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July 1-July 14, 2015 — COLORADO REAL ESTATE JOURNAL — Page 33
Office
by Jill Jamieson-Nichols
Downtown Denver isn’t the
city it was when the last sky-
scraper went up 32 years ago,
and its skyline won’t look the
same 2½ years from now.
Hines’ newest speculative
office building – 1144 Fifteenth
– will be among the tallest build-
ings in downtown Denver, a
gleaming glass structure rising
40 stories.
“This will be the most iconic
structure in downtown Den-
ver,” Paul Washington, execu-
tive director of the Denver Office
of Economic Development and
International Trade, said at the
recent groundbreaking for 1144
Fifteenth.
“Downtown Denver is
extremely vibrant, and it’s
because of projects like this that
we continue to be one of the
hottest real estate markets, one
of the hottest economies in the
country.”
The building has been a gleam
in the eye of Hines Manag-
ing Director Jay Despard for a
decade. “I can’t believe it is actu-
ally happening,” he said. “This
is a big deal for everyone who’s
been involved. It’s also a big
deal for Denver.”
Noting that the average down-
town Denver office building is
more than 30 years old, Despard
said 1144 Fifteenth will be like
dropping a 2015 Tesla next to a
1983 Jeep Wagoner.
The 662,300-square-foot build-
ing designed by Pickard Chilton
will feature 27 floors of office
space over a 13-story podium
with retail, restaurants and a
5,000-sf state-of-the-art fitness
facility. Typical floors will have
10-foot ceilings, 25,000-sf floor
plates, and floor-to-ceiling glass.
JLL is heading the leasing
effort.
“To attract the best and bright-
est talent, corporate users are
demanding best-in-class assets
with modern amenities in irre-
placeable locations,” said Barry
Dorfman, president of JLL’s
Rocky Mountain Region. “With
this project, Hines will deliver
this to the Denver market for the
first time in over 30 years.”
General contractor Hensel
Phelps will complete 1144 Fif-
teenth in January 2018.
Hines has been active in
the Denver market since 1982,
developing the iconic Wells
Fargo Center (“the cash regis-
ter building”), 1515 Wynkoop,
1601 Wewatta and other notable
office buildings. It owns and
manages more than 1 million sf
downtown, and in the south-
east suburban and northwest
submarkets.s
Chris Crawford, Gordy Stofer, Jay Despard, Charles Elder, Matt
Greenberg, Michael Bjes and Dave Klebba, all of Hines, break ground
on 1144 Fifteenth.
by Jill Jamieson-Nichols
A private equity firm that
invests in travel and leisure busi-
nesses leased the top floor of a
new, high-profile building in
Cherry Creek.
KSL Capital Partners signed a
10-year lease for 17,564 square
feet on the eighth floor of 100 St.
Paul, a 149,000-sf office building
with street-level restaurant and
retail space.
The transaction brings leas-
ing in the building to 67 percent,
according to Andrew Sturno of
The Pauls Corp., which devel-
oped the building in a joint ven-
ture with FirstBank.
“It’s been a long time coming,
but it’s pretty exciting,” Sturno
said of the building. The devel-
oper broke ground on 100 St.
Paul in 2013, and the first ten-
ant improvements recently got
underway. The building is one of
the first new Class A office build-
ings to be built in Cherry Creek in
more than 25 years.
Other tenants will include First-
Bank, Del Frisco’s Grille and LIV
Sotheby’s International Realty.
The sixth and seventh floors are
available.
Located at the corner of East
First Avenue and St. Paul Street,
100 St. Paul is an iconic LEED
Gold building designed by
HKS Inc. It features a 30-foot-
high lobby; 19,500-sf floor plates;
9-foot, 6-inch ceilings; under-
ground parking; showers and
lockers; secured bicycle storage;
electric car charging stations; and
abundant glass, offering down-
town and mountain views. GE
Johnson is the general contractor.
Nicholas Pavlakovich and Matt
Gautreau of Cushman & Wake-
field of Colorado Inc. are the
listing brokers for the building.
Todd Wheeler, also of Cushman
& Wakefield, represented KSL
Capital Partners in its lease.
Other News
n United Properties has signed
a 13,500-square-foot lease with
Rise Broadband, the nation’s
largest fixed wireless broadband
provider, in Inverness Business
Park.
The office space at 61 Inverness
Drive in Englewood will serve as
Rise Broadband’s corporate head-
quarters and brings the 87,000-sf
building to 96 percent leased.
Rise will relocate from 400
Inverness Parkway. It chose the
new location because of recent
renovations to the building,
move-in-ready space and ample
parking, according to United
Properties.