Construction is in full swing on the 22-story office tower known as 1401 Lawrence in downtown Denver. The ground breaking for this project took place on October first last year. The building will include 13 stories of leasable office space that will sit upon a 9 story parking podium.
The project is being developed by the Canadian developer First Gulf, the commercial division of Great Gulf Corporation, one of Canada’s leading high-rise residential companies.
This is not the first project planned on this site. In 2006 Great Gulf unveiled plans for a 55-story residential tower. A one story sales center complete with a model residential unit was constructed on the site at a cost of over a million dollars. As the economic recession hit, the residential project was cancelled thus making this a prime site available in this cycle of office development.
Denver Urban Review had a phone interview with Jeff Castleton, Executive Managing Director of Newmark Grubb Knight Frank- the firm that is marketing and leasing 1401 Lawrence.
Castleton stated, “the reason why we decided to move forward with an office project at this site is because the office market in the central business district, specifically LoDo is white hot and with Denver’s $14 million public and private partnership improvements to the streetscape along 14th Street, we have identified this as downtown’s premier development opportunity. ”
Ground floor retail has also been incorporated into the structure. Space will exist for a 9,000 square foot restaurant and a coffee shop.
National law firm Polsinelli has signed a 15-year lease to become the signature tenant of the building.
“Being the lead tenant in this new building in the heart of downtown represents our continued involvement and commitment to the Denver business, civic and philanthropic community,” said Gene Commander, Denver office managing partner and shareholder of Polsinelli. “We’re proud that Polsinelli continues to grow and expand to meet the legal needs of companies and clients throughout our region. It’s an exciting time for our city and all of the attorneys and staff at our firm.”
The amenities of the building will include:
- Unique outdoor space on the 9th floor for tenants
- A fitness facility with locker rooms and showers
- Unobstructed panoramic western views from every office floor
- Efficient 22,010 square feet floor plates
- 10 foot ceilings with floor to ceiling glass
“We really see this location as being downtown Denver’s new front door. 1401 Lawrence is located at a site that will allow easy access by car as well as pedestrian access to light rail and the 16th Street mall shuttle. A distinct advantage to our building is the neighborhood. Located adjacent to Denver’s preeminent retail offering in Larimer Square and arguably Denver’s best hotel in The Four Seasons, 1401 is the final element of the Masterpiece that many consider one of the hippest areas of downtown. We are targeting a LEED Gold rating and have included ample secure storage space for bicycles supporting Colorado’s active lifestyle,” said Castleton.
Completion of the building is slated for June of 2016 and the architect is the Beck Group. Castleton stated that it will be exciting watching the building rise fairly quickly as the parking podium is above grade.