University Of Colorado Acquires 79 Percent Vacant Office Tower In Denver For $29.75M

The asset involved in this transaction is Independence Place, a 25-story office tower located at 950 17th Street in Denver, CO. The property is currently 79% vacant and features two annexes along with three levels of underground parking. The University of Colorado has acquired this office space for a total sale price of $29,750,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $29,750,000
• Buyer: University of Colorado
• Market: Denver, CO
• Vacancy Rate: 79%

The deal was approved by the University of Colorado Board of Regents, reflecting a strategic acquisition for the institution. The transaction encompasses both the tower and its associated annexes, facilitating potential future use or redevelopment opportunities.