Article cited from Colorado Real Estate Journal
Lincoln Property Co. acquired Denver Financial Center I and II for $95.2 million on behalf of a public pension fund client.
Located in the Uptown neighborhood, the 13- and 34-story office towers at 1775 Sherman St. and 1776 Lincoln St. comprise 435,672 square feet. They are just under 88 percent leased to SM Energy, PDC Energy Inc., Parsons Corp. and other tenants, many of which have been there for more than two decades.
Lincoln plans to add amenities and undertake significant lobby renovations.
The buildings feature full-height windows and eight parking spaces per 1,000 sf. Located near the 16thStreet Mall, they are close to restaurants, shops, hotels, Civic Center Station and other amenities.
CBRE Inc. brokers Tim Richey, Mike Winn, Chad Flynn, Jenny Knowlton and Charley Will handled the transaction.
US Premier Office Equities LP, a USAA Real Estate fund that bought Denver Financial Center for $84.02 million a decade ago, was the seller.