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Lenders are eyeing two downtown Denver buildings for foreclosure following the exit of prominent tenants, the Denver Business Journal reported.
One building, 410 17th Street, was purchased in 2019 for $127.25M and was 35% occupied at the end of August. The other building, 1801 Broadway, was bought for $40.1M in 2019 and was just 62% occupied at the end of the first quarter, DBJ reported.
"We are working collaboratively with our lender and remain focused on ensuring that building users remain unaffected," an 1801 Broadway spokesperson told the publication.
PEOPLE
Denver’s former chief housing officer, Laura Brudzynski, joined Archway Communities as the company’s chief operating officer. She is the second person to ever serve in the role.
SALES
Commercial real estate investor and developer Comunale Properties purchased a fully leased, multitenant industrial building at 1870 West 64th Lane in Denver for an undisclosed sum. Brandon Kramer of Marcus & Millichap represented the property seller, Manhattan Fund XXI LLC.
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NorthPeak Commercial Advisors brokered the sale of 758 North Clarkson St. in Denver for $5M. The 17-unit multifamily property carries a 5.26% cap rate, according to a press release. NorthPeak’s Greg Johnson and Conner Piretti worked with the seller in this transaction.
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Urban Frontier purchased a one-story structure at 1101 Washington Ave. in Denver for $3.2M. The company plans to demolish the building to make way for a mixed-use project with ground-floor retail space and residential units on the second floor, the Denver Business Journal reported.
LEASES
Carbon capture company Vault 44.01 leased more than 8K SF of office space at 1125 17th St. in Denver. JLL’s Shayda Shah-Hosseini and Janessa Biller represented the tenant, while CBRE’s Sarajane Goodfellow, Chris Phenicie and Allison Berry represented the landlord and owner, Hines Construction.
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