TIC investors shed Denver office tower

Multiple parking facilities included in deal
Published on Oct 8, 2007

Triple Net Properties LLC recently sold a 32-story office building in Denver, Colo., on behalf of tenant-in-common investors, for an undisclosed price. Toma West LLC purchased the asset, 633 17th St., which comprises approximately 553,000 square feet of downtown space. Built in 1974 and renovated in 1989, the property includes the Plaza Garage, a five-story parking structure with 924 spaces, as well as an adjacent 220-space parking lot. At the time of sale, the property was 92 percent leased to tenants that included the State of Colorado, Sherman & Howard LLC, a Starbucks coffee shop, and a wellness center with chiropractic and physical therapy services. The TIC investors originally purchased the building in December 2005, according to a press statement. ...

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