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WSJ covers Denver "property boom"

The Wall Street Journal ran a story about Denver's development frenzy and the next addition to the skyline: the 40-story 1144 Fifteenth.


The Mile High City's skyline is getting a glassy new addition, the latest sign that the U.S. office sector is strengthening beyond just large coastal markets.

Hines, a Houston-based developer, on Tuesday broke ground on 1144 Fifteenth, a planned 40-story office tower one block southeast of Denver's historic Larimer Square. The 640,000-square-foot structure will feature 10-foot ceilings and glass walls, open floor layouts, several ledge terraces, a 5,000-square-foot fitness center, and a mezzanine level with a fireplace and seating for informal gatherings.

The addition comes as Denver's vacancy rate was 12.9% in the first quarter, down 0.56 percentage point from its year-ago level and near its lowest point since 2008, according to CBRE, a commercial real-estate company.

Read the rest here.
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