
The organization paid $5.85 million for the site along Delaware Street in 2021.
The organization paid $5.85 million for the site along Delaware Street in 2021.
It’s the second recent sign of trouble for the Fous Property Group, led by CEO Bahman Shafa.
The company behind the bar and music venue paid $1.35 million last week for just shy of an acre along South Broadway.
“We really feel like this is a fair resolution to the difficult situation our customers have been in,” a spokeswoman for Community Planning and Development said.
Adjacent medical office buildings in the DTC sell to the same firm, and an auto repair chain buys land in Littleton.
The buyer is affiliated with a family-owned oil and gas firm headquartered two blocks away.
The developer is currently building a 100-story tower in Miami featuring similar branding.
The property is at the southeast corner of the 6th Avenue/Union Boulevard interchange and has been part of the Denver Federal Center.
That’s 80 percent of what 143 Union fetched in 2015.
“We led with all the constraints,” Matt Joblon said of his pitch to property owner Invesco.
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