Crescent Real Estate Acquires BPX Energy Headquarters In Denver For $129.1M

Crescent Real Estate has acquired the headquarters of BPX Energy, the U.S. oil and gas business of BP, for $129.1 million. The property, located at 1700 Platte Street in Denver, CO, is an office asset with a total square footage of 213,713. The purchase price equates to approximately $604 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $129,100,000
• Address: 1700 Platte Street, Denver, CO
• Market: Denver, CO
• Buyer: John Goff - Crescent Real Estate
• Brokers: Alex Mulvihill, Chad Flynn, Charley Will, Jenny Knowlton & Tim Richey - CBRE

The acquisition of BPX Energy's headquarters marks a significant investment for Crescent Real Estate in the U.S. oil and gas industry. This strategic move positions Crescent Real Estate as a major player in the Denver market, solidifying its presence in the office sector. The involvement of CBRE's brokers, namely Alex Mulvihill, Chad Flynn, Charley Will, Jenny Knowlton, and Tim Richey, further highlights the collaborative efforts and expertise of the parties involved in the deal.