Geller Razes Building for Parking Lot

DENVER-Richard Geller, owner of locally based Paradise Land Co. and whose family owns Paradise Cleaners, recently paid $3 million for a 27,000-sf building on a 21,875-sf site at 1313 Tremont Place. The building, constructed in 1973, has been empty for most of the past six years, excluding a brief period of time when the District Court and City and County of Denver Adult Probation Department leased it. The department has since moved out, and the building was vacant when Geller bought it.

“It is a beautiful sight,” CB Richard Ellis broker Chuck Zeman said about the demolition. Zeman, and his brother, Matt, also a CBRE broker, were listing it. “The city really wants to get ride of some of these blighted buildings Downtown. Geller owns the parking lot right next to it, across the alley, so he was the logical buyer.”