Another Denver office tower is being auctioned off. The current ownership group bought the tower at 475 17th St. in 2015 for $26 million and hoped to convert the office floors to apartments. But that notion fizzled, and now the group, Civicap Partners and Revesco Properties, is selling to the highest bidder. Civicap invests in “attainable” housing projects.
The Denver Business Journal reports two other downtown-adjacent properties hit the auction block this year. The 1630 Welton St. building, a 10-story property, is scheduled to go on the auction block beginning Oct. 19. In August, a 149,222-square-foot tower at 216 16th St. sold for $3.6 million after an auction.
The 1975 property totals 151,425 square feet. The auction website lists 93,837 square feet available for lease.
CBRE is handling it through the auction platform TenX.
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