Description

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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Caractéristiques de l'actif

Surface de l'actif Net

45 958 m²

Occupation

88 %

Nombre d'étages

WALT

4.5 années

Année de construction

1980

Média

Points clés d'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