Patrinely Group has signed a 29,867-square-foot long-term lease at Block 162, a 596,295-square-foot Class A office building in Denver’s central business district. Law firm Snell & Wilmer will occupy the building’s 25th floor.
CBRE and Savills represented the tenant, while Cushman & Wakefield negotiated on behalf of the landlord. Since its opening in 2021, 390,000 square feet were leased at Block 162, which is currently 35 percent vacant.
The property, developed in partnership with USAA Real Estate, has received LEED Gold Core and Shell certifications. Its tenant roster includes Matillion, Moss Adams, as well as Haynes and Boone. Brownstein Hyatt Farber Schreck is a majority tenant, with a 103,874-square-foot footprint, according to CommercialEdge. Earlier this year, Sherman & Howard added 12,049 square feet to its initial 60,000-square-foot lease.
Block 162 is a 30-story office tower at 675 15th St. The high-rise features 12 passenger elevators, 29,636-square-foot floorplates, 10,000 square feet of retail space on the first floor and 956 vehicle parking spots, according to the same source. The property’s office space is spread across floors 11 through 30, and includes column free design.
The amenity area, located on the 11th floor, features a fitness center with lockers and private showers, a roof garden with seating areas and fire pits, a social lounge, as well as a 2,800-square-foot conference and meeting area, while the building’s outdoor sky terrace offers an outdoor conference space and two fire pits.
The all-glass tower is close to Interstate 25 and to multiple railway and bus stations, 4 miles from Cherry Creek Shopping Center, 16 miles from Aurora, Colo., 21 miles from Denver International Airport and within 28 miles of Boulder, Colo.
CBRE’s Executive Vice President Chuck Nixon and Savills’ Chairman Rick Schuham represented the tenant. Cushman & Wakefield’s Vice Chairman Todd Wheeler and Executive Managing Director Doug Wulf, with the assistance of Patrinely Group’s Executive Managing Director Dennis Tarro, negotiated on behalf of the landlord.
Significant office deals in Denver
Earlier this year, Cushman & Wakefield brokered another notable office lease in Denver, when landlord Drawbridge Realty signed a 69,154-square-foot long-term commitment at Greenwood 4, a 100,338-square-foot building in Greenwood Village, Colo. The tenant, engineering and architecture firm Merrick & Co., inked a 12-year agreement, bringing the property’s occupancy to 97 percent.
In June, Kaiser Permanente signed a 120,979-square-foot renewal at Greenwood Plaza, an office campus in Eaglewood, Colo. The firm has been an anchor tenant at Franklin Street Properties’ two-building asset since 2013.
In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.
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Read MoreBrokerage, Denver, News, Office, West, CBRE, Cushman & Wakefeld, Patrinely Group, Savills, USAA Real Estate Commercial Property ExecutiveLaw firm Snell & Wilmer will occupy the building’s 25th floor.
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