Opus' development site, 1400 Wewatta St., sits across the streetfrom Pepsi Center, bordering Speer Boulevard and Cherry Creek. Thethree buildings would have a combined 300,000 sf of office spaceplus retail and residential components. The architect is ChrisShears of Shears Atkins Architects. The building will have brick,glass and stone finishes.

Marshall Burton, Opus Northwest's vice president of development,tells GlobeSt.com that the company is prepared to develop thebuilding on a speculative basis, but based on current activityexpects to have some significant prelease commitments in place bythe time the project gets under way in January. Full-service askingrates are $30 to $35 per sf per year, including a $35 per sftenant-improvement allowance."Downtown is the healthiest market inMetro Denver, especially Lower Downtown," Burton says. "Vacancy isabout 5%; if you're a tenant with 20,000 sf or more, there's justno options."

Interest in the Lower Downtown area is high in part due to theredevelopment of Union Station, which will become the city'sprimary transportation hub, connecting commuter rail, light railand buses. Earlier this week, Hines said it is developing a300,000-sf, eight-story office building at the southwest corner of15th and Wynkoop streets in the Lower Downtown area that also willbe completed in late 2008. Designed by Hartman-Cox Architects, ittoo will have brick and glass finishes.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.