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GSA to sell nearly 31,000 SF of Denver garages in Five Points
Bidding starts at $120,000 for each garage, and the sales are expected to eliminate $5B in annual operating costs and delinquent maintenance, according to the GSA.
The U.S. General Services Administration plans to sell two garages it owns in Denver’s Five Points neighborhood, totaling nearly 31,000 square feet, as part of a broader effort to reduce costs tied to property maintenance and underutilized federal space, Bisnow reports. One property is a two-story, 19,000-square-foot garage at 2106 California St., and the other is a one-story, 12,000-square-foot garage at 2101 Welton St. Bidding for each site is set to start at $120,000.
Bisnow says the GSA is targeting delinquent maintenance costs and expects the sale of these buildings, including the Denver properties, to eliminate $5 billion in annual operating costs and delinquent maintenance. The outlet also notes GSA listed additional buildings across the country for sale.
Beyond the federal listings, Bisnow’s Denver deal roundup includes Grand Peaks hiring executives for its multifamily platform, The Current in Denver’s River North Art District reaching 63% occupancy after new leases, and related development and financing activity across the metro area.