A Denver commercial real estate firm has bought the Offices at the Art building on Broadway for $17.1 million.

Northstar Commercial Partners said it bought the 52,000-square-foot, three-story building at 1221 Broadway at the Denver Art Museum complex.

The building is fully leased by communications software company Four Winds Interactive. The Denver Business Journal profiled the company in May 2016.

“This will be one of the top acquisitions in the Denver market for newer office space and we’re thrilled to be involved, especially with Denver as our hometown,” said Brian Watson, chairman and CEO of Northstar, in a statement.

Watson is also running for state treasurer of Colorado; a race that has already attracted a bevy of candidates.

“We are drawn to the iconic nature of this beautiful building in the Denver Art Museum Complex, its attractiveness as a fully-leased asset for a longer term hold, and we see additional positive opportunity being the ones to own it locally,” Watson added.

2017 Largest Commercial Real Estate Brokerages by Dollar Volume of Sales

Ranked by Total dollar amount of sales brokered in the Denver area in 2016

Rank Business name Total dollar amount of sales brokered in the Denver area in 2016 1 Newmark Knight Frank/ARA, A Newmark Co. $2.31 billion 2 HFF LP $2.13 billion 3 Marcus & Millichap $1.18 billion View This List

Source Article

Leave a Reply

Your email address will not be published. Required fields are marked *