ASB Real Estate Investments has sold two office buildings, located in the LoDo submarket of Denver, for $85.5 million to Unico Properties. ASB completed the disposition on behalf of its Allegiance Real Estate Fund, a $7.4 billion core investment vehicle.
The properties, total 170,472-square feet of space, are 1755 Blake St., a LEED-certified, five-story brick building, and the historic, five-story Hardware Block at 1515–1527 Wazee St., constructed in 1895. The buildings are a short distance from Denver’s transport hub, Union Station, at the center of the city’s popular restaurant and entertainment district. ASB acquired the assets in 2013 for $69.8 million.
David Quigley, ASB’s CIO, said, “The sale is part of ASB’s portfolio strategy to strategically and selectively reduce office exposure and increase investments in industrial and apartment assets.”
ASB continues to own Colorado Center, the 1 million-square-foot office complex located between downt
