Sunday, October 24, 2021

Unico pays $85M for two LoDo office properties

Unico Properties has increased its stake in Lodo.

The Seattle-based firm on Wednesday purchased the office component of a five-story office building at 1755 Blake St. and a hardware block at 1515 Wazee St. from Maryland-based ASB Real Estate Investments.

According to public records, the firm made a combined payment of $84.45 million – $61.2 million for the Blake asset and $24.25 million for the hardware block.

Austin Kane, Denver-based vice president and regional director of Unico, said the deal covers a total of 170,868 square feet, of which about two-thirds is at 1755 Blake St. The deal is around $494 per square foot.

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The move represents a commitment to downtown Denver by Unico, which in June sold office space in Platt Street and Boulder to Boston-based Beacon Capital Partners. The firm still owns other local properties, including 1430 Wynkoop St. Office buildings in the U.S. and LoDo include 1875 Lawrence St.

“Workers will return to offices at some point, and Denver will continue to attract highly educated workers,” Kane said. “Companies looking for highly reducted workers are following suit.”

Eric Heinz, BusinessDen

The sign for a lease sits in an empty unit at 1755 Blake St.

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