DENVER, CO – April 15, 2019 – HFF announces that it has closed the sale of Trinity Place, a boutique office property totaling 195,753 square feet in Denver’s central business district (CBD).
HFF represented the seller, Velocis, and procured the buyer, Novel Coworking.
Trinity Place is located at 1801 Broadway in the thriving Uptown submarket of Denver’s CBD. The property has a Walk Score® of 98 and a Transit Score® of 93 being situated two blocks from light rail connectivity and the Free MetroRide or Free MallRide at Civic Center Station. Additionally, the boutique office property is close to the sought-after neighborhoods of Five Points, Capital Hill and Cheeseman Park, which have the greatest density of Millennial households in Denver and offer an unrivaled amenity base of hip cafes, chef-driven farm-to-table restaurants and famous concert venues, including the Fillmore and Ogden theatres. The 17-story building offers average floorplates of 12,200 square feet and is currently 65% leased.
The HFF investment advisory team representing the seller included senior managing director Mark Katz and senior director Peter Merrion.
“Trinity Place was a very active marketing process with tremendous interest from real estate investors,” said Merrion. “The property’s boutique, value-add profile and dynamic Uptown location had a wide appeal. We are excited to see the new owner continue to drive value and create a new experience in the Denver market.”
“Denver is an incredibly attractive market right now in the investor community,” said Mike Lewis, partner, Velocis. “Following a successful repositioning of Trinity Place, we felt the timing was right to exit.”
About Velocis
Velocis is a private equity real estate investment firm, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.
About Novel Coworking
Novel Coworking offers fully furnished, amenity-rich workspaces with direct fiber internet and WiFi in 30 locations in 22 cities throughout the United States. For more information, please visit: novelcoworking.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
