Cherry Creek office building sells for $26M

101 University Blvd.

The office building at 101 University Blvd. in Denver sold for $26 million. (Thomas Gounley)

An office building at the edge of Cherry Creek has sold for more than triple what it fetched eight years ago.

MDC Realty Advisors purchased the four-story building at 101 University Blvd. last week for $26 million, according to public records. The firm did not respond to a request for comment.

The building, which dates to 1970, was sold by Denver-based Western Development Group, which purchased it in May 2011 for $7.73 million, records show. At the time, the building was less than half full, according to the Colorado Real Estate Journal. Western subsequently renovated the structure.

An executive with Western did not respond to a request for comment.

Building tenants include Fidelity Investments, Key Private Bank and Trilogy Financial.

Buyer MDC’s local holdings include the 22-story office building at 1700 Broadway and the 20-story office building at 1600 Stout St., according to the company’s website. The firm doesn’t own anything else in Cherry Creek.

Western, meanwhile, still owns the office buildings at 200 Columbine St. and 200 Fillmore St. in Cherry Creek. In June, the firm sold the 0.44-acre parking lot at 235 Fillmore St. to Denver-based BMC Investments. And in late August, the company sold a site in the 100 block of Madison Street to a multifamily developer for $10.5 million.

101 University Blvd.

The office building at 101 University Blvd. in Denver sold for $26 million. (Thomas Gounley)

That’s more than triple what Western Development Group paid for it in 2011.

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