Opus Gets Site for 250,000-SF EPA HQ

It then turned around and flipped the 56,907 sf-site to Opus Northwest for close to $12.1 million, says Terry Matthews, a broker with Fuller and Co. She and Art Seiden, also of Fuller, have represented the US Postal Services for the past four years. Hines has an option on the remaining parcel until 2006, although there are incentives for it to close on it earlier, Matthews explains to GlobeSt.com.

Hines will tear down the huge, 487,295-sf annex building. The demolition will be completed in March, Matthews says. Then, Opus will build a nine-story, 250,000-sf structure on the site. It will likely be a silver rated LEED certified building, making it the most sustainable and environmentally friendly building Downtown, according to John Shaw, who heads the Denver office for Opus.

Philip Ruschmeyer, who represented Hines with fellow Frederick Ross broker Nathan Johnson, says removal of the annex building will be a huge benefit to the already trendy LoDo submarket, as well as theRiverfront Neighborhood on the other side of the tracks. He notes that the annex building, in effect, separates the Gates Rubber world headquarters building in Riverfront, but when the annex comes down it will effectively remove a barrier between the two areas.

"I think it will be great for the neighborhood," Steven Shores of Hines tells GlobeSt.com. On the other parcels, Hines plans a mixed-use development with office, retail and housing. However, the office space needs substantial preleasing, as Hines won't build a spec building, he says. He is in discussions with several tenants, but he says he can't yet identify them.