City Of Denver Acquires 306K SF Office Property On 101 West Colfax Ave For $88.5M

The city of Denver is set to acquire a 306,000-square-foot office property located at 101 West Colfax Ave in Denver, CO. The property, currently owned by Kayan Group, was sold for a total of $88.5 million. The sale price translates to a price per square foot of $289. The city of Denver intends to convert the 11-story building into a courthouse and expand it by adding an additional 280,000 square feet.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $88,500,000
• Address: 101 West Colfax Avenue, Denver, CO
• Market: Denver, CO
• Square Footage: 306,000
• Price per Square Foot: $289

The buyer in this transaction is the City of Denver, while the seller is the Kayan Group. The City of Denver, by acquiring this office property, aims to repurpose it as a courthouse, highlighting their initiative to invest in infrastructure development.