The two-story building at 1414 Market St. sold for $2.6 million. (BusinessDen file images)
The owner of Larimer Square has purchased another building that backs up to it.
Charlotte-based Asana Partners paid $2.6 million on Tuesday for the two-story building at 1414-1416 Market St., according to public records. The building is 4,894 square feet, making the deal worth $531 a square foot.
An Asana executive declined to comment. The building is slated to become home to Eden, which co-owner Josh Schmitz described Wednesday as a “high-end South American tapas restaurant.” Schmitz, of Denver restaurant group Handsome Boys Hospitality, is opening the restaurant with El Chingon owner Lorenzo Nunez Jr.
The company purchased the building from Denver-based developer Urban Villages, which bought it in 2019 for $2.5 million. At the time, Urban Villages was working with Larimer Square’s then-owner Jeff Hermanson on plans to redevelop the historic block.
In late 2020, however, Hermanson opted to instead sell Larimer Square to Asana Partners, which paid $92 million for all the structures in the 1400 block of Larimer Street and a couple structures in the 1400 block of Market Street.
A rendering submitted to Denver’s Landmark Preservation Commission details proposed changes to the building Asana owns at 1416 Larimer St.
This isn’t the first time Asana has added to its holdings around Larimer Square since the original 2020 deal. In July, the company paid $4.9 million for the two-story structure at 1320 15th St.
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.
Asana is eyeing some changes along Larimer Square. In materials presented last month to Denver’s Landmark Preservation Commission, company representatives wrote of a desire to increase the visibility of courtyards that exist behind some of the buildings along Larimer Square.
“During our investigation process, we evaluated how these courtyards were used. Unfortunately, most visitors were timid about entering and unsure about the uses and whether they were actually open to the public,” the materials read.
Asana’s representatives also noted that the upper floors of most Larimer Square buildings are used as office space, but said that space could be better configured.
“In many cases throughout Larimer Square, however, the existing office floors are partitioned into small, individual tenants,” the materials read. “Companies primarily are looking for large, flexible, and open work environments. Creating desirable office lease space that meets this expectation ensures a higher occupancy that contributes to the block’s activation.”
- • Lily O’Neill contributed to this report.
The two-story building at 1414 Market St. sold for $2.6 million. (BusinessDen file images)
The owner of Larimer Square has purchased another building that backs up to it.
Charlotte-based Asana Partners paid $2.6 million on Tuesday for the two-story building at 1414-1416 Market St., according to public records. The building is 4,894 square feet, making the deal worth $531 a square foot.
An Asana executive declined to comment. The building is slated to become home to Eden, which co-owner Josh Schmitz described Wednesday as a “high-end South American tapas restaurant.” Schmitz, of Denver restaurant group Handsome Boys Hospitality, is opening the restaurant with El Chingon owner Lorenzo Nunez Jr.
The company purchased the building from Denver-based developer Urban Villages, which bought it in 2019 for $2.5 million. At the time, Urban Villages was working with Larimer Square’s then-owner Jeff Hermanson on plans to redevelop the historic block.
In late 2020, however, Hermanson opted to instead sell Larimer Square to Asana Partners, which paid $92 million for all the structures in the 1400 block of Larimer Street and a couple structures in the 1400 block of Market Street.
A rendering submitted to Denver’s Landmark Preservation Commission details proposed changes to the building Asana owns at 1416 Larimer St.
This isn’t the first time Asana has added to its holdings around Larimer Square since the original 2020 deal. In July, the company paid $4.9 million for the two-story structure at 1320 15th St.
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.
Asana is eyeing some changes along Larimer Square. In materials presented last month to Denver’s Landmark Preservation Commission, company representatives wrote of a desire to increase the visibility of courtyards that exist behind some of the buildings along Larimer Square.
“During our investigation process, we evaluated how these courtyards were used. Unfortunately, most visitors were timid about entering and unsure about the uses and whether they were actually open to the public,” the materials read.
Asana’s representatives also noted that the upper floors of most Larimer Square buildings are used as office space, but said that space could be better configured.
“In many cases throughout Larimer Square, however, the existing office floors are partitioned into small, individual tenants,” the materials read. “Companies primarily are looking for large, flexible, and open work environments. Creating desirable office lease space that meets this expectation ensures a higher occupancy that contributes to the block’s activation.”
- • Lily O’Neill contributed to this report.
