A historic Denver office building known as The Vault has been formally brought to market, offering investors a fully renovated yet currently vacant asset. The approximately 107,000-square-foot property dates back to 1907 and most recently housed the coworking operator WeWork, which exited the building five years ago. Since WeWork’s departure, the building has remained unoccupied, positioning the listing as a potential value opportunity for buyers willing to lease up the space.
The property is owned by Harbor Associates, which acquired the building in 2017 for $17.6 million, according to reporting from the Denver Business Journal. JLL has been engaged as the exclusive advisor for the listing, signaling that the asset will be marketed through an institutional brokerage platform. The marketing effort comes at a time when investors are closely scrutinizing vacancy risk and amenity packages in older office stock, particularly in urban locations.
From 2019 through 2024, Harbor Associates completed a substantial capital improvement program totaling more than $22.4 million. That investment focused on both aesthetic and functional upgrades, including restoration of the building’s first two floors and exterior, as well as delivery of a new lobby. The owners also modernized building systems, bringing the property more in line with current tenant expectations for building performance and reliability.
As a result of the renovation program, eight of the building’s nine floors are now fully renovated, with furnished spec suites delivered on the sixth through ninth floors. These move-in-ready suites are designed to reduce friction for smaller tenants and users seeking turnkey space, potentially shortening lease-up timelines for a future owner. The ninth floor remains part of the upgraded office stack, though the specific configuration is not detailed.
In addition to its office space, The Vault features a 2,007-square-foot retail unit located at the corner of 17th and Champa streets, providing a street-level presence and potential activation opportunity. The building also offers access to up to 200 parking spaces at the Residence Inn parking garage located across the street, adding a key convenience factor in an urban setting where on-site parking can be limited. Together, the recent capital investment, spec suite program, and retail component frame The Vault as a renovated, multi-tenant office and retail opportunity now available to the market.
