1415 Park Avenue West
The 23,950 square-foot building at 1415 Park Avenue West represented an opportunity to add another catalytic, income-producing asset to our portfolio. Centrally located on the border of Denver’s River North (RiNo) and Lower Downtown (LoDo) neighborhoods, the building is currently 100 percent net-leased to Thrive at Ballpark, a collaborative co-working office concept that provides small business owners and entrepreneurs with a variety of workspaces in which to collaborate and grow their companies. The building was originally purchased off-market as a vacant warehouse from legacy owners. Tributary led the value-add investment through renovations and lease-up with a short-term equity partner and short-term debt.
- Total square-footage: 23,950
- Purchase price: $3,200,000
- Re-capitalized in April 2017 at $6,800,000