The high-rise will occupy the center of a three-block stretch from the site of the former Greyhound Bus Station to Sakura Square slated to undergo a massive transformation.
The pandemic sent a majority of office workers home in March 2020, and many have yet to return, putting pressure on office markets across the country, including in Denver, where nearly a fourth of the leasable office space in the first quarter was classified as vacant.
Riverside Investment & Development Co. out of Chicago is behind the 30-story tower, which will add 700,000 square feet of office space and 10,000 square feet of ground-level retail. And 1900 Lawrence is completely speculative, meaning no tenants have signed up to take space.“This will be the best development that Riverside has done,” company CEO John O’Donnell said at the groundbreaking. “Our goal is to create a sense of a place of arrival for the employees of our tenants.
Riverside and its lenders are making a calculated bet that employers will need to up their game to attract workers back to the office. One way to do that is by providing healthier, greener, more technologically advanced and amenity-rich workspaces. The seventh floor of the new building, for example, will contain a conference center, an outdoor terrace, and a fitness facility.
Recently completed office buildings in Denver have filled up quickly despite what on the surface appears to be a glutted market, said Ryan Link, a senior vice president who represents tenants for CBRE.Guests gather for a groundbreaking ceremony for an office tower project called 1900 Lawrence on April 21, 2022, in Denver.
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