Hines to Build New 40-Story Office Tower in Denver
- Jun 25, 2014
By Gabriel Circiog, Associate Editor
Hines recently announced plans to build a new 40-story office tower in Denver. The new construction will become the first office building of this height built in nearly three decades and, upon completion, will be one of the tallest office buildings in Denver.
Located at 1144 Fifteenth, between Arapahoe and Lawrence Streets, the 640,000-square-foot, Class A office building will feature numerous in-building amenities including a state-of-the-art, 5,000-square-foot fitness facility; an auto detailing service in the parking garage; and ground floor retail. The premier high-rise office building will be situated in the heart of Denver’s amenity-rich LoDo area, adjacent to the Four Seasons hotel and condominiums, just one block away from Larimer Square.
“We are very excited about introducing this new icon to the Denver skyline. 1144 Fifteenth will set a new standard for Denver’s high-rise office space and enhance our city’s urban experience. It has been nearly three decades since Denver has received an office tower of this size and scale. We strongly believe that the quality and location of this building will be appealing to a wide range of tenants and ultimately, once finished, we feel this will be the premier asset in all of the Rocky Mountain west,” stated Hines Managing Director, Jay Despard.
Designed by Pickard Chilton, the building will feature 25,000-square-foot floor plates, 10-foot ceilings on typical floors, floor-to-ceiling glass and the best parking ratio of any high-rise Class A office building downtown.
“With all of our equity funding now in place, we are building this project on a purely speculative basis, which is a testament to the strength of the Denver market and our confidence in its future growth. We plan to own this building for a long time, and will be delivering the high level of quality expected from a new Hines office tower. Pickard Chilton and Hines have an exceptionally successful track record of developing best-in-class office projects in North America, and we are pleased to be delivering the next landmark office tower in Denver,” said Hines Senior Managing Director, Charles Elder.
Construction will begin in May 2015 and will be completed in December 2017. The lead broker of the project is Peter Schippits with JLL.
Click here for more market data on Denver.