DTC office building sells for $62M

Denver office building changes hands for $62 million

The Quadrant office building at 5445 DTC Parkway in Greenwood Village, as seen from Interstate 25. (Google Streetview)

The California State Teachers Retirement System has sold the last of three office buildings it purchased in the Denver Tech Center 16 years ago.

CalSTRS sold the 14-story The Quadrant building at 5445 DTC Parkway in Greenwood Village for $62 million last week, records show.

The buyer was Quadrant Owner LLC, an entity listing a Texas office address that corresponds to that of C-III Capital Partners. An executive with the firm did not respond to a request for comment.

Tenants at The Quadrant include Rimrock Oil & Gas and coworking firm Regus, which has leased the 17,658-square-foot top floor since 2016, according to CoStar.

The Quadrant was purchased by CalSTRS for $63.5 million in December 2006, records show. The system purchased two other Greenwood Village buildings at the same time: the Millennium Plaza building at 6200 S. Quebec St. and The Terrace building at 5575 DTC Parkway.

Records show CalSTRS sold The Terrace in 2014, and Millennium Plaza in 2018.

Other recent sales in the DTC include the One DTC building at 5251 DTC Parkway in Greenwood Village, which changed hands for $56 million in February. Developer John Madden also sold three office buildings in Greenwood Village in December.

Denver office building changes hands for $62 million

The Quadrant office building at 5445 DTC Parkway in Greenwood Village, as seen from Interstate 25. (Google Streetview)

The California State Teachers Retirement System has sold the last of three office buildings it purchased in the Denver Tech Center 16 years ago.

CalSTRS sold the 14-story The Quadrant building at 5445 DTC Parkway in Greenwood Village for $62 million last week, records show.

The buyer was Quadrant Owner LLC, an entity listing a Texas office address that corresponds to that of C-III Capital Partners. An executive with the firm did not respond to a request for comment.

Tenants at The Quadrant include Rimrock Oil & Gas and coworking firm Regus, which has leased the 17,658-square-foot top floor since 2016, according to CoStar.

The Quadrant was purchased by CalSTRS for $63.5 million in December 2006, records show. The system purchased two other Greenwood Village buildings at the same time: the Millennium Plaza building at 6200 S. Quebec St. and The Terrace building at 5575 DTC Parkway.

Records show CalSTRS sold The Terrace in 2014, and Millennium Plaza in 2018.

Other recent sales in the DTC include the One DTC building at 5251 DTC Parkway in Greenwood Village, which changed hands for $56 million in February. Developer John Madden also sold three office buildings in Greenwood Village in December.

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