Former yogurt king Marcel Arsenault whipped up another office deal Wednesday when his Broomfield real estate investment firm paid $24 million for a 28-story building at 621 17th St.
The building, which used to house First National Bank of Denver, will be called The Colorado Tower. Arsenault’s Broomfield investment firm, Colorado & Santa Fe Real Estate, plans to spend $7 million on renovations, said Alec Wynne, the firm’s vice president of leasing.
The 403,000-square-foot building is 76 percent leased, “an occupancy rate we will seek to improve,’ Wynne said. Current tenants include Commercial Federal Bank and a mix of state government offices, law firms and oil and gas companies.
The purchase is part of the firm’s larger goal to buy $100 million in metro office properties by the end of the year. The firm paid $28 million for Aurora Corporate Plaza at 12200 E. Iliff Ave. in Aurora last year.
Staff writer Christine Tatum can be reached at 303-820-1015 or ctatum@denverpost.com.
