(DENVER) – Hines, the international real estate firm, announced today that Savills Studley, the commercial real estate services firm specializing in tenant representation, has occupied 8,448 square feet on the 23rd floor at 1125 Seventeenth Street in Denver.
In January, Hines in partnership with Pearlmark and another institutional investor acquired 1125 Seventeenth Street, located at the gateway to LoDo, a prime location for office tenants with easy access via road and rail.
A major renovation of the property is currently underway, which will include complete lobby renovation, addition of tenant lounge, conferencing facilities and outdoor space, spec suite program and many other upgrades. The renovation is expected to be complete in the first quarter of 2018.
“We are very pleased with Savills Studley’s long-term commitment to the building and are eager to provide them with the highest level of service. We are excited about the significant renovations we are making to the building and having a real estate firm with the credibility of Savills Studley take space in the building certainly validates that,” said Jay Despard, senior managing director for Hines.
“With the commitment by ownership to invest heavily in upgrading the building and the unparalleled professionalism of Hines in management, this property permitted us to mesh our new culture and forward leaning ethos with a building that is being re-energized. The space is incredible and we feel that our new look is a nice match with the new look coming to 1125 17th,” said Rick Schuham, central region lead for Savills Studley.
Other notable tenants of 1125 Seventeenth Street include Halliburton, JPMorgan Chase, Optiv and Physician Health Partners.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service. The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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. Visit www.hines.com for more information.
Chicago-based Pearlmark is a private equity real estate investment firm that pursues domestic, value-added and core/core-plus strategies through institutional commingled investment vehicles and separate accounts. Since its inception in 1996, the firm has made more than 500 office, industrial, retail, multifamily, and mezzanine loan investments nationwide, representing a gross investment of over $13 billion. Pearlmark and its partners, including insurance companies, public and private pension funds, foundations and endowments, banks, corporations, and high net worth individuals and families, have committed over $5.0 billion of equity capital to the firm’s investment activities. The company currently employs approximately 20 professionals. For more information, please visit www.pearlmarkrealestate.com.