Real Estate

Coalition Space Enters Denver With Downtown Location

1660 Lincoln St. rises 31 stories in downtown Denver. Image courtesy of CommercialEdge

New York-based flexible office provider Coalition Space will open a new coworking location spanning 16,000 square feet in downtown Denver. The firm signed an agreement with landlord Westport Capital Partners for the space at 1660 Lincoln St., slated to open in January 2024.

The location will be on the building’s 20th floor and will comprise flexible desks, dedicated desks and private offices, along with conference rooms. Amenities at the dog-friendly location will include a fitness center, coffee shop, arcade and an equipped kitchen.

Completed in 1972, the building spans 274,582 square feet across 31 stories. The owner acquired it in 2018 for $67.2 million, according to CommercialEdge data. In 2021, the property became subject to a $53.5 million three-year bridge loan from Franklin BSP Realty Trust, the same source shows. Tenants at the tower include Unico, Mill Creek Residential and CIG.

Located in the metro’s downtown, 1660 Lincoln St. is close to the Metropolitan State University of Denver and St Joseph Hospital. It is also within walking distance of the 16th Street Mall.

As of November, Denver’s vacancy rate reached 21 percent, representing a 2.3 percent year-over-year increase and above the national figure of 18.2 percent, according to a recent CommercialEdge report. The average listing rate in the metro was $30 per square foot, marking a 1.3 percent increase over 12 months and below the national average of $38, the same source shows.

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