A Denver insurance company is the second business in recent weeks to announce that it will relocate to one of the new buildings slated for Lower Downtown.
Van Gilder Insurance has signed a lease for 57,000 square feet of office space in 1515 Wyn- koop, a 295,000-square-foot building that Hines Interests is developing at the southwest corner of 15th and Wynkoop streets. Van Gilder is relocating from 700 Broadway.
Construction of the eight-story building, designed by Hartman-Cox Architects, will start March 14 and is expected to be completed by October 2008. The project includes 27,000 square feet of street-level retail space and more than 10,000 square feet of outdoor terrace space spread across the building.
Last month, Chipotle Mexican Grill said it will relocate its headquarters one block to 43,000 square feet of office space under construction at 1401 Wynkoop St. The mixed-use project by Opus Northwest will include 300,000 square feet of office space when it’s completed in the fall of 2008.
Other projects announced for LoDo include a 335,000-square-foot, 18-story office tower being developed by Trammell Crow Co. at 1900 16th St. and a 200,000-square-foot office-condominium building being developed by Resolute Investments at 18th and Wewatta streets.
“The existing LoDo supply is a very small fraction of the overall CBD (central business district) market, and we view our building as a very limited opportunity,” said Jay Despard, project manager for Hines. “Each of the proposed projects is unique in its location, design and timing. The market will allow room for more than one new project to be successful in LoDo.”
Hines entered the Denver market in 1983 with the development of the 52-story Wells Fargo Center, also known as the cash-register building.
Founded in 1905, Van Gilder is the largest privately owned insurance brokerage in Denver.
Staff writer Margaret Jackson can be reached at mjackson@denverpost.com or 303-954-1473.
