The Rreef purchase is being applauded by local real estatebrokers. "I think it speaks positively about the market," RonUrgitus, who handled the sale with fellow CB Richard Ellis brokersTim Swan and John Marold, tells GlobeSt.com. "You've been hearing alot of negatives comments on the real estate market recently. Ithink this shows the willingness of buyers to look at Denver, bothin terms of short-term and long-term. This is good news for themarket. People have been waiting for somebody to step in and beproactive."

Brad Neiman, who heads investments for Denver-based Mile HighProperties, which was not involved in the sale, agrees. "It was anunusually high valuation given the current climate," Neiman tellsGlobeSt.com. "Certainly, it must speak to Rreef's faith to theirDenver market and their positive expectations in leasing themarket. These are challenging times right now."

Neiman says any money that TeleTech lost on the sale, it"certainly made up for it on the buy they made for the AT&TBroadband building in Meridian."

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