Cherry Creek office building sells for $33M

The building at 3200 E. Cherry Creek South Drive sold for $33 million. (Thomas Gounley)

An office building on the outskirts of Cherry Creek has sold for less than it did in 2017.

CACP Citadel LLC purchased the seven-story The Citadel building at 3200 E. Cherry Creek South Drive on Wednesday for $33 million, according to public records.

The purchasing entity is affiliated with Matador Equity Partners, a California-based firm that purchased the Elevate office building in Glendale last year for $35.75 million.

Matador manager Brad Cummings did not respond to a request for comment.

The property was sold by Denver-based Amstar, which purchased the building in June 2017 for $37.03 million, records show. The company did not respond to a request for comment.

The building is 130,652 square feet, according to property records, making this week’s deal worth $253 a square foot. The structure dates to 1987.

Tenants at the building include New York Life Insurance Co., Bessemer Trust and Benson Orthodontics.