Office building next to Denver Art Museum sells for $17M

glass building

The glass office building at 1221 N. Broadway in Denver sold for $17 million. (Thomas Gounley)

The developer of a new hotel and office building next to the Denver Art Museum has offloaded half of it.

Corporex, a Kentucky-based company with an office in Englewood, sold the three-story glass office building at 1221 N. Broadway last week for $17.1 million, according to property records.

The 52,000-square-foot building, constructed in 2015, sits in front of the ART, a six-story, 165-room hotel built by Corporex. The company, which did not respond to a request for comment, continues to own the hotel building.

The office building was purchased by Ever Beauty LLC, with a 95 percent interest, and NCP 1221 Broadway LLC, with a 5 percent interest, according to the warranty deed.

The latter LLC is affiliated with Denver-based real estate firm Northstar Commercial Partners, which said in a news release Friday that it had purchased the property. Chairman and CEO Brian Watson did not respond to a request for comment.

In state records, Ever Beauty LLC lists residential properties in Florida and California as its office and mailing addresses. The manager is Yang Song, according to documents filed in connection with the sale. A Florida attorney who helped register the company did not respond to a request for comment.

Northstar said in the release that the 52,000-square-foot building is fully leased to software company Four Winds Interactive.

The purchase is a departure from Northstar’s typical acquisition strategy – the firm says it specializes in buying vacant and distressed properties. Northstar’s current portfolio includes 48 assets, totaling 8 million square feet in 16 states.

glass building

The glass office building at 1221 N. Broadway in Denver sold for $17 million. (Thomas Gounley)

The Kentucky-based developer of a new hotel and office complex on North Broadway has offloaded half of it.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more information, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

23752

Leave a Reply

Your email address will not be published.