Crescent Real Estate Acquires Riverview at 1700 Platte for $129M

Riverview at 1700 Platte, courtesy of Trammell Crow.

Crescent Real Estate LLC, a Colorado-based leading real estate investment and operating company, has purchased Riverview at 1700 Platte for $129.1 million, according to property records. 

Developed by Trammell Crow and Clarion Partners in 2018, the 213,713-square-foot Class A office building with LEED Platinum Certification has easy access to I-25 from both the north and south and easy pedestrian access to downtown and Denver Union Station. The design of Riverview at 1700 Platte provides tenants with a historical Platte Street façade, all-glass curtainwall facing the views to the east, and LEED® certification for sustainability. No other building in Denver provides this mix of character, unique location, efficiency and natural elements.

Tim Richey, Jenny Knowlton, Charley Will, Chad Flynn and Alex Mulvihill with CBRE represented the seller in the transaction, an LLC affiliated with Houston-based Lionstone Investments.

BPX Energy formally opened its 160,000-square-foot headquarters at 1700 Platte In September 2018.

According to Trammell Crow’s website, the building’s on-site amenities include 338 parking spaces (1.67/1,000 RSF), 200 secure indoor bike spaces, a spacious light-filled fitness center overlooking the River, and an auditorium-style staircase in the main lobby which can be used for both company events and an alternative workspace for tenants. 

In other news…

This month, Crescent Real Estate also acquired 16 buildings across three portfolios in the Boulder market. The purchase includes one portfolio in Flatiron Park North, another in Highpoint, and a third in Tierra. This move marks Crescent Real Estate’s re-entry into the Boulder market following the sale of Flatiron Park.

“We are thrilled to be back in the Boulder market and look forward to serving the community with our innovative and cutting-edge creative work environments,” said Ben Molk, senior vice president at Crescent Real Estate.

Becky Gamble, CEO of the brokerage Dean Callan & Co., will be leading the leasing efforts for Crescent Real Estate in Boulder.

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