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Brookfield Properties to buy Seventeenth Street Plaza

An article from the Denver Business Journal, reports that according to real estate professionals familiar with the deal, Brookfield Properties Corp. has downtown Denver's Seventeenth Street Plaza high-rise office building under contract for roughly $225 million. The building, currently owned by JP Morgan Chase & Co., is one of Denver's largest office properties at 666,653 square feet in 33 stories and is located across from the Tabor Center. Brookfield already owns the 1.2 million-square-foot, 56-story Republic Plaza and hopes to develop an office building behind the Denver Pavilions mall. Denver investment brokers said JP Morgan put the Seventeenth Street Plaza up for sale earlier this year with an asking price of $385 per square foot, or roughly $250 million.

Posted Monday Jun 23

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