Civica Cherry Creek
250 Fillmore St, Denver, CO, 80206-5029, US
10 825 mètres carrés
Descriptif
JLL is pleased to present the exclusive opportunity to acquire 1125 17th Street (the “Building”, “Property” or “Asset”), a 494,689-square-foot office tower situated in the heart of Downtown Denver.
The Property is currently 88% leased with 4.5 years of weighted average lease term (“WALT”). As Downtown Denver’s tenants consolidate into the highest-quality, most amenity-rich buildings, 1125 17th has emerged as a primary destination for that flight to quality. Comprehensively repositioned, the tower pairs a reimagined amenity base with superior tenant spaces — and has become a center of leasing success in the downtown core. With no new construction planned in the CBD for the next decade, a new owner is positioned to capitalize on durable in-place cash flow and the extensive capital already invested in the asset, while capturing the significant embedded value remaining across the rent roll.
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Attributs
Superficie du bâtiment nette
45 958 mètres carrés
Occupation
88 %
Nombre d'étages
25
VALSE
4.5 années
Année de construction
1980
Média
Points forts de l'investissement
- $19.8M Comprehensive Renovation Delivered in 2024
- 254,063 SF Leased Post-Renovation (43% from Other CBD Towers)
- A Rent Roll Rebuilt: Rents Have Climbed 71% Since Acquisition (8% Avg Ann. Growth)
- Immediate Embedded Upside: 24% Mark-to-Market Across 57% of the RBA
- Deliberately De-Risked Rollover: 80% of Expiring Space Belongs to First Lease Tenants
- Upside Beyond a 5-Year Hold Period: 27% of the Property Remains to Roll After 5 Years, 93% Will be First lease Tenants
- Distinct Pricing Power: Rents Offer 49% Discount to Cherry Creek; 24% to New CBD Product; 20% to LoDo
- Largest Tenants Will be 62% Below Replacement Rents at Expiration
- Surrounding Area Is Undergoing a Significant Transformation Driven by Public & Private Investments
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1125 17th Street (0 Propriétés)
