Dallas-based L&B Realty Acquisitions, LLC has purchased the historic Union Pacific Building at Coors Field in downtown Denver for $25.5 million.
Located outside the third base gate of Coors Field, the 36,441-square-foot retail building was 100 percent leased with key tenants including the Denver Chophouse and Old Chicago.
The seller was Thermo Union Pacific, LLC, which was represented by Jon Hendrickson and Aaron Johnson with Cushman & Wakefield in the transaction.
“It was a privilege for our team to lead the transaction of the Union Pacific Building at Coors Field due to the incredible strengths of the location, asset profile, and the significant depth of buyer interest,” said Jon Hendrickson, managing director. “When the property was constructed in 1922, the benefits of proximity to Denver Union Station and the urban core were a driver for Union Pacific’s site selection. Almost 100 years later, the same benefits exist.”
“The seller had owned the asset for approximately 25 years and maintained it with great pride of ownership. We anticipate the buyer will take the same long-term approach and benefit from all of the momentum McGregor Square, the Colorado Rockies, and Lower Downtown provide,” added Aaron Johnson, managing director.
Located at 1711-1735 19th Street, the building has a storied past as one of the earliest brick structures in historic LoDo. Developed in the early 1920s, the building initially served as the historic Union Pacific Railroad Signal Master’s Head House in Denver.
“To our knowledge, we believe this to be the highest price per square foot sale for brick and timber in the history of LoDo,” noted Hendrickson.
