Historic Mixed-Use Building in Ballpark Neighborhood Sells for $6.4M
A 129-year-old mixed-use, three level building, located at 1925 Blake Street in LoDo has sold for $6.425 million, or $418 per square foot.
Keith Webb, of Webb Properties LLC sold the 15,375-square-foot building, anchored by 1UP Arcade Bar, to JHB Properties LLC and WSJ Associates, according to public records. Jon D. Hendrickson and Aaron D. Johnson, managing directors, of Cushman & Wakefield Denver’s Capital Markets Group, facilitated the transaction.
“1925 Blake Street has been a relevant location and building since it’s construction in the late 1800’s, but the location only continues to improve. Coors Field has a new 30-year lease which anchors the submarket, and transformative developments such as McGregor Square, Dairy Block, Market Station, and Union Station provide enormous stability and value drivers for years to come,” said Hendrickson.
Located a half block from Coors Field, 1925 Blake Street has brick and timber architecture that features high ceilings, natural lighting, exposed brick and heavy timber columns. Originally constructed in 1890 as a warehouse, then renovated into an office building in 1934, 1925 Blake Street perfectly embodies the historic architecture seen throughout Lower Downtown (LoDo). The building is currently 100 percent leased to four tenants.