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$24.1 Million Performing Office Loan | Denver, CO
Denver, CO, US, Americas
14,798 sm
JLL is pleased to offer investors the opportunity to acquire 1331 & 1401 17th Street; two prominently located office assets at one of Lower Downtown’s (LoDo) most desirable corners.
Leasing in Denver has heavily favored the LoDo submarket, particularly with ready-built spaces. The positive leasing momentum occurring at the buildings offers a strong tailwind to the investor in maintaining and growing this activity through new spec suites.
Each asset is materially overparked, with a combined parking count that comprises 8.5% of all public parking in LoDo. These garages provide durable income from transient and monthly parkers. At the Property level, current ownership has invested nearly $20M in capital investments across the two buildings, thus lowering the need for back-of-house spending.
Together or separately, 1331 & 1401 17th Street offer the investor value-add lease-up in the buildings along with meaningful parking revenue in downtown Denver’s most supply constrained and in-demand submarket.