DENVER-Franklin Street Properties Corp., Wakefield, MA, has paid $183 million for a 43-story, multi-tenant office building containing approximately 680,277 rentable square feet of space and a 9-story parking garage.
Located in the central business district, the office building is located at 1999 Broadway and the parking garage is located at 2099 Welton Street. Although the closing of the purchase of the property had been scheduled to take place on July 1, Franklin Street accelerate the closing date. The distinctive, glass-clad tower was designed by Curt Fentress, architect of Denver International Airport, and completed in 1986. It is the fifth-highest building in Denver, and is approximately 96% leased. Tenants include several law firms, and an office of the IRS.
The deal brings the firm's portfolio of directly-owned properties to 38, containing an aggregate of approximately 8.5 million rentable square feet.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
