A Cherry Creek office building has sold, along with the retail space on the ground floor of the condominium building next door.
GPIF Columbine LLC, an entity affiliated with Texas-based Crescent Real Estate, paid $82.75 million last week for the eight-story building at 200 Columbine St. and the retail space in the 250 Columbine complex, according to public records.
The real estate was sold by Denver-based Western Development Group, which developed the buildings spanning the entire east side of the block at the same time. Property records indicate they were completed in 2015.
Western and Crescent did not respond to separate requests for comment.
The office building includes about 90,000 square feet of office space and 10,000 square feet of ground-floor retail space, according to Western’s website. The retail space in the condo building adds another approximately 20,000 square feet.
Office tenants include Compass and Cambiar Investors. Retail tenants include Peter Millar, Gnat Jewelers, Sol Mexican Cantina and Evereve.
The sale is the first for Western in Cherry Creek since something of a selling spree in 2019. That year, the company sold the four-story office building at 101 University Blvd. for $26 million, a half-acre parking lot at 235 Fillmore St. for $12 million and a 0.75-acre site at the southeast corner of Madison Street and 2nd Avenue for $10.5 million.
Western still owns the four-story office building at 200 Fillmore St. as well as the retail space within The Shops at NorthCreek.
Crescent, meanwhile, recently completed the Platte Fifteen office building at 2373 15th St., home to tenants that include Robinhood, EF Education First and Fjallraven. The company has said it plans to add a sizable expansion to its nearby Riverpoint building at 2300 15th St., but it has yet to break ground.