Real Capital Solutions, working in partnership with Dunton Commercial, has acquired Terrace Tower, a Class A office building in the Denver Tech Center. The 12-story property totals 243,464 square feet and is located at 5619 DTC Parkway in Greenwood Village, CO. The transaction price was not disclosed, but Real Capital Solutions noted that its acquisition basis is substantially below the estimated cost of more than $500 per square foot to develop comparable Class A office product in the Denver Tech Center.
At the time of acquisition, Terrace Tower was 72% occupied, supported by a weighted-average lease term of 7.2 years. The building was originally constructed in 1984 and underwent a renovation in 2021, positioning the asset as an updated, institutional-quality office option within the submarket.
The property has benefited from nearly $10 million in recent capital investment. Improvements include a modernized lobby designed to elevate the arrival experience, a fitness center intended to support tenant wellness, and upgraded conference facilities. The tower also offers a tenant lounge, providing additional collaborative and informal meeting space. Behind the scenes, improvements to building systems and the installation of a new roof further enhance the long-term functionality and durability of the asset.
Dunton Commercial will provide local leasing, operating and asset management expertise at Terrace Tower, giving the ownership group on-the-ground capabilities in both operations and tenant engagement. The combination of recent renovations, amenity upgrades and local management support is aimed at enhancing the property's competitiveness within the Denver Tech Center office landscape.
On the disposition side, CBRE's Charley Will, Jenny Knowlton and Chad Flynn represented the seller in the transaction. Their role underscores ongoing investment sales activity for well-located, renovated office assets in established suburban submarkets such as the Denver Tech Center, even as pricing terms remain less transparent when sale figures are not disclosed.
The acquisition of Terrace Tower adds a sizable, recently improved Class A office property to Real Capital Solutions&apos portfolio in the Denver area, while giving Dunton Commercial both a partnership role and day-to-day responsibilities for leasing and asset performance at the building.
