Tributary Real Estate Acquires Mixed-Use Office Building in Globeville for $11.2M
Tributary Real Estate recently acquired a three-story mixed-use office building at 400 W. 48th Ave. in Denver’s Globeville neighborhood. The purchase was made in partnership with JLL Denver Managing Director Ken Gooden for $11.2 million.
The 4.75-acre property includes 5,000 square feet of retail space and 93,000 square feet of office space, fully occupied by several local Denver businesses, such as Sunflower Bank, Farrington Construction Management and Colorado Uplift.
“This acquisition is the latest example of Tributary’s proven investment strategy of identifying under-the-radar assets in emerging neighborhoods and using our expertise to add value and generate strong returns,” said Ryan Arnold, a founding partner at Tributary.
The recently renovated property includes multiple amenities, including an upgraded lobby, fitness center with shower facilities, and common tenant conference room.
The Globeville neighborhood has been the target of increased investment in recent years, most notably the $1 billion redevelopment of the National Western Complex into a year-round destination with educational and event space and the proposed redevelopment of the old Denver Post printing facility, now known as Fox Park.