DENVER, Feb. 5: Denver-based commercial real estate firm Northstar Commercial Partners publicly announced its purchase of the iconic Offices at the Art building for USD 17.1 million.
Constructed in 2015, the ±52,000 SF 3-story office is Class AA space and is popularly known for its stunning architectural design along Broadway, with commanding floor to ceiling windows.
Offices at the Art has key proximity to Denver’s most thriving areas and access points including Broadway, Speer Boulevard, Interstate 25, Cherry Creek, Capitol Hill and Downtown Denver.
“This will be one of the top acquisitions in the Denver market for newer office space and we’re thrilled to be involved, especially with Denver as our hometown,” said Brian Watson, Chairman & CEO of Northstar.
Offices at the Art is currently leased by Four Winds Interactive, a long term, single-tenant with demonstrated commitment to the building. Four Winds Interactive has quickly become the industry-leader for enterprise communications software and has won a variety of prestigious awards and mentions including Forbes 2015 list of America’s Most Promising Companies and Top 100 Digital Employers in Colorado by Colorado Biz.
“We are drawn to the iconic nature of this beautiful building in the Denver Art Museum Complex, its attractiveness as a fully-leased asset for a longer term hold, and we see additional positive opportunity being the ones to own it locally,” Watson concluded.
Watson founded Northstar Commercial Partners 18 years ago, with a drive to connect his passion for creating jobs and opportunity for people, with his profession. He is deeply rooted in Colorado and involved in a variety of business and community endeavors, including currently running as a candidate for State Treasurer of Colorado.
Northstar specializes in buying vacant and distressed assets throughout the country and placing them back into productivity. The company also oversees a variety of key development projects, including senior living, healthcare, and large data center facilities for a Fortune 25 Company.
Northstar’s current portfolio includes 48 assets totaling approximately 8 million square feet in 16 states. For more information please visit the company website at: www.northstarcp.com.