Larimer Square owner adds to holdings with $5M buy

Denver building and lot sells for $5 million

The building at 1320 15th St. sold for $4.9 million. (Photo courtesy of Pinnacle Real Estate Advisors)

The firm that owns Larimer Square has purchased a building an alley away from the historic block.

Charlotte-based Asana Partners paid $4.9 million last week for the two-story structure at 1320 15th St., according to Pinnacle Real Estate Advisors broker Peter Sengelmann, who represented the seller in the deal.

Asana paid $92 million in late 2020 for all the structures in Larimer Square, which is the 1400 block of Larimer Street. The deal also included a couple parcels in the 1400 block of Market Street.

The 1320 15th St. building adds to the firm’s holdings in the immediate area.

“Asana Partners was the logical buyer,” Sengelmann said.

The building is 10,375 square feet, making the deal worth $474 a square foot. Sengelmann said a bar currently operates on the ground floor, and office space on the second floor is vacant. The structure dates to 1885, and sits on a 0.18-acre lot, according to property records.

The seller — two LLCs listing a Boulder address — paid $2.4 million for the property in February 2012, records show.

An Asana executive didn’t respond to a request for comment. The company also owns the Hardware Block building in the 1500 block of Wazee Street, several properties along Tennyson Street in Berkeley, as well as a pair of office buildings — one old and one new — in LoHi.

Sengelmann worked with colleagues Eric Diesch and Matt McGrath on the deal.

Denver building and lot sells for $5 million

The building at 1320 15th St. sold for $4.9 million. (Photo courtesy of Pinnacle Real Estate Advisors)

“Asana Partners was the logical buyer,” said a broker who represented the seller of a two-story structure and 0.18-acre lot at 1320 15th St.

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