Office building near 16th St. Mall sells for $5.3 million

1641 california st

The office building at 1641 California St. sold for $5.3 million. (Thomas Gounley)

A three-story office building half a block from the 16th Street Mall has changed hands.

J&G 1641 LLC purchased 1641 California St. last week for $5.3 million, according to property records.

Craig Rathbun of Fleisher Real Estate represented the buyer.

Rathbun said the LLC members own investment properties in Vail and New York City. The company was registered by Vail resident Gregg Orlinsky, according to state records.

“They were simply looking for a long-term asset,” Rathbun said, adding future acquisitions in Denver are likely.

The building on 0.14 acres is 19,600 square feet, according to city records. The property is between a nine-story parking garage and the 24-story office tower at 700 17th St.

In addition to the three floors of offices, the structure has retail space on a lower level. Tenants include Miller & Associates Law Offices, fitness studio Fluid Fusion and optometrist Dr. Raul Alderete.

Riki Hashimoto and Dan Grooters of Newmark Knight Frank represented the seller, 1641 California LLC.

That company, registered by Nate Schnabel of NAS Properties, purchased the site in June 2013 for $3.1 million, according to city records.

Hashimoto said the seller revitalized the asset, replacing “’70s vintage office furnishings” with a modern “brick-and-timber feel,” and bringing it to 100 percent occupancy.

1641 california st

The office building at 1641 California St. sold for $5.3 million. (Thomas Gounley)

New owners have acquired the three-story office and retail property on California Street as a long-term investment.

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