An affiliate of Chicago-based Heitman LLC has acquired 1401 Lawrence, a premier downtown Denver office tower.
The newly constructed 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 and central business district. Mike Winn, Tim Richey, Chad Flynn and Jenny Knowlton with CBRE Capital Markets, Institutional Properties, represented the seller, First Gulf Corp. of Toronto, which also developed the property.
Completed in the fourth quarter of 2016, 1401 Lawrence is the newest high-rise office tower in Denver’s CBD. First Gulf strategically designed the 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.
Winn, vice chairman with CBRE Capital Markets, Institutional Properties, said, “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.”
The property is 98 percent leased to a roster of creditworthy companies including CoBiz Financial, Jagged Peak Energy and anchor tenant Polsinelli, one of the nation’s fastest-growing law firms.