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Granite Properties pays $71M for Denver office tower

Granite Properties Inc. purchased the Regency Plaza office building in the Denver Technology Center for approximately $71.3 million, the Colorado Real Estate Journal reported.

The 15-story tower, totaling 319,000 square feet, at 4643 S. Ulster St. was sold by real estate investment manager Barings on behalf of institutional investors.

Granite plans certain upgrades at the property, which is 93% leased, according to the report.