Block 162, McGregor Square signs new office tenants
Two new office buildings in downtown Denver, both completed during the pandemic, announced new leases on Wednesday.
The deals mean a second tenant for Denver’s newest skyscraper. But the office building in the other project, about a third its size, actually rented a lot more square footage.
Block 162 lands a second law firm
First, there’s Block 162, the 30-story, approximately 600,000 square foot skyscraper located at 675 15th St.
Developer Patrinely Group and its Houston-based partner USAA Real Estate said Wednesday that Dallas-based law firm Haynes and Boone had leased 13,125 square feet on the building’s 22nd floor.
The firm is expected to move in the third quarter of 2022. Haynes and Boone’s Denver office, which employs approximately 25 people, was established in 2015 and is currently located at 1050 17th St.
Doug Wulf and Todd Wheeler of Cushman & Wakefield market the office space under the direction of Dennis Tarro of Patrinely Group. Cheryl Casserly of Transwestern represented the tenant.
Haynes and Boone is the second tenant announced for block 162, which was completed in the second quarter of this year. The first tenant was Denver-based law firm Sherman & Howard, which said in March it occupied the 23rd and 24th floors of the building, or about 60,000 square feet.
Block 162 still has over 500,000 square feet of available office space. Among the companies that have inspected the building, according to industry sources, is Palantir, which moved its headquarters to Denver from Silicon Valley last year but does not have a permanent home there. Palantir did not respond to a request for comment on Wednesday.
McGregor Square office tenants rise to eight
McGregor Square, located across from Coors Field, consists of three connected structures, one of which is an office building.
The project’s development team announced three new tenants on Wednesday.
Exclusive Resorts, a members-only vacation club, has rented 19,000 square feet, McGregor Square CEO Patrick Walsh told BusinessDen.
Data center company Cologix leased approximately 11,000 additional square feet. And The True Life Cos. – which says it is “looking to establish strategies for infill growth” – has leased about 6,100 square feet, Walsh said.
All three companies are based in Denver.
They join office tenants who signed up in McGregor Square earlier: cybersecurity firm Red Canary (about 43,000 square feet, by Walsh), law firm Lewis Roca (31,000), T-Mobile (25,000 ), advertising firm CPB (18,000) and Oceanside Capital Advisors (4,000).
Lewis Roca just moved in this week, Walsh said.
Walsh said the 25,000-square-foot fourth floor of the building was still available, as was another 14,000-square-foot piece, although negotiations are closed on the latter and a deal could be formal early in the year. ‘next year. Jordan Deifik of Bastion Inc. markets the property’s offices.
Walsh and Deifik have separately said they believe the mixed-use nature of McGregor Square has been attractive to potential tenants. Walsh noted that the project incorporates the Rally Hotel.
âIt’s great for out of town clients and executives,â he said.
Deifik noted the proximity to Union Station and the I-25 express access, and said items such as a food hall appealed to executives who want employees to work out of the office.
âWhile they’re on tour they’re like ‘Our team is going to want to come back here,’â Deifik said.
Deifik also said the McGregor Square development team, which includes Rockies co-owner Dick Monfort, “went above and beyond in terms of creative structures.” One of the building’s mid-size tenants, for example, signed a two-year lease, which might not appeal to large institutional landlords.
âIt drew people into the building,â Deifik said.
But there will be no massive turnover in the years to come. Of the remaining tenants, Deifik said, one signed for five years and the others have leases of seven to ten years.
Walsh said about 85 percent of McGregor Square’s condominium units have sold. And the commercial space for the project is fully leased with the recent addition of CaldÃ©ro, a new Tex-Mex and American restaurant from the owner of La Loma and Restaurant Sierra.