Phoenix & Southwest + Southwest + Office | January 15, 2019

Nuveen Enters Denver Market with Colorado State Bank Building Buy

Nuveen Real Estate acquired the Colorado State Bank Building, a 445,000-square-foot office tower located in Denver Central Business District from an affiliate of LBA Realty for a reported $110.9 million. The core Class A asset at 1600 Broadway is Nuveen’s initial foray into the Denver CBD office equity market.

Nuveen’s Andrew Pyke says, “Denver is a target market for Nuveen Real Estate, due to its strong demographics, skilled workforce, and diversified economy and is well positioned to lead the nation in economic growth in the long term. The Uptown office market currently represents an attractive relative value for tenants to midtown and LoDo, and we believe there will be a continued resurgence in the area as additional multifamily and retail is added to the already robust 16th Street Mall and Denver pavilions area.”

CBRE’s Tim Richey, Mike Winn, Chad Flynn, Jenny Knowlton and Charley Will were listing brokers for the 93%-leased building.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.