(DENVER) – Hines, the international real estate firm, held a groundbreaking ceremony celebrating the start of construction of 1144 Fifteenth, a new 662,000-square-foot, Class A office tower in Denver, located between Arapahoe and Lawrence Streets. The 40-story project will be the first office building of this height built in nearly three decades, and once completed, will be one of the tallest office buildings in Denver.
“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,” said Jay Despard, Hines managing director.
Designed by the acclaimed architectural firm Pickard Chilton, the project will consist of 27 floors of office space atop a 13-story podium comprising retail, restaurants, and a state-of-the-art, 5,000-square-foot fitness facility. The stunning structure will be clad in high-performance glass and aluminum curtain wall and will feature floor-to-ceiling glass, 25,000-square-foot, highly efficient floor plates, and 10-foot ceilings on typical floors.
“Pickard Chilton and Hines have an exceptionally successful track record of developing best-in-class office projects in North America. This project will provide the high level of quality expected from a new Hines office building, and we are pleased to be delivering the next landmark office tower in Denver,” added Hines Senior Managing Director, Charles Elder.
“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,” added Despard.
Hines is building the tower as a 100 percent speculative project, which is a testament to the strength of the Denver market and the firm’s confidence in its future growth. Hines has retained Jones Lang LaSalle (JLL) to head the leasing assignment. Construction is scheduled for completion in January 2018.
Added Barry Dorfman, President of the Rocky Mountain Region for JLL, “To attract and retain the best and brightest talent, corporate users are demanding best in class assets with modern amenities in irreplaceable locations. With this project, Hines will deliver this to the Denver market for the first time in over 30 years.”
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 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.