Colorado Center Spicing Things Up with New Expansion
- Jun 22, 2015
Two out-of-state players are betting big on Denver’s thriving real estate market. Dallas-based Lincoln Property Co. and ASB Real Estate Investments of Washington, D.C. will break ground this month on a 450,000-square-foot expansion at the Colorado Center.
Currently comprising about 500,000 square feet of office space, as well as 120,000 square feet of entertainment space, the Colorado Center is 96 percent occupied, and an attractive bet for investors. Conveniently located between downtown Denver and the Denver Tech Center at 2000 S. Colorado Blvd., the mixed-use center is home to Dave & Buster’s and the United Artists Colorado Center 9 & IMAX theater, the Denver Business Journal reports. The center also features an RTD Light Rail Station, eGo CarShare, RTD FasTracks, as well as a pedestrian bridge over I-25 currently under construction.
“The project will build on the success of earlier phases, adding residential and benefiting from increasing light rail line ridership,” said Robert Bellinger, president & CEO of ASB Real Estate Investments in a statement. “Colorado Center’s convenient location between LoDo and the Tech Center, and its proximity to Cherry Creek create major demand drivers.”
According to a news release, the expansion consists of a 210,000-square-foot Class AA office building, a 205,000-square-foot Class A residential tower, as well as 40,000 square feet of main street retail. JE Dunn Construction Co. of Kansas City will serve as general contractor, while Tryba Architects will handle design work. The office part of the expansion is scheduled for completion in December 2016, while the residential portion is expected to open in mid-2017.
Image courtesy of Tryba Architects