>\n<p>Holliday Fenoglio Fowler L.P. represented the seller in the Dallas deal. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Granite Properties has made two major office purchases in the last few days: Plaza Tower One in Denver and Cedar Maple Plaza in Dallas.<\/p>\n","protected":false},"author":1201,"featured_media":1004037098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21742,21747,15],"tags":[],"class_list":["post-1004039833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Granite Properties Buys Denver Tower, Dallas Plaza - 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