LaSalle Shops for Luxury in LoDo

LaSalle Investment Management has snapped up a prime piece of real estate in Denver’s upscale LoDo neighborhood.

By Ioana Neamt, Associate Editor

16M – 1560 Market St.

LaSalle Investment Management, a Chicago-based independent subsidiary of JLL, has snapped up a prime piece of real estate in Denver’s upscale LoDo neighborhood.

The company recently announced the purchase of 16M, a Class AA mixed-use asset located at 1560 Market St. in Denver’s historic lower downtown submarket. The price tag for the 10-story building has not been disclosed.

Owned, developed and managed by Integrated Properties and designed by San Francisco-based Gensler, 16M incorporates 189,284 square feet of office, retail and residential space completed in 2013. The LEED certified building features five stories of high-end office space, ground-level restaurants, and 36 luxury apartments on the four upper floors. Amenities include a rooftop terrace, state-of-the-art fitness center and three levels of underground parking.

“The amenity-rich, mixed-use vibrancy that continues to shape the LoDo submarket creates valuable synergy across property types benefitting both investors and users, and we believe the best LoDo assets should outperform the wider market given these unique attributes,” said David Schreiber, managing director at LaSalle, in a statement.

Notable tenants at 16M include Morgan Stanley’s regional headquarters, D.A. Davidson, The ONE Group, Panera Bread, and will soon feature the first U.S. location of STK Rebel, an upscale steakhouse chain.

16M marks the third property purchased by LaSalle in Denver’s LoDo area. The company closed on the Millennium Financial Center at 1550 17th St. and the Writer Square shopping mall at 1512 Larimer St. in September 2013.

Rendering courtesy of 16M Residences’ Official Facebook page