DENVER, CO – HFF announced today that it has closed the sale of Denver City Center, a two-building, Class A office property totaling approximately 1.3 million square feet in downtown Denver.
HFF marketed the property exclusively on behalf of the seller, Crescent Real Estate Holdings LLC. Shorenstein purchased the asset.
The two buildings are located at 707 and 717 17th Street and together occupy an entire city block between Stout and Streets in Denver’s Financial District. Completed in 1981, the 42-story 707 17th Street building is leased to tenants such as Jacobs Engineering and Forest Oil Corporation. The 29-story 717 17th Street building, also known as Johns Manville Plaza, was completed in 1978 and is leased to tenants including Johns Manville, Baker Hughes and AECOM.
The HFF team representing the seller was led by senior managing directors John Jugl and Mary Sullivan.
“Denver City Center is one of the area’s landmark properties and this sale is the largest of its kind in 2013 and one of largest sales in Denver’s history,” commented Jugl.
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries, Crescent manages and develops premier, Class A office buildings. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent's Web site at www.crescent.com.
San Francisco-based Shorenstein Properties LLC (www.shorenstein.com) is one of the oldest and most successful private real estate investment companies active throughout the United States in the acquisition, development, ownership and management of office and mixed-use properties. Since its beginning in 1924, the company has evolved from a regional real estate operating company to an active national investor and manager of co-mingled institutional capital. Shorenstein provides asset management, leasing, property management and construction services to the properties in its portfolio through its wholly owned property services affiliate, Shorenstein Realty Services.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.