Downtown Denver Office Signs 66K SF Of New Leases: The Denver Deal Sheet
Tenants have signed 66K SF of new leases at 1125 17th St. so far in 2025, pushing occupancy past 80% following a $25M renovation, according to owner Hines.
New tenants include Guzman Energy, which expanded to occupy 21K SF on a full floor; Kurtz Fargo, leasing 7K SF; an unnamed tech firm that took 28K SF; and multiple law firms that signed for a combined 27K SF.
The leasing momentum comes alongside the late-April opening of HashTAG, a new rooftop brunch spot from chef Troy Guard. The property’s refresh includes a new lobby, wellness center, tenant lounge, upgraded boardroom and collaboration areas, and an outdoor terrace with a 150-foot mural by Magik Studios.
The announcement stands out in a challenging office market. Availability in downtown Denver hit 39.9% in the second quarter, with the central business district reaching 41.8%, the highest in the metro, according to Savills’ just-released Q2 office report.
PEOPLE
Daniel Eidson has been promoted to senior managing director at Concord Summit Capital’s Denver office. Since joining in 2022, he’s helped close more than $4B in transactions nationally.
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CBRE added Taylor Stamp, Andy Oyler, Justin Burns and Wendy Schrage to its Colorado Springs office. The team joins from local firm Quantum Commercial Group and will focus on office, industrial and retail leasing and sales. Oyler and Stamp join as vice presidents, while Burns joins as associate and Schrage provides team support.
SALES
DRG Property purchased a 3,496 SF freestanding retail building at 4115 E. Colfax Ave. for $2.6M. Charles Nusbaum of Antonoff & Co. Brokerage represented the buyer, while Jeffrey Hirschfeld, also with Antonoff, represented the seller, G.Ramps LLC.
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Unique Properties closed three transactions across the Denver metro in recent weeks. In Arvada, a 15K SF warehouse at 5540 Gray St. sold for $2.6M. The mostly vacant building includes five units and will be partially occupied by the buyer.
In Denver, a multitenant retail property at 2024 E. Colfax Ave. sold for $1.6M. The Unique team said the deal involved legacy ownership, a cannabis tenant and a buyer that initially intended to purchase only one tenant’s business.
And in Greenwood Village, a 5-office condo unit at 8000 E. Prentice Ave. sold for $290K, which brokers called a “sign of life” in the suburban office market.
FINANCING
Denver-based Bow River Capital has sold Progressive Roofing to Florida-based TopBuild Corp. in an all-cash transaction valued at $810M. Progressive, headquartered in Phoenix, grew to 1,700 employees and completed three acquisitions during Bow River’s four-year ownership. The company provides commercial roofing services across sectors including education, healthcare and government.
CONSTRUCTION & DEVELOPMENT
A 204-unit affordable housing complex called High Point has been proposed for 6850 N. Argonne St. just southwest of Denver International Airport, the Denver Business Journal reports. The development, led by California-based Chelsea Investment Corp., would include seven three-story walk-up buildings and a clubhouse with community amenities. All units would be income-restricted, though levels weren’t specified. The project sits on land owned by former McWhinney CEO Ray Pittman, who has held a stake in the site on and off since 2003.
THIS AND THAT
A new report from Clever Real Estate found that since 2009, home values in states with legal recreational cannabis have increased by $66K more on average than those in nonrecreational states. As of 2024, the typical home in a recreational state was worth $447K — about 39% more than in states without legal weed. Colorado saw one of the largest jumps, with median home values rising $337K since 2009 — from $231K to $568K.
