Downtown Denver MXD Building Trades
“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market."
DENVER–Holliday Fenoglio Fowler, L.P. has announced the sale of 1600 Glenarm Place. The building is a mixed-use high-rise located on the 16th Street Mall in downtown Denver, Colorado.
Constructed in 1967 as an office tower known as the Security life Building, it was converted in 2006 by RedPeak Properties into a residential and retail mixed-use project. Holliday Fenoglio Fowler marketed the asset exclusively on behalf of the seller, a joint venture between RedPeak Properties and AllState Investments, and obtained the buyer, Northland Investment Corp.
A 0.77-acre land parcel for future development was purchased along with the tower.
The building has 333 apartments and approximately 29,000 square feet of commercial space, and is within walking distance of nearly 40 million square feet of office space. The residential units average about 980 square feet.
Holliday Fenoglio Fowler managing director Jordan robbins stated, “Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market. This, coupled with their ability to implement an aggressive value-add strategy, will only serve to further the property’s position within downtown.”