The Seattle company that developed Gates Corp.’s new headquarters in Lower Downtown is planning another office building nearby.
Kennedy Associates, a pension-fund adviser, will build on part of the site a 300,000-square-foot speculative tower, the third planned office building in a four-block area. The entire site, which can accommodate up to 600,000 square feet of office and retail space, will include a 1,500-vehicle parking structure.
“They’ve got a little bit of a track record and confidence factor that the market is such that it can handle it,” said Doug Jones, president of the Jones Realty Group.
Design details such as the building’s height have not been determined, Jones told a group of real-estate professionals Tuesday on a LoDo walking tour hosted by the National Association of Industrial & Office Properties. A formal announcement is expected within 30 days.
With the Kennedy project, 860,000 square feet of speculative office space will be located along 15th Street from Delgany Street to Wynkoop Street.
Last week, Hines announced it plans to build a 260,000-square- foot speculative office building at 1515 Wynkoop. The eight-story building will have floor plates of up to 46,200 square feet and a 10,000-square-foot terrace. Hines expects that project to be completed by October 2008.
Opus Northwest on Tuesday unveiled plans for its mixed-use development at 1400 Wewatta St., a three-building project that includes 300,000 square feet of office space. In addition, Opus is building 30 residential units priced from $450,000 and restaurant space of up to 10,000 square feet.
The company plans to break ground on the project in January and complete it in September 2008, said James Mansfield, the company’s director of real-estate development.
The three projects are likely to be about 50 percent preleased and up to 90 percent leased within a year of completion because of the demand, said Rob Link, executive vice president of Studley, a tenant representation firm.
“I love the fact that there are developers willing to step up because I see the demand,” he said.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
