Lowe acquires Denver office building
Lowe has acquired 7979 E. Tufts, a 366,184-square-foot, class A office tower in southeast Denver. Built in 1982, the 18-story building, also known as Stanford Place II, is located in the Denver Tech Center.
“7979 E. Tufts is a modernized office building, well-located in the premier southeast Denver market near a light rail station that connects to Denver’s growing public transportation network,” said Marty Caverly, executive vice president of Lowe and Hospitality at Work. “Denver is a solid office market and among the many metro areas across the country that Lowe has identified as top targets for acquisitions as we strategically grow our office portfolio.”
Denver benefits from a diverse employer base, strong job growth, a robust and growing public transportation network and is often ranked among the nation’s most desirable cities attracting businesses and a highly skilled and educated workforce. These are attributes that align with Lowe’s criteria for its expanding commercial office portfolio.
7979 E. Tufts offers 21,000-square-foot floorplates, nine-foot-high finished ceilings, and abundant windows for natural light and sweeping views of downtown Denver, the mountains and the surrounding area. 7979 E. Tufts’ central location at the I-25 and I-225 interchange and proximity to the Belleview Light Rail Station provides easy access for tenants and visitors. Southeast Denver offers nearly 9 million square feet of retail, entertainment and restaurant options, providing tenants a wealth of nearby amenities.
Hospitality at Work, Lowe’s workplace experience and property management platform, has overseen a comprehensive program of building improvements to upgrade building systems, refresh and reimagine common areas and enhance gathering spaces, including the addition of an outdoor place and a tenant Connect Room, to create a welcoming workplace and community environment at the building. In addition to physical improvements, Hospitality at Work has created and implemented a continuing program of community-building events to offer education, entertainment and team-building opportunities, further fostering an environment of caring, engagement and connection for tenants at the building.
