{"id":1004165126,"date":"2017-01-26T02:27:19","date_gmt":"2017-01-26T10:27:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165126"},"modified":"2022-12-08T23:58:57","modified_gmt":"2022-12-09T07:58:57","slug":"denver-office-building-commands-170m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/denver-office-building-commands-170m\/","title":{"rendered":"Denver Office Building Commands $170M"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

Denver<\/strong>\u2014A joint venture between Goldman, Sachs & Co. and Pearlmark has acquired 1125 17th St., a 492,799-square-foot, Class A office tower in Denver\u2019s central business district for $169.7 million.<\/p>\n

\"1125<\/a>

1125 17th St. in Denver<\/p><\/div>\n

HFF has arranged $93.5 million in acquisition financing for the buyers, securing a four-year, floating-rate loan through Bank of America.<\/p>\n

The sale also included a 1.5-acre development parcel located along Lawrence Street between 17th and 18th streets.<\/p>\n

According to JLL\u2019s 4Q Denver Office Marker Report, despite a flat office market, the Denver economy is thriving.<\/p>\n

\u201cA more economically-diverse region will measure closer to the U.S. average of 1.0 while a value closer to 0.0 indicates a much less diverse economy,\u201d the report read. \u201cDenver\u2019s diversity score of 0.81 outranks many considerably larger cities and has increased by 0.14 since April 2005. Denver has broadened and diversified its economy, which has multiplied the avenues of growth for the region.\u201d<\/p>\n

At the time of the sale, the building was 85.2 percent leased to JP Morgan Chase & Co. and Halliburton, among others. Recently renovated, the trophy asset offers tenants on-site amenities such as a fitness club, juice and smoothie bar, basketball and bocce courts and underground parking.<\/p>\n

The LEED Silver-certified property features unobstructed 360-degree mountain views and 20,000-square-foot floorplates.<\/p>\n

The building occupies an entire city block on the corner of 17th and Lawrence streets at the convergence of Denver\u2019s central business district and Lower Downtown. The property offers immediate access to Denver\u2019s major demand drivers, including the 16th Street Mall, Union Station and multiple public transportation routes.<\/p>\n

Image courtesy of Yardi Matrix <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A new owner has emerged for the 25-story downtown tower at 1125 17th St. <\/p>\n","protected":false},"author":451,"featured_media":1004165127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1587,21808,21825,21783,21742,21747,15],"tags":[33435,32792,32796,33645],"class_list":["post-1004165126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-denver","category-featured","category-finance","category-investment","category-latest","category-office","category-west","tag-goldman-sachs","tag-hff","tag-jll","tag-pearlmark"],"acf":[],"yoast_head":"\nDenver Office Building Commands $170M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/denver-office-building-commands-170m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Office Building Commands $170M\" \/>\n<meta property=\"og:description\" content=\"A new owner has emerged for the 25-story downtown tower at 1125 17th St.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/denver-office-building-commands-170m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-26T10:27:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:58:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/1125-17th-St.-in-Denver.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"532\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-office-building-commands-170m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/denver-office-building-commands-170m\/\",\"name\":\"Denver Office Building Commands $170M - 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