facebook

traded

+ Submit
Home

/

Deals

/

Colorado

/

Office

/

Lease

/

1601 Wewatta Street, Denver...

Pivot Energy Leases Office Space At 1601 Wewatta Street In Denver, CO
LEASEDOffice

Pivot Energy Leases Office Space At 1601 Wewatta Street In Denver, CO

1601 Wewatta Street, Denver, Colorado 80202, United States

$35

$35/SF

Building Size

22,628 SF

Asset Type

Office

Closing

Apr 24, 2023

AI

The office property located at 1601 Wewatta Street in Denver, CO has been leased. The landlord, Morgan Stanley, has entered into an agreement with Pivot Energy as the tenant. The lease transaction was facilitated by Chris Phenicie and Allison Berry of CBRE, representing the landlord, and Andrew Blaustein & Josh Pons of Newmark, representing the tenant. The total square footage of the leased space is 22,628 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 1601 Wewatta Street, Denver, CO
  • Market: Denver, CO
  • Landlord: Morgan Stanley
  • Tenant: Pivot Energy
  • Landlord's Rep: Chris Phenicie and Allison Berry - CBRE
  • Tenant's Rep: Andrew Blaustein & Josh Pons - Newmark
  • Asking Rent: $35/ft.
  • Square Footage: 22,628

Andrew Blaustein & Josh Pons from Newmark played a significant role in representing Pivot Energy as the tenant during the lease transaction. Their expertise and negotiation skills were instrumental in securing the deal. Meanwhile, Chris Phenicie and Allison Berry from CBRE represented the landlord, Morgan Stanley, ensuring a smooth negotiation process for the lease terms.

Players

Andrew Blaustein

Newmark

Broker

2 deals

Broker
Morgan Stanley
Morgan Stanley Lender
Morgan Stanley
Morgan Stanley Landlord

Denver Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93