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DENVER-In a case where it indeed was cheaper to buy rather than rent, a limited partnership controlled by local advertising guru Terry Barnhart has paid $4.5 million for a 27,000-sf building at 1819 Wazee St. in Lower Downtown. In the mid-1990s, the building housed Wazoos, a restaurant/bar a block from Coors Field.

At first, it was one of the hottest joints in town, but its popularity suffered from newer competition and it quietly closed its doors last year.

Soon after that, Barnhart, who heads Barnhart/CMI Advertising, Public Relations and Interactive, signed a $5 million, 10-year lease with an option to purchase. Ten months later, after investing $2.4 million in renovations, he bought the building. The agency plans to start moving into the space in September.

Brokers on the deal included Doug Wulf and Joe Sigdestad of Fuller and Co., which represented 1819 Wazee LLC, the Barnhart entity that bought it. Todd M. Wheeler of Cushman & Wakefield represented the seller, Folsom LLC.

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