Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Northland Acquires Downtown Denver Tower for $131M
Massachusetts-based Northland Investment Corporation acquired 1600 Glenarm Place, an iconic, mixed-use high-rise located on the 16th Street Mall in downtown Denver, for a reported $131 million. The seller was a joint venture between Denver-based RedPeak Properties and Allstate Investments.
HFF’s Jordan Robbins, Jeff Haag and Anna Stevens marketed the asset exclusively on behalf of the seller. The 31-story tower was purchased along with a 0.77-acre land parcel for future development located at 14th & Glenarm.
“1600 Glenarm is a one-of-a-kind, legacy asset within the downtown Denver market, and by far one of the most recognizable assets in the area,” Robbins said.
Originally constructed in 1967 as an office tower, the property was subsequently converted in 2006 by RedPeak Properties into a residential and retail mixed-use project. The building comprises 333 luxury apartment units and roughly 29,000 square feet of commercial space, including premium frontage along Denver’s 16th Street pedestrian mall.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition