Two office buildings in Denver, located at 8390 and 8350 E. Crescent Parkway, have recently been sold for a significantly lower price than their original purchase cost. The combined space of over 220,000 square feet was acquired by Knightsbridge Capital and Westside Investment Partners for $14.3 million.
According to the Colorado Real Estate Journal, American National Insurance had previously purchased the two buildings in separate transactions for a total of $47.5 million in 2014 and 2015.
The first building spans six stories with nearly 87,000 square feet while the second building has four stories and approximately136,000 square feet under its roof. American National paid $17.5 million for the former in 2015 and $30 million for the latter in 2014.
Located southwest of E.Belleview Avenue intersection with DTC Boulevard,the properties feature impressive lobby entrances as well as covered parking spaces along with shared amenities such as an amphitheaterand water features.
The seller was represented by JLL’s Sean Whitneyand Larry Thiel.
