Trammell Crow buys downtown Denver site for $20.75 million

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Denver County

Property Location: 1800 Market St., Denver

Property Description: Vacant multifamily site

Land Size: 50,179 sf

Sales Price: $20.75M, or $413.52 psf, or $68,033 per buildable unit

Reception No.: 2018095040

Closing Date: 8/1

Grantor: 1800 Market Tower LLC, c/o BlackRock US Core Property Fund Inc., Elizabeth Kurz, VP, portfolio manager

Grantee: 18th& Market LLC, c/o Trammell Crow, Matt Schildt, 720-932-8137

Comments: The 302 units are defined as follows: 80 units will be studios, 155 units are one-bedrooms & 67 units are two-bedroom apartments, totaling 383,041 sf of building area.  The retail area consists of 8,782 sf plus another 2,784 sf. There are 10 parking stalls for the retail area (1:750 sf) and 312 parking spaces for the multifamily, including: 241 standard parking spaces, 30 compact spaces, six ADA accessible spaces, two ADA van accessible and 33 tandem spaces.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

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