Office sale near Union Station sets record for price per square foot

The office and parking portion of Union Tower West, the 12-story building at 1801 Wewatta St. in Denver, sold for $69 million. (Jim Harvey)

A portion of a new 12-story building next to Union Station has sold, setting a record high for the sale of Denver office space on a square-footage basis.

Invesco Real Estate purchased the office and parking portions of Union Tower West on Oct. 19 for $69 million, according to county records.

CBRE brokers Mike Winn, Tim Richey, Chad Flynn, Jenny Knowlton and Charley Will represented seller Portman Holdings. The building was completed last year.

CBRE said the sale involved 100,778 square feet of office space, making the deal worth $684.67 a square foot.

That tops the $676 per-square-foot mark set in May 2017, when the 227,000-square-foot Triangle Building at 1550 Wewatta St. in LoDo sold for $154 million.

The December 2017 sale of the 22-story office building at 1401 Lawrence St. also is believed to have been in record territory, but the deal was structured in such a way that the sale price never appeared in public records.

Tenants in the office space include law firms Husch Blackwell and Barlit Beck Herman Palenchar & Scott.

Union Tower West’s office space is on floors nine through 12, according to a leasing brochure.

The sale did not include the space used by Hotel Indigo and its affiliated restaurant space, according to CBRE. Hotel Indigo’s 180 rooms are on floors five through eight.

The office and parking portion of Union Tower West, the 12-story building at 1801 Wewatta St. in…

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