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
Denver Office Market Snapshot
Boundary boundary · Office · Lease transactions
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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