Colorado Real Estate Journal - October 21, 2015
A Central Platte Valley office building under the same ownership for two decades sold to private equity investor for $434.35 per square foot. Riverpoint Investments LLC, an affiliate of Goff Capital Partners, 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 Grocers 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 company 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 from Riverpoint, according to CoStar Group. It also owns approximately 2 million sf of office and industrial properties in Boulder and Longmont. The Riverpoint Building was constructed in 1901 and underwent a major renovation in the late 1980s.