Austin investment firm drops nearly $2 million for bail bond buildings near Denver jail
A real estate investment firm based out of Austin, Texas spent $1.99 million this summer for a pair of office buildings in Denver’s up-and-coming Golden Triangle neighborhood.
The buildings near the southeast corner of Delaware Street and West 13th Avenue used to house two of the handful of bail bond companies located south of the nearby Van Cise-Simonet Detention Center.
Instant Colorado Bail Bond operated out of 336 W. 13th Ave. until last year. Argyle Golden Triangle Land LP bought the building for $1.35 million in August.
Argyle paid $640,000 for 324 W. 13th Ave. in July. The space formerly housed Details Investigations and Bail Bonds.
It’s unclear what Argyle plans to do with the two buildings or if the company wants to purchase the office its properties sandwich at 328 W. 13th Ave.
Argyle Golden Triangle Land LP is registered to the same address in Austin as the real estate investment firm Cypress Real Estate Advisors.
Cypress didn’t immediately return a call from Denverite on Thursday afternoon. According to its website, Cypress developed the Yards at Denargo Market apartment complex in Five Points and redeveloped The Stapleton Plaza Hotel in Stapleton.
This summer’s purchases were not the first developer interest along Delaware Street or what some call bail bonds row.
Last year, Denver-based Revision Real Estate LLC scooped up the buildings at 1331 and 1337 Delaware St. for $1 million each. In March, Revision purchased the office at 1317 Delaware St. for $350,000, according to city records.
Reporter Andrew Kenney contributed to this report.
Business & data reporter Adrian D. Garcia can be reached via email at firstname.lastname@example.org or twitter.com/adriandgarcia.
Subscribe to Denverite’s newsletter here bit.ly/DailyDenverite.