Westfield Launches 500,000-SF Office Project in Denver

"350,000-SF Prelease with Xcel Energy Spurs Construction of New 22-Story Office Tower at 1800 Larimer St.
Written by Jason Mower at Costar.com

Westfield Development Co. said it will begin construction on what it described as Denver's first downtown office high-rise development in more than 20 years after Xcel Energy agreed to lease approximately 350,000 square feet in the new building expected to deliver in 2010.

The 22-story, 496,359-square-foot central business district project at 1800 Larimer St. will qualify as one of the largest new office construction projects to start construction in the U.S. so far this year. It will also be one of the first LEED CS Platinum high-rise office buildings in the United States.

"Our new location will have state-of-the-art environmental features, and will be a benchmark for future office building construction in Colorado and the region," said Richard C. Kelly, Xcel Energy's chairman, president and CEO.

Westfield Development Co., Westfield Capital Partners, Frederick Ross Co., Apartment Realty Advisors and Citywide Banks will join Xcel in the nearly 75% preleased building.

Wachovia will provide construction financing. Frederick Ross Co. has been selected as the exclusive leasing and marketing representative for 1800 Larimer. Thomas Lee, Randy Lewis and Jane Rubley of Frederick Ross Co. are the exclusive leasing representatives.

The building will feature a number of energy-saving and sustainability features, including special monitoring and control equipment, low-e, insulating glass windows, and raised floors throughout to accommodate the under floor air distribution system, which helps generate utility cost savings and gives occupants more individual temperature control over their own immediate office environment while eliminating the need for most tenant ductwork and accommodate the installation of electrical and data cabling distribution and modular wall systems.

Principals in Westfield Development Co. have been involved with real estate transactions and development around the greater Denver metropolitan area since 1970, developing more than 5 million square feet of commercial space and planned communities. In addition to 1800 Larimer, Westfield Development is also developing Lincoln Station, a new mixed-use, transit-oriented town center development at the end of the new southeast light rail line. The development includes 500,000 square feet of office, 1,500-2,000 residential units and 50,000 square feet of retail space. "