Two Colorado TV stations now own their broadcasting studio.
Nexstar Media Group, owner of local news stations KDVR-Fox31 and KWGN-2, purchased 100 E. Speer Blvd. for $22.25 million on Wednesday, public records show.
The 108,000-square-foot broadcast studio at the corner of Speer and Fifth Avenue fetched $209 per square foot.
The sale comes at a slight loss for the seller, Seattle-based Urban Renaissance Group, which bought it for $23 million in 2017.
URG did not respond to a request for comment. The company’s Denver holdings have been dwindling. It recently surrendered 2399 Blake St. to a lender and lost LoDo’s Market Center to foreclosure. But the company still owns 2301 Blake St. and office buildings in Broomfield.
Nexstar declined to comment. The broadcasting giant acquired the stations as part of its $4.1 billion acquisition of Tribune Media Co. in 2019.
The broadcast studio building was completed in 2000 by KDVR, which bought the land two years earlier for $1.3 million, records show. Parent company Tribune sold the property to URG eight years ago and signed a long-term lease for the news stations. That lease was recently extended through 2034, according to a listing brochure.
Across the street, at 123 Speer Blvd., is the former site of fellow news station Denver7. That building is being demolished to make way for apartments. Denver7 migrated north to RiNo last year.
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