Historic Denver Office Asset Trades for Third Time in Seven Years
The Wheeler Block Building, a designated historic landmark in Denver, has sold to AP Wheeler Block, LLC for $13.5 million. The 33,125-square-foot multi-tenant boutique office building in Denver’s LoHi neighborhood was approximately 98 percent leased at the time of sale.
The seller was Wheeler Block Investments, LLC, represented in the transaction by Jon Hendrickson and Aaron Johnson with Cushman & Wakefield.
“This transaction marks the third time in seven years our team has brokered the sale of the Wheeler Block Building — each and every time the submarket has strengthened and the building has continued to stand out with its historic charm and unique attributes,” said Hendrickson, managing director.
Located at 2150 West 29th Avenue, the Wheeler Block Building was originally built in 1892 but has undergone many renovations, most recently in the 1980s and 2008. The property combines historic architecture with a modern contemporary atmosphere. The building is walkable to nearby amenities and parks and offers views of downtown and the metro area. It is also easily accessible to I-25 and proximate to Denver Union Station.
Hendrickson continued, “The Wheeler Block Building is an irreplaceable neighborhood office building in a premier Denver neighborhood. The pedestrian bridge across I-25 was installed in 2006, linking Lower Highlands to Platte Street, Riverfront Park, and LoDo. Residential demand for LoHi, and surrounding commerce, has never looked back in the last 15 years.”