Block 162 is a 30-story, 595,039 square foot, LEED Gold, Class-A office building. The building consists of 20 office floors totaling 586,487 rentable square feet of office space and just over 9,929 rentable square feet of ground floor retail space. The office floors sit atop 13 floors of parking (10 above grade and 3 below grade). Given that even the lowest office floors will be at least 11 stories above street level, the building will boast panoramic views of Denver and the Front Range from every office floor – an amenity highly coveted by central business district tenants.

The project was developed with the Patrinely Group, LLC, a national real estate firm specializing in investment, development, leasing and property management of large scale, Class A commercial office, multifamily, industrial and data center properties in major markets.

The building was delivered for occupancy in January 2021.

Projects Highlights

Location Highlights

Located on a 1.10-acre site within downtown block 162 in the heart of Denver’s central business and entertainment district.
The Property sits at the corner of 15th Street and California, just a half block from the 16th Street Pedestrian Mall and the Denver Pavilions, and only one block from the Colorado Convention Center
Within a four-block radius, employees and visitors will have easy access to 5,800 business-class hotel rooms, over 100 restaurants and four upscale fitness centers.

Nearby Transportation

Block 162 is adjacent to light rail access at the California Street stop. Such convenient light rail access provides reliable connections for commuters to park-and-ride stations throughout the Denver metro area. The building is also located steps from the Denver Downtown Circulator route, and 16th Street shuttle provides free easy connections to the north and south ends of the CBD and Union Station.
Block 162 is connected to Denver’s freeway system with easy access to I-25 and beyond via Colfax Avenue, Speer Boulevard, and Auraria Parkway. Denver International Airport is only 35 minutes away by car – or by light rail from Union Station.

Demographics

With a 2023 population of over 750,000, Denver is the largest city in Colorado and the 19th largest city in the United States.
The characteristics of the city’s residents show a population that trends younger and more educated than the overall US averages. Over 40% of the residents in the city have attained a bachelor’s degree or higher.

Building Technology

Cast-in-place concrete and steel superstructure with an aluminum and glass curtain-wall skin
10’0” minimum finished ceiling height throughout the typical floors; 13’0” finished ceilings on Level 11; 12’0” finished ceilings on Level 30
Floor-to-ceiling, double-paned insulated glass for maximum daylight
Panoramic views of the Front Range and Downtown
11h floor tenant amenity space with social lounge & outdoor patio
Direct dispatch elevators with the ability to restrict access and includes a system allowing passengers to call elevators with their mobile devices

Sustainability Practices

97 Walk Score; 94 Transit Score; 96 Bike Score
HVAC: High quality antimicrobial MERV-14 air filters
UV-C Lamps: Improved indoor air quality by preventing microbial growth on outdoor air-cooling coils and drain pan surfaces
Ventilation: Active ventilation, filtration, and humidity control with ASHRAE guidelines to reduce potential for airborne exposure
Advanced BAS: Automatically adjusts building’s temperature to maintain an ideal level of comfort; 24/7 system monitoring

Market Dynamics

Leasing activity continues to be driven by a diverse set of industries, a positive mark for the Denver office market, which should leave it better prepared to weather macroeconomic headwinds.
In the near term, as the economy is expected to slip into a recession, leasing activity will remain subdued, and vacancy rates will continue to rise. Tenants will continue their shift towards new workplace strategies, which will include relocations to newer buildings with upgraded amenities and a focus on hybrid work coupled with an overall reduction in footprints.

Leasing / Tenancy

Block 162 has executed seven leases totaling 229,710 RSF (including Brownstein at 103,974 RSF)

Status

Block 162 was delivered in 2021 and has an occupancy of 54.6% as of February 2023.

Location

Denver, CO