Search
 

Former AT&T Building Getting $1-Mil Retrofit Into Class-A Tower

DENVER-CMD Realty Investors is tackling a $1-million upgrade of the 185,737-sf former AT&T Building in the CBD. The former owner had planned to take the profit from the sale of Hudson Bay Centre and invest in a suburban property until this one came on the market.

By John Rebchook | Updated on March 05, 2001

DENVER-CMD Realty Investors is spending $750,000 to $1 million to bring its 15-story building in the Downtown up to class-A office status. Last May, CMD bought the 185,737-sf building at 1875 Lawrence St. from Crescent Real Estate, which had purchased it from the investment arm of Denver Tech Center. CMD is one of the nation’s largest private office building investors. Formerly known as the AT&T building, the structure is CMD’s only Downtown holding, says Steve Mulhern, vice president and regional manger of CMD’s Western Region. The company previously had owned the Hudson Bay Centre in Denver’s CBD, but sold it for a huge profit.

“Hudson Bay was very unusual for us, because more than 95% of our portfolio is in the suburbs,” Mulhern tells GlobeSt.com. “When we sold it, we thought we’d replace it with a suburban office building, and then the 1875 Lawrence building became available.”

CMD General Manger Keith Neff says he would classify 1875 Lawrence as a class B-plus to A-minus building at this time. But by redoing the lobby, elevator cabs and a second-story outdoor patio, it will bring it up to class-A status, Neff says. The lobby is to be completed by the end of the second quarter end and the entire project by the end of the third quarter.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.