(DENVER) – McCaffery, Hines and Ivanhoé Cambridge announced today that they have completed the purchase of a 1.1-acre land parcel at 3500 Blake Street, located in Denver’s burgeoning River North Neighborhood. The property will be developed into a six-story, 250,000-square-foot T3 (Timber, Transit and Technology) office building, which will be one of the most environmentally friendly and sustainable developments in Denver.
Located one mile north of downtown, the River North Art District (RiNo), is Denver's creative hub. Home to artisans, painters, photographers, designers, filmmakers, architects, and “tech” firms, RiNo combines the city's most progressive exhibition spaces with its most dynamic live/work spaces.
The Partnership will work with Pickard Chilton Architects, the team behind notable office projects including Denver’s 1144 Fifteenth Street; 609 Main at Texas in Houston; and Chicago’s River Point. The building will feature a refined industrial, heavy-timber-structured design incorporating art to pay homage to the city’s vibrant and rapidly evolving art district. Designed for collaboration and work/life balance, T3 will offer an exceptional complement of amenities including common social areas; large, private tenant terraces; a modern fitness facility and bike room; 20,000 square feet of retail space and convenient access to the commuter rail system—including Denver International Airport and Denver’s Union Station Transit Hub.
“As one of the most original office properties in the Denver Market, the project is being designed to accommodate the needs of firms who seek creative class workers. These workers are opting to work in an environment which offers proximity to living, dining, entertainment and recreation options, as well as providing easy access to transit,” said McCaffery Senior Managing Director Glen Sibley.
Hines Senior Managing Director Jay Despard stated, “We are excited to partner with McCaffery and Ivanhoé Cambridge to bring this differentiated product with unique architecture to Denver. This project embodies the live, work, play lifestyle that progressive tenants are seeking to recruit and retain today’s knowledge workers.”
Arthur Lloyd, Chief Development Officer, Office, North America and Vice Chairman at Ivanhoé Cambridge added: “We are proud to partner with Hines and McCaffery on this truly innovative project for Denver’s creative and tech business community. T3 will offer a unique, modern and sustainable building solution and work environment to potential tenants and their employees, while enhancing the urban user experience in the neighborhood.”
In 2016, Hines completed its prototype T3 project in Minneapolis. The firm currently has T3 developments underway in Atlanta and Chicago, and announcements are forthcoming for other markets.
About McCaffery Interests
McCaffery Interests is a privately owned, full-service commercial real estate company that has been in the business of investing, developing, leasing and managing real estate for over 25 years. The McCaffery Interests portfolio of planned, completed and managed projects exceeds 20 million square feet and includes office, mixed-use, hotel, and residential properties, as well as large, master-planned communities and land developments. With offices in Chicago, Greater Washington, DC, Pittsburgh and Denver, and controlled assets and completed developments valued in excess of $2 billion, McCaffery Interests is one of the most trusted real estate companies in the nation. Please visit www.McCafferyInterests.com for more information.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 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.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held more than C$60 billion in assets as at June 30, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.