Former Colorado Department of Labor and Employment office building up for sale
Colorado is trying to sell an office building in Denver’s Cap Hill neighborhood that was previously used by the state’s labor department.
The three-story building at 251 E. 12th Ave. is just shy of 130,000 square feet and was built in 1957. It sits on an acre between Grant and Sherman streets, two blocks south of the Capitol building.
A spokesperson for the Colorado Department of Labor and Employment said in an email that the department shifted “to more remote work models” in the wake of the pandemic and moved staff from the 12th Avenue building to its main office at 633 17th St. about a year ago.
JLL is marketing the 12th Avenue building for sale. The brokerage’s marketing materials do not list a price but call the property an “excellent Cap Hill location for an owner-user or fantastic redevelopment opportunity for multifamily.”
The site is zoned C-MX-8, which generally allows a mix of uses up to 8 stories. Denver’s assessor values the property at $18.1 million, records show.
A portion of the existing building was once used for parking, according to JLL. It was converted into additional office space in 2003.
Labor department employees who moved from Cap Hill to 633 17th St., meanwhile, are on the move again.
The department is in the process of downsizing into 131,000 square feet at 707 17th St. That’s about a third less than the combined 197,000 square feet the department occupied at 621 and 633 17th St.
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Colorado is trying to sell an office building in Denver’s Cap Hill neighborhood that was previously used by the state’s labor department. The three-story building at 251 E. 12th Ave. is just shy of 130,000 square feet and was built in 1957. It sits on an acre between Grant and Sherman streets, two blocks south…