Development

Hines Purchases Denver’s U.S. Bank Tower

DENVER Hines recently acquired the U.S. Bank Tower in downtown Denver on behalf of a South Korean investor for $194.23 million, according to public records.

Tim Richey, Mike Winn, Charley Will, Chad Flynn, and Jenny Knowlton of CBRE Capital Markets, Institutional Properties represented Ivanhoe Cambridge and its partners in the sale.

A premier Class A tower located in the heart of the Central Business District, U.S. Bank Tower is a 26-story, 531,608-square-foot property situated on nearly a full city block and features a coveted 17th Street address while also boasting 16th Street Mall frontage. The tower was completed in 1975. Minoru Yamasaki & Associates designed the building and it is currently the 19th tallest in Denver.

US Bank Tower’s unique attributes include its irreplaceable location, 9 foot finished ceilings, efficient 20,000-square-foot rectangular floorplates, below-grade and attached parking garage with an above-market parking ratio, strong credit tenancy, and incredible 360-degree mountain and city views.

US Bank Tower was sold on December 19, 2018.

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