RiNo office to be converted to retail | Business [Video]

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Sale of RiNo office

Two investment firms bought a 16,000 square-foot office building at 2734 Walnut Street in the River North Art District, the partnership announced Monday.

Denver developer Magnetic Capital and Texas-based Trinity Investors announced they bought the empty office building with plans to convert it into “experiential retail.” Renovations for adaptive reuse building are expected to begin this summer.

RiNo had the highest office vacancy rates in the metro area at 49%, according to CBRE’s first quarter report.

Magnetic Capital’s Dan Huml said they’re tapping into a “popular trend for people who want more activities than just dinner and drinks out with friends” to bring new life to the building. 

The retail building will transform into a hangout space for visitors, he added.

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