Downtown Denver’s Seventeenth Street Plaza office building has been sold to HRPT Properties Trust who paid $135 million in cash, making it the largest real-estate deal done in Denver this year according to the Denver Post. Newton, MA-based HRPT, a real estate investment trust that owns and operates office and industrial buildings, bought the 666,653-square foot, 33-story building from JPMorgan Chase of New York, a deal brokered by CBRE.
JPMorgan put the property on the market in early 2008, asking $385 per square foot, or roughly $250 million, brokers familiar with the property said. Brookfield Properties had the building under contract last summer for $225 million, but the deal was not finalized because of the debt crisis' impact on Brookfield's lender. Current tenants include the U.S. Department of Justice (with 208,250 square feet of space leased), the U.S. Department of Treasury, Ballard Spahr Andrews & Ingersoll and Molson Coors Brewing Company.
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