Historic Brick and Timber Office Building in Denver Trades for $25.8M
Asana Properties, a vertically integrated real estate investment company, has purchased Hardware Block, a 54,125-square-foot, boutique office building located at at 1515 – 1527 Wazee in LoDo, for $25.8 million.
JLL represented the seller, Unico Properties, led by Senior Managing Director Mark Katz, Managing Director Peter Merrion and Senior Director Hilary Barnett, and procured the buyer. Additionally, Asana Partners has engaged JLL Property Management to handle the management of the property.
“Hardware Block is one of Denver’s finest examples of historic brick & timber buildings and was well received by the market,” Merrion noted. “The purchaser is very excited to add this property to their unique Denver portfolio”.
Originally built in 1895, Hardware Block is a brick and timber building offering four stories of creative office space with exposed timber beams, 12-16’ ceiling heights and operable windows to maximize natural light and fresh air. In addition, the property has an elevator-served subterranean parking garage, which is a unique feature for buildings of this vintage. Hardware Blocks is fully leased to two tenants.
The LoDo submarket has maintained the highest levels of leasing activity in Denver’s central business district and provides a wide variety of restaurants, boutique hotels and residential developments alongside marquee destinations such as Coors Field, Dairy Block and Market Station.
Photo courtesy of JLL