1601 Wewatta in Downtown Denver Sells for $222M
DENVER — 1601 Wewatta., a 300,000-square-foot office building in Denver’s Union Station neighborhood has sold for $222 million, according to Denver County public records.
The sale is the third highest in the Denver metro for 2018, behind 1801 California St.’s partial sale for $285 million and 1670 Broadway’s sale for $238 million.
Mike Winn, Tim Richey, Chad Flynn, Jenny Knowlton, and Charley Will of CBRE Capital Markets, Institutional Properties recently represented Hines, the international real estate firm, Jordon Perlmutter & Co. and institutional investors advised by J.P. Morgan Asset Management in the sale.
1601 Wewatta is a rare, iconic, state-of-the-art, and recently constructed Union Station office asset. 97 percent leased at the time of the sale, 1601 Wewatta provides an extremely stable and long-term revenue stream.
Constructed in 2015 with cutting edge architecture and building systems, 1601 Wewatta is one of the newest and most exciting office assets in Denver. The property is situated in the heart of Union Station, just steps from every form of public transportation Denver has to offer.
Additionally, nearby developments including new hotels, restaurants, and high-end apartments make 1601 Wewatta one of the most walkable and desirable locations in the Western U.S. Additional features of this trophy asset include Union Station’s best lobby, an outdoor plaza, 1.33/1,000 square feet parking, balconies, creative office buildouts, Denver’s premier health club, ground-floor retail, 10’ finished ceilings, and LEED Gold certification. Located in the heart of one of the nation’s most desired office markets, 1601 Wewatta is a truly irreplaceable investment.
Photo courtesy of Havey Productions