A veteran Denver commercial real estate broker warned elected Denver officials in December of 2023 to scrap their plans to buy the Denver Post building for $88.5 million. The broker said at the time “there is no justification” for paying about $290 per square foot for the building as downtown vacancy rates were increasing, more and more high rise owners were defaulting on their loans and building after building was headed for foreclosure.
But the city of Denver bought the building anyway in early 2024, and the largest tenant in the building, DP Media Network LLC, stopped paying rent in August 2025 and has now failed to pay rent and late payments totaling about $3.5 million.
DP Media Network LLC has said it wants to renegotiate its lease with Denver. The city and DP Media Network are now embroiled in a court battle, according to the city.
“It was buying an asset when the market is clearly stating that this is not the time to buy at this price,” said William Lucas, managing director with Cushman Wakefield, an international real estate company…