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DENVER-The Denver Tech Center has sold a Class A office building for $16.8 million, or $187 per sf, the highest per sf price for an office building along the Southeast Corridor in more than 15 years. An unidentified California company bought the 89,895-sf Crescent V building in the heart of the Tech Center.

The building was the last in the mixed-use Crescent Town Center developed by the Tech Center. The campus also includes restaurants and hotels, in addition to office buildings.

Peter Culshaw, president of the Tech Center, describes Crescent V as the ”last piece of the puzzle,” completing the design for the center.

The four-story building was designed for maximum flexibility, he adds.

The entire town center has about 600,000 sf of space.

Peter Savoie, the Cushman Realty broker who sold the building, says the buyer was making a 1031 exchange. He says little else is known about the buyer, which he thinks represents pension fund money.

He adds the building sold for a near-record price because it is 100% occupied by telecommunications company TouchAmerica, which has a 10-year lease. He says the building tops previous sales in the latest cycle by $10 to $15 per sf.

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