By MOLLY ARMBRISTER
Urban Renaissance Group, a Seattle-based commercial real estate firm, has purchased the 100,000-square-foot office building at 100 E. Speer Blvd. that houses the offices and studios of television stations KDVR-Fox31 and KWGN-2 for $23 million.
A subsidiary of Chicago-based Tribune Media Co. called Tribune Broadcasting Denver, which operates the TV stations, sold the property and continues to hold a long-term lease for the whole building. There are no other tenants.
“As the city continues to grow, we believe strongly in this location—especially given its proximity to downtown, Cherry Creek and I-25. We believe growth will continue south of the Central Business District and in this corridor,” said Patrick Callahan, founder and CEO of Urban Renaissance Group.
“We’re thrilled to add 100 Speer to our expanding portfolio. Not only is this a superior long-term location—we also believe in 100 Speer’s existing tenant. Originators of media content are a wise long-term investment and we’re pleased that Tribune will remain in the building.”
Tribune Media Co. (NYSE: TRCO) has been selling off assets, including its iconic Tribune Tower in Chicago.
The building is across Speer from the headquarters of TV station KMGH-Denver7 and a few blocks west of KUSA-9News.
Urban Renaissance Group in 2015 purchased the Market Center building in downtown Denver for $29 million and has plans to redesign the property, adding Oskar Blues Brewery as a tenant.
The company also owns 2301 Blake St., an office and retail building occupied by a co-working space and Blake Street Tavern.
