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Investment firm sells off Denver Tech Center office building after 12 years

Andrew Dodson
Investment firm sells off Denver Tech Center office building after 12 years

A six-story office building in the Denver Tech Center traded hands earlier this month for $28.2 million, $50,000 more than what it was purchased for nearly 12 years ago. Principal Real Estate Investors, which is part of the Des Moines, Iowa-based Principal Financial Group (Nasdaq: PFG), sold off Crescent IV, 8400 E. Crescent Parkway, to limited liability corporation tied to Chicago-based Novel Coworking, on Wednesday, June 5, according to property records. The deal for the 134,114-square-foot office building (plus a four-level, 500-space parking structure) works out to $210 per square foot.