Denver Office Tower Goes to Auction at $750,000
Owners of aging downtown Denver office space are accepting deep losses, with some towers now selling at about 90% below pre-pandemic prices.
Updated on Nov. 3, 2026 in Commercial
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A 16-story office tower on 17th Street in downtown Denver is listed for online auction on Ten-X with a $750,000 starting bid. The sale runs from Monday, November 2, 2026, through Wednesday, November 4, 2026.
Why it matters
Some owners are cutting their losses as a record amount of empty, outdated office space hangs over downtown Denver. Denver office buildings are selling at a 90% discount to pre-pandemic prices, so the final price will likely be a fraction of the $26 million the current owner paid in 2015.
The 16-story building was built in 1975 and sits across from the Brown Palace Hotel. The Downtown Denver Development Authority denied funding to convert it into apartments, and the county assessor estimates its worth at $7.6 million.
The players
Ten-X
An online commercial real estate marketplace, originally known as Auction.com and now owned by CoStar Group, that runs fast online property auctions.
Downtown Denver Development Authority
The Denver agency that denied funding to convert the office tower into apartments.
The details
Ten-X, an online commercial real estate marketplace originally known as Auction.com and now owned by CoStar Group, is running the sale as a fast auction. Ten-X set the $750,000 starting bid to spark interest in the property. Bidding opens Monday and closes Wednesday, so the final price will be set within a few days.
Timeline
1975: The 16-story office tower is constructed on 17th Street.
2015: The building is purchased for $26 million.
Monday, November 2, 2026: The online auction begins on Ten-X.
Wednesday, November 4, 2026: The online auction ends.
The Home Front
Denver office buildings are selling at a 90% discount to pre-pandemic prices, a sharp decline that signals a downtown office market still searching for a floor. The auction reflects a broader pattern of owners selling older towers at deep losses rather than waiting for demand to recover.
If you rent or own near downtown Denver, a glut of discounted office space may mean more vacant storefronts and softer foot traffic on nearby streets. If you are considering buying commercial property, speak with a licensed commercial broker or attorney before bidding on any auction listing.
The takeaway
Downtown office values have fallen sharply, so sale prices can sit far below what owners paid in prior years. Before following any auction, confirm the terms and the property's condition with a licensed professional.
Further reading
For more on how the downtown office slump is reshaping property deals, explore Commercial real estate coverage for Denver.
Source note: This article includes information reported by Colorado Public Radio.
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