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Novel Coworking Buys Trinity Place

The 17-story Trinity Place has average floor plates of 12,200 SF

Novel Coworking has purchased a second building in Denver.

The Chicago-based company, which already operates at 1630 Welton St., recently purchased Trinity Place, a 195,753 SF building at 1801 Broadway in Denver’s central business district, from Velocis in a deal valued at $40.2M. HFF represented both parties.

The 17-story building has average floor plates of 12,200 SF and is currently 65% leased. The vacancy in the building was a selling point for Novel, which will convert that space to coworking.

“Trinity Place was a very active marketing process with tremendous interest from real estate investors,” HFF Senior Director Peter Merrion said. “The property’s boutique, value-add profile and dynamic Uptown location had a wide appeal. We are excited to see the new owner continue to drive value and create a new experience in the Denver market.”