Lowe Enterprises Investors has acquired the 231,454-square-foot Denver Club office building, acting on behalf of a pension fund client,
A $10 million renovation program was recently undertaken at the property at 518 17th St. to upgrade the lobby area, elevators and mechanical systems.
In addition, a fitness center and a new conference room were added, and the building was re-clad on two sides.
Built in 1954, the 24-story Denver Club is a historic building, one of only two Early Modern buildings in Denver’s Central Business District.
LEI’s local affiliate, Lowe Enterprises Real Estate Group, will oversee $1.5 million in additional improvements including common-area upgrades and complete demolition and remodeling of two floors. Lowe Enterprises Real Estate Group will also oversee property management and leasing activities for the building which is 76 percent leased.
