Hines to Manage Denver Trophy Office Asset

The 43-story high-rise was bought by Franklin Street Properties in 2013 for $183 million and is now seeing major improvements.
1999 Broadway, Denver

1999 Broadway, Denver

Denver—Wakefield, Mass.-based Franklin Street Properties recently chose Hines as manager for its 43-story office tower at 1999 Broadway in Denver.

Situated in the city’s Central Business District, the Class A, LEED Silver-certified high-rise is just a 15-minute walk from the Colorado Convention Center. Close to all of downtown’s accommodation and dining options, 1999 Broadway is less than half a mile away from the Denver Pavilions and a short drive from the Cherry Creek Shopping Center.

Completed in 1985, the 680,277-square-foot trophy tower was bought by Franklin Street Properties in 2013 for $183 million. The transaction also included a nine-story parking garage located nearby, at 2099 Welton St. Major improvements are currently underway at 1999 Broadway, the result of which will include a revamped main entry, restored lobby, a 6,000-square-foot tenant collaboration center, new conference facilities, updated training center and fitness center.

1999 Broadway, Denver

1999 Broadway, Denver

The building was originally designed by Fentress Architects, the firm responsible for Dubai’s 2.3 million-square-foot Dancing Sisters, the $4.1 billion LAX redesign, the Colorado Convention Center, as well as several international airport projects, including Sacramento, Mineta San Jose, Raleigh-Durham and Denver.

Bounded by 19th and 20th streets, California and Broadway, the skyscraper’s tenant roster includes Accenture, GSA, Hein & Associates, the IRS, Jones & Keller and Promontory Financial. CBRE, the property’s leasing agent, is currently advertising 18 suites totaling 186,545 square feet, which brings the property’s occupancy to roughly 73 percent.

According to Yardi Matrix, 1999 Broadway features 18,700-square-foot floor plates, 12 passenger elevators, 2,000 square feet of retail and a fitness center.

Frankling Street Properties’ Denver portfolio also includes nearby 1001 17th St., as well as 380 & 390 Interlocken and 6550-6560 Greenwood Plaza Blvd. in Englewood. Apart from 1999 Broadway, all of the properties in the area owned by the REIT are LEED Gold-certified.

Images courtesy of Yardi Matrix and Franklin Street Properties