Page 2AA —
COLORADO REAL ESTATE JOURNAL
— October 21-November 3, 2015
Office
by Jill Jamieson-Nichols
A Central Platte Valley office
building under the same owner-
ship for two decades sold to pri-
vate equity investor for $434.35
per square foot.
Riverpoint Investments LLC,
an affiliate of Goff Capital Part-
ners, paid $21.38 million for the
Riverpoint Building at 2300 15th
St. in Denver. The four-story,
49,212-sf brick building is 100
percent leased, predominantly
to technology tenants.
It is surrounded by restaurants
and retailers, including REI’s
flagship store and Natural Gro-
cers by Vitamin Cottage, and sits
alongside the South Platte River
and Platte River Trail.
Garvin Partners was the seller.
It has owned the building for 20
years.
“Garvin Partners is thrilled to
have Riverpoint Investments as
the new owner, and we’re really
excited to see where they take this property that has been so
dear to us for so long,” said Nick
Garvin of Garvin Partners. “We
love that area.”
Garvin Partners is a local com-
pany that invests in real estate,
startups and technology, mostly
in the Denver area.
Goff Capital Partners didn’t
return a phone call about the
transaction. The company owns
the Natural Grocers building
across the street fromRiverpoint,
according to CoStar Group. It
also owns approximately 2 mil-
lion sf of office and industrial
properties in Boulder and Long-
mont.
The Riverpoint Building was
constructed in 1901 and under-
went a major renovation in the
late 1980s.
Other News
n
A 12,139-square-foot office
building at 2150 S. Cherry St. in
Denver sold for $1.23 million, or
$100.91 per sf.
The
House Worship Center
Inc.
purchased the building
from
Robb Norwood.
“This well-maintained prop-
erty was originally built to meet
the needs of a real estate school
and is now an excellent fit for a
local church,” said
Jeff Johnson
of
Pinnacle Real Estate Advi-
sors,
who represented the seller
with fellow Johnson Ritter Team
members
Matt Ritter, Greg
Breslau, Cody Stambaugh
and
Peter Sengelmann. Corey Mur-
ray,
also with Pinnacle, repre-
sented the buyer.
n
BKD
leased approximately
19,000 sf on the 29th floor of 1801
California St. in downtown Den-
ver. It will move into the space
in 2016.
The building will provide for
more efficient use of space, better
public transportation access and
greater parking than the firm’s
existing downtown offices.
“This move will energize our
partners and staff,” said
Travis
Webb,
manager of BKD’s Den-
ver and Colorado Springs offic-
es. “It will be a lot of work, but
it’s also exciting. Our new office
space will bring with it positive
changes in workspace updates,
which will help us serve clients
better and make a more enjoy-
able environment for our staff.
The office will house approxi-
mately 100 partners and staff.
BKD is a national certified
public accounting and advisory
firm that has had a downtown
Denver presence for nearly 20
years. “We’re glad that they’ll
continue growing their business
in the vibrant downtown Den-
ver core,” said
Tami Door,
presi-
dent and CEO of the
Down-
town Denver Partnership.
Greg Bante
and
Ryan Arnold
of
JLL,
along with
Michael Van-
Buskirk
of
Newmark Grubb
Zimmer
in Kansas City, Mis-
souri, represented BKD in the
11-year lease.
n
Erlynne Properties LLC,
a
local investor, purchased a fully
occupied, 5,357-sf office build-
ing at 5590 S. Windermere St. in
Littleton for $960,000, or $179.20
per sf.
The property is occupied by
five tenants and sold at a 6.65
percent cap rate, according to
Eric Shaw
of
Pinnacle Real
Estate Advisors LLC,
who rep-
resented the seller. The buyer
intends to keep the property as
a long-term investment, Shaw
said.
s
The Riverpoint Building sits alongside the Platte River Trail.
by Jill Jamieson-Nichols
Antero Resources has signed
a 10-year lease for 37,000
square feet of office space at
A Block that will serve as an
extension of its offices next to
Denver Union Station.
A Block, under construction
at 16th and Wewatta streets,
will include the 51,000-sf office
building, now about 95 pre-
leased, a 12-story, 200-room
Kimpton Hotel and two restau-
rant concepts. Antero expects
to occupy the space in early
2017.
“A Block was very attractive
to Antero Resources because
of its immediate adjacency to
their current headquarters, and
we couldn’t be more thrilled
for them to be expanding into
the A Block development,”
said Dan Murphy, senior prin-
cipal at Continuum Partners,
the project’s
d e v e l o p e r.
“In
addi-
tion, having
nearly all of
the office and
retail space at
A Block pre-
leased means
we can focus
on the devel-
opment of
the Kimpton Hotel, which is
the anchor of the entire proj-
ect.”
Many of the same finishes
and materials used at Antero’s
building on the south side of
Denver Union Station will
be incorporated into the new
space to create a seamless look
for employees and visitors.
“We were one of the first ten-
ants in the Union Station neigh-
borhood and have watched
as it has evolved into one of
the most vibrant commercial
and residential settings in Den-
ver,” said Paul M. Rady, Antero
Resources chairman and CEO.
“We are delighted to expand our
company’s footprint into the A
Block development.”
Todd Wheeler of Cushman
& Wakefield represented the
landlord in the transaction.
Scott Garel of Newmark Grubb
Knight Frank representedAntero
Resources, an oil and gas explo-
ration and production company.
Antero’s space will be located
on the second through fourth
floors of the five-story office
building. Continuum Partners
will occupy the fifth floor,
approximately 9,500 sf, and
Bank of America will take 3,500
sf on the ground floor. A Block
also will include two restau-
rant concepts, one from Bobby
Stuckey and Lachlan Mackin-
non Patterson of Frasca Food
& Wine, and a second concept
that hasn’t been disclosed. The
only remaining space in the
building is 2,242 sf of retail on
the ground floor.
s
With Antero Resources, A Block is 95 percent preleased.
Dan Murphy
ʻGarvin Partners
is thrilled to have
Riverpoint Investments
as the new owner,
and we’re really
excited to see where
they take this property
that has been so dear
to us for so long.ʼ
– Nick Garvin, Garvin Partners
