DENVER, CO (March 26, 2015) – CBRE announced the sale of 1515 Wynkoop, located in Lower Downtown Denver to Invesco Real Estate. The 306,791 square foot core office property, built in 2009 was 96% occupied at the time of the sale.
Located in Denver’s Lower Downtown market, adjacent to the $500,000,000 Union Station redevelopment, the 1515 Wynkoop sale is an additional indicator of increased investor demand for Denver. “Denver is firmly on the radar for an increasing number of capital sources, including large institutional sources and a growing stable of international investors.” said Geoff Baukol, Senior Vice President, with CBRE’s Capital Markets Institutional Properties.
Mr. Baukol added, “Capital recognized that this was an elite opportunity to own AA product in Denver’s best location. The demand by both tenants and investors to be in Union Station and Lower Downtown is incredibly strong – which 1515 Wynkoop exemplifies.”
Kevin Shannon, a Vice Chairman in CBRE’s Los Angeles office stated “Capital globally has increasingly come to recognize the demand and location dynamic of Lower Downtown Denver are similar to the strong central business district markets across the West Coast like San Francisco, Seattle and West Los Angeles.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.