1775 Sherman and 1776 Lincoln | Lincoln Crossing

Another distressed office deal, and another Westside scoop.

Lincoln Crossing, a two-tower office campus at 1775 Sherman and 1776 Lincoln, just sold for $10 million. That’s a staggering 90% drop from the $95.25 million Lincoln Property Co. paid in 2018.

The buyer is Westside Investment Partners, the local firm best known (and sometimes criticized) for the Park Hill Golf Course saga. Lately, they’ve been quietly gobbling up discounted office assets across metro Denver.

Last year, Westside picked up the Campus at Waterview for $27M (down from $66M in 2014) and bought Prentice Point in DTC for $14M (previously $35M).

Now, they’ve added Lincoln Crossing, over 476,000 square feet of largely vacant office space, to their growing portfolio.

At the time of sale, the buildings were roughly 58% occupied with tenants like IASLC, Dinsmore, Subway, and Markus Williams Young & Hunsicker. But the biggest lease was only ~5,200 square feet, echoing the broader office slowdown.

Denver’s vacancy rate now hovers around 20%, with leasing activity down sharply from pre-pandemic levels.

Interestingly, 1775 Sherman was identified by the City of Denver and Gensler as one of the top candidates for a potential office-to-residential conversion, scoring a 91% compatibility rating. Features like its stepped form, unobstructed curtain walls, and proximity to transit make it well-suited for adaptive reuse.

Whether Westside will pursue a conversion hasn’t been disclosed — but the potential is very much on the table.