DENVER, December 20, 2012 – Crescent Real Estate Holdings LLC announced today five separate lease transactions totaling 97,153 square feet for Johns Manville Plaza and 707 17th Street commercial office buildings. The dynamic lease activity foreshadows an expected re-branding of Crescent’s downtown Denver development later this year or early in 2013.
The Johns Manville Plaza, 707 17th Street and Marriott Denver City Center, along with a common outdoor plaza, are undergoing significant renovation and will be re-branded as Denver City Center. Renovations include an updated façade, 12,000 square feet of new retail and restaurants, as well as improvements to the outdoor plaza. “The Marriott Denver City Center is well-known as a fashionable location. We want to leverage that popularity for the rest of the Crescent properties with a fresh, new moniker – Denver City Center, and improvements, such as an upgrade of the plaza to include more trees, greenery and places for customers to relax and enjoy outdoor meals and entertainment,” said Bruce M. Basham, vice president leasing for Crescent.
Improvements will add energy and vibrancy to the entire center, according to Basham, who said Crescent expects to unveil the full scope of the renovation and the re-branded name by the end of the year or early first quarter of 2013.
“There is definitely renewed excitement in both Johns Manville Plaza and 707 17th Street. Leasing activity is strong. Our customers are looking forward to the renovation, and the overall downtown market appears to have good momentum. We are pleased to add Broadridge Financial Solutions to our customer mix and are honored that Cunningham Financial, Concord Energy and Calfrac Well Services signed on to stay and expand,” said Basham.
In the Johns Manville Plaza, Baker Hughes signed a new lease for 42,814 square feet. Broadridge Financial Solutions signed a new lease for 23,773 square feet and Calfrac Well Services Corp. signed a lease expansion of 6,090 square feet in the Johns Manville Plaza. Cunningham Financial picked up 18,314 square feet in a renewal and expansion of its space in 707 17th Street. Concord Energy renewed and expanded its 707 17th Street space to 6,162 square feet.
Basham, vice president leasing for Crescent, represented the owner MS Crescent Two SPV, LLC in the lease transactions. Broadridge was represented by Joe Sidgestad with Cassidy Turley; Calfrac was represented by Anthony Albanese and Hadley Cox of CBRE; and Cunningham Financial was represented by Jim Ranson of Newmark Knight Frank Frederick Ross.
Baker Hughes is a leading supplier of global oilfield services, products, technology and systems to the worldwide oil and natural gas industry. Broadridge Financial Solutions, Inc., is a leading provider of TrueOpen™ retirement products and services for third-party administrators, financial advisors, banks, insurance companies and other financial professionals. Calfrac is an innovative pressure pumping services provider focused on North America’s premier unconventional natural gas and light oil plays plus strategic international markets. The Cunningham Financial Group, part of Northwestern Mutual, is a team of advisors and specialists in areas of financial planning including personal analysis, retirement solutions, estate analysis and business needs analysis. Concord Energy Holdings LLC provides a broad range of energy-related services including marketing, field services, transportation, water services, work-over rig and rig moving and other midstream services.
ABOUT JOHNS MANVILLE PLAZA
Johns Manville Plaza is a 29-story, 675,400 square-foot Class A office building located in downtown’s newly-termed Denver City Center which is also home to the 707 17th Street building, the Marriott Denver City Center and a common area plaza with outdoor seating. Significant renovations to Denver City Center are underway and projected to be complete in phases throughout mid-2013.
ABOUT 707 17th STREET
707 17th Street is a 42-story building with the Marriott Denver City Center on the first 20 floors and 550,000 square feet of Class A office space on the upper 22 floors. The property is located in downtown’s newly-termed Denver City Center which is also home to Johns Manville Plaza and a common area plaza with outdoor seating. Significant renovations to Denver City Center are underway and projected to be complete in phases throughout mid-2013.
ABOUT CRESCENT
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries, Crescent owns or manages a portfolio of 26 premier office buildings totaling over 9.5 million square feet located in select markets across the United States with major concentrations in Fort Worth, Dallas, Houston, Denver and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; luxury hotels; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent’s Web site at www.crescent.com.
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