Nuveen Real Estate buys Colorado State Bank Building

1600 Broadway
The Colorado Sate Bank Building is Nuveen’s first foray in the downtown Denver office equity market.

One of the world’s largest real estate investment managers has acquired its first downtown Denver office asset for $110.9 million, or $249.44 per square foot, according to Denver County records.

Nuveen Real Estate bought the Colorado State Bank Building at 1600 Broadway from an affiliate of LBA Realty. The 444,595-sf building sits at the upper end of the 16th Street Mall and is anchored by Colorado State Bank and Trust.

“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,” said Andrew Pyke, senior director at Nuveen Real Estate.

CBRE’s Capital Markets team of Tim Richey, Mike Winn, Chad Flynn, Jenny Knowlton and Charley Will were the listing brokers.

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Read more about this transaction in CREJ’s Jan. 16, 2019, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…