Denver Tech Center Office Tower Acquired by Colorado Firms

Two Colorado-based commercial real estate companies, Real Capital Solutions (RCS) and Dunton Commercial, have acquired the Terrace Tower in the Denver Tech Center. The 243,000 square foot Class-A office building, located at 5619 DTC Parkway in Greenwood Village, was purchased on October 9 for an undisclosed amount. This transaction represents the first time the property has changed hands since 2012, when it sold for $37.8M to Sun Life Assurance Co. of Canada, according to Arapahoe County records.

The buyers stated they acquired the tower "at a fraction of replacement cost," aligning with RCS's strategy to target high-quality assets with durable cash flow below replacement cost. Built in 1984, the 12-story building underwent $10M in capital improvements in 2021, including lobby, fitness center, and system upgrades. At the time of sale, Terrace Tower was 72% occupied, consistent with the broader Denver metro occupancy rates. Dunton Commercial will manage leasing and operations for the property.

This acquisition is RCS’s 15th office purchase since 2024, contributing to its goal of acquiring discounted office properties nationwide through its new $400M investment fund. The deal reflects the ongoing market conditions where office buildings are selling at discounts due to high vacancy rates and rising interest rates, creating opportunities for selective investors.