Asana Picks Up Historic Denver Buildings for Nearly $40M

Asana Partners has acquired a row of historic Denver buildings along Platte Street for $39.75 million.  They bought the 86% occupied buildings from Goldman Sachs and Unico Properties

The portfolio purchase included the Root Building and Big Chief Bottling Company building, which were built in 1890. The red brick used for construction on all the buildings is indicative of early Denver architecture. Unico’s Billy Woodward added, “This is an exciting time for Platte Street, as the downtown submarket has seen an uptick in investment and development in recent years, adding to the street’s vibrancy and solidifying its longevity.”

The brick and timber mixed-use structures is home to various boutique retailer, restaurants and office users. The list includes Wilderness Exchange, a longtime outpost for secondhand outdoor gear, as well as Proto’s Pizza, Babe’s Tea Room and Sushi Sasa. Trelora Real Estate, which was recently acquired, also has an office at the building. The assets underwent a nearly $5 million renovation in 2015.