3501 Wazee

3501 Wazee St, Denver, CO, 80216-3643, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”), has been exclusively retained to present the opportunity to acquire 3501 Wazee (the “Building” or “Property”), a newly constructed creative office and dynamic retail asset located in Denver’s River North (“RiNo”) neighborhood.

Completed in 2018, this striking 4-story, 103,585 square foot (“SF”) building showcases modern design and functionality. The Building features outdoor balconies on each floor, offering panoramic views of Downtown Denver and the Front Range. The ground floor features a bustling food hall and bars, providing tenants and visitors with an array of dining options and socializing experiences.

With a diverse tenant mix occupying 79% of the Building and the renowned Ruckus Hospitality now overseeing operations of the food hall and bars, 3501 Wazee represents a compelling investment.

This Property can be acquired at a substantial discount to replacement cost and presents an immediate opportunity for operational upside in one of Denver’s most dynamic neighborhoods.

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Attributes

Building area net

9,623 sm

Occupancy

79%

Year built

2018

WAULT

3.1 years

Media

Investment highlights

Modern Construction: Completed in 2018, this striking 4-story, 103,585 SF building showcases modern design and functionality.

Current Metrics: WALT of 3.1 years with a diverse tenant mix occupying 79% of the Building and the renowned Ruckus Hospitality now overseeing operations of the retail component.

Standout Perks: Outdoor balconies on each floor, offering panoramic views of Downtown Denver and the Front Range. The ground floor features a recently reimagined food hall, providing tenants and visitors with an array of dining options and socializing experiences.

Flexible Configurations: The adaptable nature of 3501 Wazee's office configurations cater to evolving tenant needs and workplace trends while also minimizing tenant turnover costs and downtime between leases.

Excellent Accessibility: Adjacent to the 35th Street Pedestrian Bridge with immediate access to the 38th & Blake Rail Station, offering quick access to Denver Union Station (one stop) and the airport (37 minutes). Additionally, this location provides convenient access to drivers via Park Avenue, 38th Street, Brighton Boulevard, I-25 and I-70 and provides a 1.26:1,000 parking ratio.