Unico buys in LoDo

The Elephant Corral building was scooped up by a Washington buyer. Photos by Burl Rolett.

The Elephant Corral building was scooped up by a Washington buyer. Photos by Burl Rolett.

Tally another $20 million of LoDo office space for a Seattle-based firm on a Denver buying spree.

Unico Properties bought the Elephant Corral building at 1444 Wazee St. this week for $13 million. The firm also nabbed two small parking lots and a cluster of Wazee Street condos for another $9.5 million.

The deal included surface lots on either side of the street at 1406 and1401 Wazee St.; three condominium units at 1435 Wazee St.; and residential and commercial condos at 1408 Wazee St.

The Elephant Corral building has about 57,200 square feet of office space, according to Denver city property records. The pair of parking lots at the very end of Wazee Street backing up to Cherry Creek totaled about 0.42 acres.

Unico bought the property from Pennsylvania-based Stoltz Real Estate Partners, which paid $17 million for the same real estate in January 2015. That figures to 17 percent gain over a year.

Both Unico and Stoltz have gobbled up Denver properties left and right over the last year. Stoltz picked up 155 S. Madison St. in Cherry Creek for $11.45 million and 1714 Blake St. for $17.9 million.

Unico’s 2015 acquisitions included an office building at 1430 Wynkoop St. for $21 million; the Denver Club building on 17th Street for $30 million; and a cluster of Cherry Creek buildings at Second and Josephine for $42 million.

Unico has made significant upgrades to another building it owns at 1660 Lincoln St. over the last year and had a slate of renovations planned for the Denver Club Building.

The Elephant Corral building was scooped up by a Washington buyer. Photos by Burl Rolett.

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