**Hines’ $25M Renovation Brings New Life to Denver Office Tower**
Hines’ significant $25 million renovation of its downtown Denver office property at 1125 17th Street has paid off, bringing in a wave of new tenants throughout the year. So far, seven leases have been signed in 2024 — six new deals and one renewal — totaling approximately 66,000 square feet of newly leased space. These additions have boosted the 25-story tower’s occupancy rate to over 84%.
The renovation introduced a variety of high-end upgrades aimed at enhancing tenant experience. Key improvements included a fully reconstructed lobby, a new tenant lounge, an executive boardroom, updated conference facilities, and a wellness center complete with locker rooms and dedicated mother’s rooms. Tenants also benefit from the building’s enhanced recreational amenities, which now include bocce and basketball courts, along with a newly added pickleball court.
Originally purchased by Pearlmark Real Estate in 2006 for $120 million, the 494,689-square-foot skyscraper was sold to Hines in 2017 for $169.7 million. Hines’ investment and enhancements reflect a strategic response to current tenant demands for amenity-rich office environments in a competitive market.
