17th & Grant
Project Name:
17th & Grant
Location:
NEC of 17th Avenue and Grant Street, Denver, CO
Description:
265,000 SF, 12-story Class B+ office building in the Uptown submarket on the edge of the Denver central business district
SelectedTenants:
Baker & Hostetler (50,000 SF), HDR Engineering (40,000 SF), EEOC/GSA (21,000 SF), Anton Collins Mitchell (16,000 SF) – 37 tenants total
Value in 2001:
$27.4 million
Value in 2007:
$44.8 million (sale price) – 6.6% capitalization rate
Highlights:
- Repositioned Class C+ asset to Class B+ asset by improving broker and tenant perception.
- Upgraded physical asset to increase tenant satisfaction. Renovated main lobby and atrium, common areas, and bathroom finishes. Upgraded mechanical system reliability.
- Improved occupancy by developing and leveraging relationships with outside brokers and with key tenant decision makers.
- Developed strong tenant satisfaction through responsive leasing program and property management.
