As seen at https://www.bizjournals.com.
James Rodriguez Jun 24, 2021, 4:57pm EDT
The Circa Building, located at 1615 Platte St., was completed in the summer of 2018.
Provided by Unico
The Circa Building has traded hands for the second time in less than three years, this time selling for $60 million, according to property records.
The four-story, 96,000-square-foot office building at 1615 Platte St. includes ground-floor retail and restaurant space, and was completed in 2018. The building is one of several recent office developments along Platte Street that have helped establish the area as one of the hottest destinations for office tenants in the city.
The buyer appears to be Beacon Capital Partners Inc., a Boston-based real estate investment firm that owns several properties in the Denver area, according to its website. The company declined to comment.
The Circa Building last traded in January 2019, when it was sold by Unico Properties for $48 million as part of a 27-building, $710 million portfolio sale to Broad Street Principal Investments LLC, an affiliate of New York-based Goldman Sachs (NYSE: GS). Unico retained a stake in the portfolio and continued to manage and operate The Circa Building, which it originally co-developed alongside Confluent Development.
This is at least the second office building of this scale in the Denver area that Beacon has purchased recently.
In March 2020, the company acquired a four-story, 114,000-square-foot office building at 1740 Broadway for $7.15 million, according to previous Denver Business Journal reporting. That building will remain home to a prominent Wells Fargo location until at least late 2021 or early 2022, when the bank is slated to move into a new, smaller location around the corner.
Plans submitted to the city suggest that Beacon is planning to upgrade the nondescript building with a new glass facade and rooftop terrace, among other improvements, as it seeks to lure new office tenants.