A drone photo of downtown Denver in 2020. (BusinessDen file)
The value of the 52-story Wells Fargo Center office building in downtown Denver fell nearly 20% over two years, according to the county assessor, but some nearby large towers ticked upward.
In the hospitality sector, downtown’s largest hotel lost nearly a quarter of its value, while the nearby Brown Palace surged 60%.
On the whole, it was largely a mixed assessment cycle for Denver’s most prominent properties.
BusinessDen requested the newly released 2025 valuations for the city’s 10 priciest office properties, as well as the five priciest properties from each of the hospitality, retail and multifamily sectors, to compare with their 2023 figures.
The results capture notable spots like the Cherry Creek Shopping Center (up sharply), Denver Pavilions mall (down marginally) and Country Club Towers apartment complex near Wash Park (down sharply).
Each category had properties that both increased and decreased — with the exception of the multifamily sector, where all five priciest properties saw decreases.
Colorado county assessors value properties every two years, with new valuations released in the spring of odd years. The latest ones reflect transactions and market conditions within a specific window: July 2022 through June 2024.
That’s key to keep in mind when looking at the valuation of the 1900 Lawrence office tower, for instance, which wasn’t completed until later last year.
The 2025 valuations could change. Owners have until June 9 to appeal their latest valuations, and those appeals could take months or years — in fact, some appeals from 2023 valuations are ongoing. Commercial property owners in particular often appeal.
A drone photo of downtown Denver in 2020. (BusinessDen file)
The value of the 52-story Wells Fargo Center office building in downtown Denver fell nearly 20% over two years, according to the county assessor, but some nearby large towers ticked upward.
In the hospitality sector, downtown’s largest hotel lost nearly a quarter of its value, while the nearby Brown Palace surged 60%.
On the whole, it was largely a mixed assessment cycle for Denver’s most prominent properties.
BusinessDen requested the newly released 2025 valuations for the city’s 10 priciest office properties, as well as the five priciest properties from each of the hospitality, retail and multifamily sectors, to compare with their 2023 figures.
The results capture notable spots like the Cherry Creek Shopping Center (up sharply), Denver Pavilions mall (down marginally) and Country Club Towers apartment complex near Wash Park (down sharply).
Each category had properties that both increased and decreased — with the exception of the multifamily sector, where all five priciest properties saw decreases.
Colorado county assessors value properties every two years, with new valuations released in the spring of odd years. The latest ones reflect transactions and market conditions within a specific window: July 2022 through June 2024.
That’s key to keep in mind when looking at the valuation of the 1900 Lawrence office tower, for instance, which wasn’t completed until later last year.
The 2025 valuations could change. Owners have until June 9 to appeal their latest valuations, and those appeals could take months or years — in fact, some appeals from 2023 valuations are ongoing. Commercial property owners in particular often appeal.
