TCC to Immediately Begin Construction of 210,000-Square-Foot Class A Office Building
DENVER, CO – March 30, 2016 - Trammell Crow Company (TCC) and Clarion Partners announce the development of 1700 Platte Street, a 66,320-square-foot site located in the vibrant Platte Street neighborhood located between the Lower Highlands (LoHi) and Denver Union Station. The new Class A speculative office building with first floor retail will be known as Riverview at 1700 Platte, and will total approximately 210,000 square feet. Construction is scheduled to begin in early April 2016 and be completed by the end of 2017.
“During the past 18 months, the Platte Street micro market has gained enthusiastic acceptance as a legitimate extension of the Denver Union Station and CBD markets,” says Bill Mosher, Senior Managing Director with TCC’s Denver Business Unit. “In addition to the neighborhood ambience of Platte Street, the impressive growth in the area abutting Denver Union Station, LoHi and the Highlands residential neighborhoods has turned this area into a highly desired environment,” he added. “New Class A construction in this authentic pedestrian neighborhood is a truly viable alternative for tenants which prioritize a culture that is attractive to top-notch talent.”
Riverview at 1700 Platte is a 4-and-5-story, 210,732-square-foot, Class A speculative office building with 9,309 gross square feet of street retail. The project will include red brick on the west, south and north exteriors to respect the historic fabric of Platte Street with the east facade featuring a glass curtain wall to capture the dramatic views of the Downtown skyline. Floor plans call for two wings connected by a LINK building offering elevator cores serving both wings, unequalled programming efficiency, and flexibility for single or multi-tenant occupancy. A fitness center, 5 river-side balconies with unobstructed views of Downtown, and an outdoor courtyard on the second level, providing direct access to the South Platte River Park, all contribute to the uniqueness of this building. Riverview is designed to achieve LEED certification. Underground vehicle parking exceeding downtown ratios and on-site bicycle storage will accommodate building tenants. The natural setting along the Platte River with views of the mountains, River, Commons Park, and the urban skyline offers an engaging location, connecting Platte Street to the River through a unique and sustainable courtyard feature.
“This site is the best remaining land parcel available for development in the Central Platte Valley, LoDo, and LoHi submarkets,” said Michael Duffy, Senior Vice President, Asset Management, with Clarion Partners. “We are excited to partner with Trammell Crow Company on this opportunity.”
“Market demand for truly differentiated locations, with genuine place-making features, is stronger than ever”, stated Ann Sperling, Senior Director, within TCC’s Denver Business Unit. "At Riverview at 1700 Platte we are inviting tenants to enjoy the built-in features, the connection to Denver’s gorgeous outdoor environment, and the vibrant amenities of Platte Street to create their ideal professional space,” she added.
Riverview at 1700 Platte offers best-in-class accessibility, sitting along I-25 with direct access to two interchanges and less than 1,000 steps from Denver Union Station’s bus and commuter rail terminals. The project’s design leverages its proximity to the River, offers inspiring views of downtown, and its location on a pedestrian-oriented historic street delivers a first-class transit-oriented opportunity for tenants.
Tryba Architects is serving as the project architect and Saunders Construction is the general contractor. The CBRE Denver Team of Chris Phenicie, Allison Berry and Hilary Barnett manage the leasing of the office space. Kelly Greene of Urban Legend Retail will market and lease the retail space.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser and FINRA member firm, has been a leading U.S. real estate investment manager for 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With more than $40 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 250 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of December 31, 2015, TCC had $6.7 billion of projects in process and $3.6 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.