CenterSquare Investment Management with its partner Soma Capital has sold The Lab on Platte Street, a four-story, 78,575-square-foot creative boutique office building in Denver.
The sales price was $45.5 million.
The buyer was an unnamed institutional investor.
WeWork leases 50,000 square feet, or 65 percent, of the building. Restaurants Poke House and Dead Battery Club also operate at the building.
It’s the first predominantly WeWork-anchored building to sell in Denver.
Located at the gateway between Downtown Denver and the Highlands, Platte Street provides immediate access to Denver’s most coveted urban restaurants, shops and close-in neighborhoods, and is arguably one of the most rapidly transforming areas in Denver, boasting a mix of historic elements and brand-new construction, according to the release. The institutionally-owned neighborhood is currently full, with high scarcity and barriers to entry.
