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After 8-Year Hold, Unico Spins Off 4-Building Denver Property
Unico Properties held onto to four adjacent Denver commercial buildings for eight years before selling. Altus Properties has paid $54 million for a six-story office, a two-story retail building, a three-story office and retail building and a single story retail building at E. 2nd Ave and Josephine Street. Unico paid $42 million for the commercial corner in 2015.
The four buildings combined to made up 101,203- square feet. The building at the time of the sale was 100% leased feet. CBRE‘s Jenny Knowlton led a CBRE team that brokered the deal. According to CommercialEdge, the four buildings were originally constructed in 1969, completely renovated in 2004, and feature 11,787-square-foot floorplates, passenger elevators and 265 parking spots.
Unico also maintained an ownership stake in a row of 11 buildings along Platte Street, which recently sold to Asana Partners for $39.75 million in January.
- ◦Sale/Acquisition
