DENVER–(BUSINESS WIRE)–CIM Group today announced the completion of an extensive program of renovations at the LoDo Towers office buildings that includes the addition of a 10,000-square-foot tenant amenity center and comprehensive common area upgrades. LoDo Towers consists of the 13-story, approximately 225,000-square-foot tower at 1331 17th Street (“1331”) and the 16-story, approximately 196,000-square-foot tower at 1401 17th Street (“1401”) in Lower Denver (“LoDo”), which CIM Group acquired in May 2018.
CIM Group has refreshed and modernized the arrival experiences for both buildings with new entries and bright and expansive lobbies. At 1401, a ground floor, outdoor plaza has been repositioned to create an inviting area that provides a more engaging pedestrian experience. A new geometric canopy spans from the building entrance to the sidewalk, a defining architectural element that reflects the style of the neighborhood’s nearby turn-of-the-century warehouse buildings.
The most significant property upgrade is the addition of an amenity center in 1401, accessible to tenants of both office buildings, that provides lounge areas for relaxing or working, a game space, a fitness center, and a training and event room outfitted with state-of-the-art technology to allow for a variety of uses including video conferencing.
The spacious lobby lounges and amenity center are designed to engage tenants and their visitors and are currently configured to address requirements for safe and socially distanced uses. For instance, the fitness center is operating on a reservation system at designated times to manage and limit interactions, and the locker rooms have been constructed to provide private shower areas. The training center occupancy has been temporarily reduced for proper distancing and similarly, furniture in the lobbies and lounge areas have been spread out and rearranged. Safe building operation practices and protocols have been instituted throughout 1401 and 1331, including regular cleaning and disinfecting of all common areas during the day, and after each use of the gym and training room.
LoDo Towers, the only high-rise towers in Lower Denver, offer unobstructed views of the Rocky Mountains and beyond and provide tenants with spacious floorplates – approximately 17,400 square feet in 1331 and approximately 13,500 square feet in 1401.
LoDo Towers is in the hub of downtown Denver, ideally situated in the Lower Denver submarket, just minutes from Union Station, the area’s epicenter, and steps from the 16th Street Mall, a pedestrian shopping, dining and entertainment area, which offers the free MallRide service. The property is also located just a few blocks from historic Larimer Square, with its eclectic collection of shops and eateries. In addition, tenants have easy access to the free MetroRide downtown circulator that allows them to reach many downtown amenities. Each building has an ample bike storage room with a repair station for bike commuters. The property also offers convenient access to Interstate 25, given the location just three blocks from Union Station, access to light rail, bus and commuter rail services.
CIM applied its wealth of experience with commercial properties in metropolitan markets across the country to repositioning and operating LoDo Towers and has been actively involved in Denver for almost 10 years. In 2015 CIM acquired the former University of Colorado Health Sciences Center with Continuum Partners to co-develop the 26-acre site into 9th & Colorado (9th+Co), an urban infill mixed-use project with a variety of retail, restaurants and entertainment alongside residential options including the 275-unit Theo and 319-unit Milo apartment buildings. CIM is also developing Ella CityHomes at 9th+Co, a collection of 35 for-sale luxury townhomes currently under construction.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.