Invesco Purchases 1515 Wynkoop Office Building in Downtown Denver
- Mar 19, 2015
American Realty Advisors has recently sold 1515 Wynkoop, an award-winning office building in Denver’s Lower Downtown neighborhood. According to the Denver Business Journal, the eight-story, 306,791-square-foot building was acquired by Dallas-based Invesco Real Estate at an undisclosed price.
The Class AA, LEED Gold certified office building is conveniently located adjacent to the newly redeveloped Union Station and the 16th St. Mall, and is 100 percent leased. Tenants include law firm Polsinelli, Maximus, and Black Hills Corp.
“The sale of this property was timed to allow us to take advantage of record high investor demand prior to the anticipated delivery of new office construction in the market over the next 24 to 36 months,” said Stanley Iezman, chairman and CEO of American Realty Advisors in a statement.
Completed in 2009, 1515 Wynkoop was designed by Washington, D.C.-based Hartman Cox Architects and developed by Hines. The building earned multiple awards, including the 2013 BOMA TOBY for Building of the Year in Denver, the 2013 Most Efficient Energy Building in Denver, and the 2011 Xcel Energy Efficiency Partner award. 1515 Wynkoop was also awarded an Energy Star rating of 95. The building features full-height windows, nearly 30,000 square feet of retail space, more than 10,000 square feet of outdoor terrace space, and 415 below-grade parking spaces.
A CBRE team consisting of Geoff Baukol and Kevin Shannon represented American Realty Advisors in the transaction. Invesco Real Estate also owns 1800 Larimer in the city, a LEED Platinum certified building it acquired in 2011.
Image courtesy of McCory James Photography