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DENVER-Legacy Partners has broken ground on the 290,000-sf, $65-million Legacy Plaza office building in the Central Platte Valley, the former railyards behinds Downtown. The building at 15th and Wewatta streets is the largest office building to break ground in downtown since 1999 Broadway opened in 1986.

It may be the only spec office building to go forward at this time, given the softening economy and fear of more subleased space will be dropped on the market.

The building is scheduled to open in January 2003.

Kennedy & Associates arranged the financing from the Washington, DC-based Multi-Employer Property union pension fund.

Legacy is anticipating lease rates of $24 per sf, plus expenses estimated at about $8 per sf.

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