Uptown office complex sells for $29M

capitalcenter

The Capitol Center, a two building office complex at 16th Avenue and Grant Street, sold last week for $28.9 million. Photo by Thomas Gounley.

An Uptown office complex has sold for $28.9 million.

Capitol Center Property LLC purchased the Capitol Center on Wednesday, according to county records. The entity lists an office address that matches the Long Beach, California headquarters of Harbor Associates.

The Capitol Center consists of a 12-story, 131,291-square-foot building at 225 E. 16th Ave., and an adjacent two-story, 22,857-square-foot building at 1600 Sherman St. That makes Wednesday’s sale worth $187 a square foot.

Office tenants include nonprofits Colorado Health Care Association and Energy Outreach Colorado, and language school BridgeLanguages. The complex also includes a two-story parking garage.

The property was sold by Capitol Center II LLC, a joint venture between New York-based Empire Square Group and California-based SteelWave. Empire Square Group purchased the property in April 2011 for $22.2 million and entered into the joint venture with SteelWave in May 2017, according to records.

A Harbor Associates executive did not respond to a request for comment. The firm said on its website that it looks for commercial properties in need of renovations, and typically holds assets for between two and five years.

Harbor, which focuses on the southwestern United States, entered the Denver market last fall when it paid $17.64 million for the nine-story office building at 821 17th St. 

capitalcenter

The Capitol Center, a two building office complex at…

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