Wells Fargo took the building back from New Global Telecom after the company filed for Chapter 11 reorganization under the federal bankruptcy laws. New Global lost the building, but emerged from bankruptcy.
The building anchors Clear Creek Square, a mixed-used New Urbanism redevelopment project by the Golden Urban Renewal Authority.
Doug Dragoo, principal of Golden Opportunity, says he is looking for other investment opportunities in the Denver area.
Len McBroom of McBroom Co., expects to lease the building over the next 18 months. The average office rates are $14 to $16 per sf, while the retail is going for $16.50 to $20 per sf.
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