Search
 

Legacy Acquires Stanford II for $35M

DENVER-Legacy Partners acquires the 343,000-sf, 17-story office tower from the Archon Group. Plans call for a major upgrade of the property.

By John Rebchook | Updated on October 13, 2003

DENVER-Legacy Partners scooped up the class A Stanford II office tower in the Denver Tech Center for a bargain $35 million. Its partner in the deal for the 343,000-sf, 17-story building at 7979 E. Tufts Ave. is GI Partners, from the San Francisco area.

The replacement cost on the building would be in the neighborhood of $240 per sf, says Peter Llorente, regional VP of Legacy. The building, constructed by Bill Walters in 1982, is about 70% occupied, says Joe Serieno, who is leasing it for Legacy with fellow Trammell Crow broker Richard Bryant. The deal was handled by Cushman & Wakefield brokers Tim Richey and Mike Winn.

Walters was so big in the 1980s he was known as the Donald Trump of Denver until he became embroiled in the failed Silverado Banking Savings and Loan scandal. He ultimately filed for bankruptcy in California, after losing his local real estate empire.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.