May 17, 2018 Comments (0) Views: 303 Colorado, National News, Southwest

CIM Buys Denver’s LoDo Towers for $189M

Los Angeles-based CIM Group acquired LoDo Towers, a two-building office campus and parking facility in Denver from Zeller Realty Group for a reported $189 million. The assets include 1331 and 1401 17th St., as well as two adjacent parking garages comprised of roughly 1,140 stalls.

1331 is a 13-story building with roughly 220,000 square feet, while 1401 is a 16-story building totaling 190,000 square feet. The early 1980s era buildings both sit on 1.15-acre parcels.

The Lower Downtown properties are in the hub of downtown Denver, ideally situated in the LoDo submarket, just minutes from Union Station, the area’s epicenter, and steps from the bustling 16th Street Mall.

The deal was financed by Bank of America.

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