DENVER — A 129-year-old building in LoDo has sold for the first time in three decades.
JHB Properties LLC and WSJ Associates LLC purchased the three-level, 15,375-square-foot building at 1925 Blake St. last week for $6.43 million, according to county records. The deal works out to $418 a square foot.
Cushman & Wakefield brokers Jon Hendrickson and Aaron Johnson represented the seller. Hendrickson described the buyer, who did not work with a broker, as a family partnership fulfilling a 1031 exchange.
The three-level building was sold by Webb Properties LLC, an entity associated with two men, Keith and Clyde Webb, who purchased the property back in 1989 for $365,000, according to records.
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The building was constructed in 1890 as a warehouse, then renovated into an office building in 1934, according to Cushman & Wakefield. The structure is 100 percent leased to four tenants, including The 1UP Arcade Bar, ticketing firm AXS, insurance-comparison website QuoteWizard, and public relations agency 104 West Partners.