Two LoDo office towers sell for $189 million

The office towers at 1331, left, and 1401 17th St., right, sold for a combined $189 million. (Thomas Gounley)

A California-based company has purchased a pair of office towers in LoDo for a combined $189 million.

Los Angeles-based CIM Group purchased 1331 and 1401 17th St. last week, according to property records. The structures are known as LoDo Towers.

Bank of America provided financing for the deal, according to records. CIM Group did not respond to a request for comment.

The company paid $103 million, or $471 per square foot, for 1331 17th St., which comprises 219,000 square feet across 13 stories. Tenants include Guaranty Bank, software company CommercialTribe and the Turing School of Software and Design.

CIM paid $86 million, or $450 per square foot, for 1401 17th St., which comprises 191,000 square feet across 16 stories. Tenants include McDivitt Law Firm, Concord Energy and Laramie Energy.

The structures date to the early 1980s, according to city records. Both sit on 1.15-acre parcels.

The properties were sold by Zeller Realty Group, which paid $70 million for 1331 17th St. in March 2013, and $75.2 million for 1401 17th St. in January 2015, according to records. Zeller did not respond to a request for comment.

CIM Group is one of two firms behind the redevelopment of the former University of Colorado hospital site along Colorado Boulevard. It is partnering with Denver-based Continuum Partners on the project.

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