The University of Colorado is now officially the owner of Independence Plaza, an aging office tower in the heart of downtown Denver.The university’s Board of Regents closed on the purchase of 1050 17th St. on Monday for $27.95 million, about $2 million cheaper than the expected sales price mentioned in June when the board approved buying the building, according to property records.The new building will help expand the campus into downtown and create an innovation hub, to both spur new jobs downtown and bring students closer to job opportunities.
“We take seriously our incredible responsibility as an urban-serving institution by being deeply connected to our city and region, which we’re doing today through establishing this location,” said CU Denver Chancellor Kenneth T. Christensen at a news conference inside Independence Plaza on Wednesday.
The building sold at an 80% discount from its last sale in 2007, when it was worth $144 million. Independence Plaza has joined a growing list of office towers in downtown Denver selling for cheap after the pandemic spurred a wave of businesses downsizing or leaving their offices across the nation.
The Skyline Urban Renewal area — a micromarket around Skyline Park — had about 42% office vacancy in the second quarter of 2026, according to data from commercial real estate firm CBRE…