Trophy Downtown Denver Office Building Trades in Landmark Deal

Photo by Havey Productions

DENVER – Downtown Denver’s premier office tower, 1401 Lawrence, has traded hands. The new construction, 309,988-square-foot Class AA office tower is located adjacent to Larimer Square and the Four Seasons hotel at the convergence of Denver’s lower downtown (LoDo) and Central Business District. CBRE Capital Markets Institutional Properties, represented the seller, First Gulf Corporation of Toronto, which also developed the property. The buyer, an affiliate of Heitman LLC, based in Chicago, purchased 1401 Lawrence for an undisclosed price, in a sale that closed Wednesday, Dec. 20.

Completed in the fourth quarter of 2016, 1401 Lawrence is the newest high-rise office tower in Denver’s Central Business District. First Gulf strategically designed the award-winning 22-story property to accommodate the needs of both traditional and collaborative office users. The LEED Gold-Certified building features 10-foot finished ceilings with floor-to-ceiling windows, outdoor terraces and balconies, 360-degree views from every floor including unobstructed panoramas of the Rocky Mountains, an exterior glass façade, state-of- the-art building systems and a seven-story above-grade parking garage.

“1401 Lawrence is one of the most visible and stunning properties on Denver’s skyline. When you factor in the world-class construction, striking mountain views, strong tenancy and highly sought-after location, it created a truly irreplaceable investment opportunity,” said Mike Winn, vice chairman with CBRE Capital Markets, Institutional Properties, in Denver.

1401 Lawrence’s location at the gateway to LoDo provides prime walkability to amenities including Larimer Square, Denver Union Station, Colorado Convention Center, Coors Field, Pepsi Center, premier hotels and hundreds of retailers, restaurants and entertainment venues. Two blocks from the 16 th Street Mall and four blocks from light rail, the property offers direct transit to Denver International Airport via RTD rail service. Its location at the intersection of 14 th Street and Lawrence also affords the best ingress and egress of any CBD office tower, including quick access to Interstate 25.

The property is 98 percent leased to a roster of credit-worthy companies including CoBiz Financial, Jagged Peak Energy and anchor tenant Polsinelli, one of the nation’s fastest-growing law firms.

Image courtesy of CBRE.

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