Boston Player Snaps Up Downtown Wells Fargo Building
Boston-based Beacon Capital Partners has purchased 1740 North Broadway in downtown Denver for $7.15M, the company confirmed via email.
The building was sold by Wells Fargo. Beacon already owns 1700 Broadway, which is the Wells Fargo Center in downtown Denver. Wells Fargo has submitted plans for 1701 Lincoln St., which the Denver Business Journal reported will be its new, smaller location.
Beacon Capital Partners has several Denver properties, including The Hub, Tabor Center and 169 Inverness in Englewood. The Hub’s tenants include WeWork and HomeAdvisor. Tabor Center includes Gusto and WeWork. The second phase of The Hub’s construction, called the Hub North, is expected to finish before summer 2020.
In January of this year, Bisnow reported that Beacon Capital Partners and its partner refinanced a Seattle office property for $240M. Beacon Capital Partners was also involved in a number of the previous decade’s top office sales, including an $845M Boston deal in 2018 and a Houston deal for $415M.