1660 Wynkoop, located in the Lower Downtown Historic District (LoDo), traded hands this month as Boston-based AEW Capital Management bought the building from Legacy Partners for $26.6 million, or $405 per square foot. Cushman & Wakefield of Colorado Inc. represented Legacy Partners in the transaction; the terms of the sale were not disclosed.
1660 Wynkoop, built in 1983, is an 11-story, 65,715 square-foot office building featuring a brick-clad exterior and spectacular Rocky Mountain views. The property was 90% leased at the time of purchase according to a Denver Business Journal article. "This sale was driven by tenant demand," Mike Winn, vice chairman of Cushman & Wakefield of Colorado Inc. said. "That's where tenants want to be, so investors are buying where they think there will be demand and ultimately rent growth to reward their investment."
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