In denver Tributary Real Estate acquired Globe4Hundred, a recently remodeled office building located at 400 West 48th Ave. in Denver.
The JLL Capital Markets team represented NAS Properties seller and Tributary Real Estate seller. The team was led by the managing directors. Larry Thiel as well as Jason Schmidt who sold their second off-market office building in three weeks.
“The volume of office deals in the city continues to grow as investors seek to place capital in strong office markets such as Denver,” Thiel said.
Built in 1981, 400 West 48th Ave. includes 93,000 square feet of office space and 5,000 square feet of retail space, which are 100% leased to seven tenants. The three-story building has recently undergone significant refurbishment, including a lobby refurbishment, the addition of a fitness center with showers, a tenant hall and conference center, and an exterior upgrade.
“We would like to thank the entire team involved in moving the 400 W 48th, including our leasing team led by Nate Bradley, Farrington GC, Waring Associates, Muse and SM&RC,” said Nate Schnabel of NAS Properties.
The hotel is located on a 4.75-acre site at the intersection of Interstate 25 and Interstate 70 in Globeville. The Globeville area is part of a Denver redevelopment plan and is therefore close to numerous new developments, including the $ 1 billion National Wester Complex, the new Colorado State University campus and the Washington Street redevelopment. In addition, the hotel is just a short drive from Denver’s RiNo and downtown Denver, just 4 km south.
Tributary Real Estate is a fully integrated commercial real estate company specializing in brokerage, investment, development and equity. The firm acquires, owns, develops and manages mixed-use properties – both greenfield and adaptive reuse – throughout Denver, with a focus on RiNo and the Denver downtown area.