(DENVER) – Hines, the international real estate firm, announced today that Chipotle Mexican Grill (NSE: CMG) has signed a 152,000-square-foot lease to relocate its headquarters to 1144 Fifteenth Street, a new 40-story, Class AA office tower totaling 671,101 square feet in downtown Denver.
Chipotle will occupy floors 20 through 24 with options to add additional space to accommodate future growth. The 15-year lease will allow Chipotle to accommodate all 450 Denver-based employees in one location. The office will feature a large employee lobby and social area, anchored by a grand staircase that connects two of the floors. Move-in is slated for late 2018.
“Chipotle first started in Denver almost 25 years ago, as a single restaurant on Evans Avenue across from the University of Denver. Today, we have more than 3,500 restaurants, and more than 450 people who work out of our main office,” said Steve Ells, founder, chairman and CEO of Chipotle. “Our roots are here, and this contemporary, collaborative and modern space will position us to look ahead to the next 25 years.”
“Chipotle is a company that is respected and admired nationwide, and we are proud to add them to our impressive tenant roster,” said Hines Senior Managing Director Jay Despard. “We know that 1144 Fifteenth will offer them the best amenities and resources they need to build a collaborative, open and scalable workplace for their employees.”
Located on 15th Street between Arapahoe and Lawrence Streets, 1144 Fifteenth is the first office tower of its kind to rise above Denver in more than 30 years. The building’s prime location among the cultural and culinary riches of LoDo (Lower Denver) will offer convenient access to the city’s main thoroughfares and Denver International Airport. Designed by Pickard Chilton, amenities include highly efficient floor plates, 10-foot floor-to-ceiling windows with unobstructed mountain and city views and three outdoor terraces. The building will also have destination dispatch elevators, a great-room style collaboration center, a 5,500-square-foot gym and auto detailing service in the parking garage. Construction is expected to complete in the first quarter of 2018.
Other notable Colorado-based companies that will join Chipotle at 1144 Fifteenth Street include: Gates Corporation, Greenberg Taurig, LLP, Optiv Security and Unicom Capital.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.