Novel Coworking Buys Second Denver Building For $40 Million

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Novel Coworking has bought a 17-story building for $40.2 million, its second building purchase in Denver.

Trinity Place is roughly about 198,000 square feet and its existing vacancy, the biggest selling point for the company, will be transformed into a coworking space.

Current tenants including Bank of Colorado and REI Structural will remain in the building until the end of their lease.

Currently, the Chicago-based company has locations in 22 cities across the country and typically owns its locations, rather than leasing, setting it apart from other coworking operators. Sales manager Hayley Rogers also said Novel currently controls 2.4 million square feet.

“We are the largest owner-operator of coworking space in the country,” said Rogers.