Owner hands over reins to Elephant Corral

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3081_cs elephantAfter 24 years of ownership, Elcor Partners Ltd. has decided to let someone else take the reins of an important piece of Denver’s history.

“It was time,” Bill Saslow of Elcor Partners said of the Elephant Corral, an office property Stoltz Real Estate Partners bought for $17 million. “There’s been so much interest in properties in Lower Downtown. Even though we didn’t list it and weren’t really thinking about selling the property, we received a number of unsolicited offers last spring, largely I suspect because of the interest that Union Station and Platte Valley focused on the Lower Downtown area. We ended up deciding to sell it, got an offer we were pleased with and sold it,” he said.

The sale included the approximately 57,200- and 9,000-square-foot office buildings at 1444 and 1408 Wazee St. and surface parking lots at 1401 and 1406 Wazee. The smaller building also includes a residential condominium.

Read the entire article in CREJ’s Feb. 18-March 3 issue.

Photo courtesy of CoStar Group

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