Lowe Buys Class A Office Tower in Denver
- Nov 13, 2019
Lowe has acquired Stanford Place II, a Class A office tower in Denver totaling more than 366,000 square feet. The property, also known as 7979 E. Tufts, had previously changed hands for $56.1 million in 2014, when Broadshore Capital Partners purchased it from Nuveen Real Estate, per Yardi Matrix data. Lowe’s Hospitality at Work has operated the property on behalf of the prior owner since 2014.
Stanford Place II features 21,000-square-foot floorplates, nine-foot-high ceilings and ground-floor retail space. Lowe’s Hospitality at Work has overseen a renovation plan to upgrade the building’s systems, improve the common areas and enhance gathering spaces, as well as adding an outdoor place and a tenant Connect Room. Additionally, the company created and implemented a program of community-building events with the purpose of offering education, entertainment and team-building opportunities for the tenants.
Located at 7979 E. Tufts Ave., on approximately 5.6 acres, in the Denver Tech Center, the property offers access to interstates 25 and 225 and to the Belleview Light Rail Station. The 18-story building provides convenient access to the Denver International Airport, situated approximately 30 miles away, and is surrounded by more than 10 million square feet of office space in the DTC.
Marty Caverly, Alan Chamorro, Mara Fabian and Andy Segal led Lowe’s acquisition team, while CBRE’s Mike Winn and Tim Richey represented the seller.