HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF 15TH & PLATTE, DENVER, CO

HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF 15TH & PLATTE, DENVER, CO

A partnership formed by Hannay Realty Advisors (www.hannayra.com) is pleased to announce that they have closed on the purchase of 15th & Platte, a prime redevelopment site located between the Lower Highlands and the Central Platte Valley neighborhoods of downtown Denver, CO. The existing 20,190 square foot building is 100% leased to Natural Grocers by Vitamin Cottage and Confluence Kayaks. Currently zoned CMX-5, the ±1 acre site affords many mixed-use development opportunities, with a potential maximum density of 5 times the land area, or potential to develop up to a total of 225,000 square feet of commercial or residential product.

“We are thrilled with our acquisition of 15th & Platte, a rare redevelopment site that is located at an intersection that many Denver residents would consider to be ‘main and main’ within urban Denver. The site can accommodate many possible redevelopment scenarios that will capitalize on the rejuvenation of this area and will provide great returns for our investors”, said company president Craig Hannay. This is the 4th asset in the past 16 months where Hannay has acted as an advisor for a Denver area acquisition. Hannay’s Denver portfolio of office and retail properties under management is now over 6 million square feet.

 

ABOUT HANNAY REALTY ADVISORS

Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona.  The company currently manages approximately 12 million square feet of commercial properties with offices in Arizona, California, Colorado and Nevada.  Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program.   Hannay’s management and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States.  Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.”

The leasing and property management contact for 15th & Platte is Bruce Backstrom, Chief Operating Officer in Hannay Realty Advisors’ Denver office, (720) 399-1460.  For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.

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