Rosemont Realty of Santa Fe, New Mexico has acquired the two-building Denver World Trade Center (WTC) office towers in Denver, Colo.
Rosemont Realty purchased the Class A, 770,221 square foot office complex from I & G Denver WTC, LLC. The sales price was not disclosed but the Denver Business Journal reports that industry sources put the price tag for the two towers at about $176 million.
Denver World Trade Center I is 325 ft tall and was completed in 1979 at 1625 Broadway. It has 28 floors. Denver World Trade Center II is 358 ft tall and was completed in 1980 at 1675 Broadway. It has 29 floors and is the 29th tallest building in Denver.
“Denver WTC is an iconic, skyline property with a prestigious downtown address adjacent to the 16th street mall,” said Daniel Burrell , CEO of Rosemont Realty. “This acquisition follows a broader strategy by Rosemont of migrating more of its portfolio into commercial business districts where tenant demand is improving and rates have the potential to grow rapidly in the coming years.”
Denver WTC is currently leased at 95 percent occupancy with 55 tenants. Tenants include Noble Energy, Inc., Schlumberger Limited, KeyBank, Resolute Energy, Corp., and Baker Hughes, among others.
Rosemont Realty acquired the 165,154 square foot Cole Center in Golden, Colo., late last year. The company also owns two others commercial properties in Denver – Central Place and Diamond Hill , totaling nearly 1.4 million square feet statewide.
This year, Rosemont Realty has acquired three other office complexes totaling more than 1.3 million square feet, including the Concourse office complex in Jacksonville, Fla., Dulles View office complex in Herndon, Va., and 2000 Market Street in Philadelphia, Pa.
Rosemont Realty will provide property management services and Jones Lang LaSalle will handle leasing services.
Photo courtesy of Rosemont Realty