Shorenstein Inks Office Lease in Denver

Image by Aron Yigin via Unsplash.com

McCarthy Building Cos. has signed a 13,000-square-foot office lease at a recently developed 250,402-square-foot Class A office property in Denver. The construction company will double its footprint in the area. JLL negotiated on behalf of the tenant while Newmark represented the landlord, Shorenstein Properties.

The landlord, in a joint venture with Nichols Partnership, developed the office and retail project on the last remaining development site in the Central Platte Valley. U.S. Bank provided construction financing in the amount of $79.5 million, CommercialEdge data shows.

Located at 1701 Platte St., One Platte is a five-story concrete building that includes 11,591 square feet of retail space, 60,000-square-foot floor plates, three passenger elevators and 299 parking spots, according to the data provider mentioned above. Common-area amenities include a rooftop deck with panoramic views, a fitness center, outdoor spaces, an event center, a common-area lobby, bike storage and an amenity bar.

Newmark Executive Managing Director Jamie Gard and Jeff Castleton negotiated on behalf of the landlord and are also marketing the property for lease. JLL Executive Vice President Scott Wetzel, Vice President David Shirazi and Senior Associate Janessa Biller represented McCarthy.

Committed to Denver’s downtown

Situated within Denver’s Highland submarket, on a nearly 1.5-acre lot, the office building is close to interstates 25 and 70, to multiple bus, train and light rail stations and within 19 miles of Denver International Airport.

The new tenant was looking to relocate in Denver, and One Platte presented a good opportunity to maintain a downtown location while also continuing to focus on expanding the construction company’s presence in the state, noted McCarthy Senior Vice President Joe Brunsman in a prepared statement.

Another significant leasing deal closed in Denver earlier this month: Sherman & Howard signed an expansion at Block 162, a 596,295-square-foot office tower, with landlords Patrinely Group and USAA Real Estate. The law firm expanded its initial 60,000-square-foot commitment by 12,049 square feet.

Earlier this year, Shorenstein, together with ATCO Properties & Management, inked a 24,600-square-foot lease at Gama Goat Building, a 140,000-square-foot office property in Charlotte, N.C. Engineering and planning company Bolton & Menk will relocate its Southeast headquarters at the building, that is part of a 76-acre adaptive reuse campus.