675 15th Street
HDR Engineering has signed a long term lease at Block 162, relocating its 500 employee Denver office within downtown.
The Omaha based architecture and engineering firm will occupy the 13th, 14th and 15th floors at 675 15th St., totaling approximately 74,000 square feet. The lease starts at $37.00 per square foot with 2.5% annual rent increases beginning in the third lease year.
The deal includes two full years of free rent , along with a tenant improvement allowance of $170 per square foot. HDR is expected to move from its current space at 1670 Broadway, where its lease expires in October.
HDR has been at 1670 Broadway since 2013. The firm employs 500 people in Denver, making it its second largest office behind Omaha. HDR is a architecture, engineering and consulting firm founded in 1917. The firm provides services across architecture, engineering, planning, environmental and construction management, serving clients in transportation, water, health care, education, energy and federal markets. HDR operates more than 200 offices worldwide and employs approximately 14,000 people.
According to BusinessDen, Block 162 was selected for its central location, larger contiguous floor plates and improved connectivity compared to HDR’s current noncontiguous layout.
Block 162 was completed in 2021 and is owned by Houston based Patrinely. Prior to the HDR deal, the 30 story tower was approximately 75% leased following a Bank of America transaction. With HDR added, the building is now estimated to be roughly 90% leased.
Other tenants in the building include Taft and Brownstein Hyatt Farber Schreck.
The move is another setback for 1670 Broadway, which is also losing anchor tenant TIAA as it relocates operations out of state.
On the ground floor, the building features three retail units. The largest space, fronting California Street, is leased to Leven Deli, which plans to complete its build out and open later this year. The remaining retail suites are still vacant, and according to management, leasing efforts have not been particularly aggressive. However, once Bank of America and HDR move in and the building reaches full occupancy, increased activity at the ground floor retail level is expected.