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Page 22 — Office Properties Quarterly — March 2018 www.crej.com DEBT PLACEMENT | INVESTMENT ADVISORY | EQUITY PLACEMENT | FUNDS MARKETING | M+A & CORPORATE ADVISORY | LOAN SALES | LOAN SERVICING HFF DENVER | 1125 17th Street, Suite 2540 | Denver, CO 80202 | (303) 515-8000 | hfflp.com Holliday Fenoglio Fowler, L.P. (“HFF”) a licensed Colorado real estate broker. ON THE MARKET 5555 GREENWOOD PLAZA BOULEVARD Property Sale 13.1 Acres Land Greenwood Village, CO ON THE MARKET 3500 BLAKE Equity Placement Mixed-use: Multi-housing – 193 Units Office – 125,000 RSF Retail – 14,000 RSF Denver, CO ON THE MARKET CHERRY CREEK PLACE III Property Sale Office 107,364 SF Aurora, CO CLOSED FEBRUARY 2018 KOKO PLAZA Property Sale Mixed-use: Retail & Office – 34,174 SF Louisville, CO ON THE MARKET CHURCH RANCH 2 Property Sale Office 63,057 SF Westminster, CO ON THE MARKET 1600 GLENARM Property Sale Mixed-use: Multi-housing – 333 Units Retail & Office – 29,814 SF Denver, CO thought to be a passing trend, these spaces are becoming increasingly popular and for good reason. These concepts provide operational flexibil- ity for tenants that traditional office spaces simply can’t offer. In addition to built-in community and top ame- nities fitting for a modern workforce (think kombucha on tap), these spaces also offer month-to-month leases and various space configurations that can accommodate a company’s present and future needs. Regardless of how tenants choose to move forward in this new landscape, it’s becoming increasingly clear that they are not necessarily going to stick with the status quo. Tenants need real estate options that allow them to con- tinue growing their companies while still being fully engaged members of Denver’s business community. ▲ Cullen Continued from Page 11 nities, sustainability and improved infrastructure to meet the needs of employers and their workforces. Working with the ownership group of UBS Asset Management and the property management team of Cush- man &Wakefield, TIAA recognized that the repositioning of the prop- erty was the opportunity to grow- in-place while still providing a best- in-class facility for its employees and customers. In early 2016, TIAA renewed its lease in 1670 Broadway and, when interior renovations are complete, will occupy about half of the total square footage in the build- ing. TIAA is using the new podium and atrium space to upgrade its conference space and cafeteria, which serves the entire building and adjacent properties, and added an employee-use fitness center. TIAA will have an added street-level pres- ence. This retail presence will high- light the firm’s brand while showing its commitment to the people it serves by making TIAA more acces- sible. TIAA is excited about the work being done in 1670 Broadway as it reaffirms our century-long com- mitment to Colorado and to the employees of TIAA that call Colorado home. ▲ Dunn Continued from Page 12 businesses at all stages and from all industries – a key indicator of economic stability and an opportunity for further growth in the center city. The growth of our center city hasn’t happened by accident. It is the result of our region’s commitment to a strategy – a commitment to the vision elements of the Downtown Area Plan. Long-term vision and planning lead to this growth and allows us to leverage the power of an economically powerful center city. As a community, we have been intentional and strategic in guid- ing Denver’s growth. We have been intentional about attracting millen- nials. And we have been intentional about building a culture of innova- tion and entrepreneurship that cre- ates a strong startup scene. • We know millennials want to be part of building a vibrant, eco- nomically powerful center city as evidenced by the more than 1,000 people in our CityBuild program. • We know our workforce is highly skilled – we are one of only four states in the country where software engineer is the most prevalent job. • We know Denverites are starting more companies, with over 20,000 people attending Denver Startup Week and The Commons on Cham- pa innovation hub at near capacity. • We know investments in mobil- ity, education, our parks and inno- vation are providing tremendous return on investment. Through all of this, we know we cannot grow complacent. As the Downtown Denver Partner- ship moves to the second half of our 20-year downtown strategy, we are focused on executing a place-based economic development strategy, aggressive talent attraction and retention strategies, and an innova- tion and technology agenda that transcends every business within every industry. Denver has earned this recent, robust growth. We deserve to be on any great company’s short list of places to grow or locate. We are win- ning these projects because these companies see we have built a great product, a great center city. And they want to come build with us. ▲ Door Continued from Page 13 downward pressure on parking rate growth. While engaging a competitive parking operator could be a good resource to assist with your evalu- ation, remember it has an ulterior motive in that typically it will per- form its review with a strong moti- vation to unseat your current park- ing operator. You also could turn to a parking consulting firm. As you eval- uate its expertise, it’s important to understand the depth of knowledge. Although superior in technical and engineering expertise, many have never owned or operated a parking facility where they had their own money invested. When your own personal dollars are on the line, you operate a park- ing facility much differently than if you were earning a management fee. This is a distinction that most owners miss when hiring a parking consultant. It’s time to make sure your garage is positioned for the future so it does not impair the value of your office asset for a future refinancing or sale. ▲ Bawolek Continued from Page 17