Third law firm leases space at Denver’s newest skyscraper

This story first appeared on BusinessDen.com, a BizWest news partner.

The lawyers like Block 162.

The developer of Denver’s newest skyscraper announced its third tenant this week, which will also be its third law firm.

SPONSORED CONTENT

People Powered: Preparing Longmont Businesses for Economic Success

Longmont Chamber and FNBO present People Powered on April 24, 2024, aiming to inform business owners about workforce development, housing, and transportation issues.

Michael Best & Friedrich is taking 15,000 square feet on the 675 15th St. building’s 20th floor, according to Houston-based developer Patrinely Group.

The firm joins Sherman & Howard, which has 60,000 square feet across floors 23 and 24 and moved in last month, and Haynes and Boone, which took 13,125 square feet on floor 22.

Milwaukee-based Michael Best has 19 offices in the U.S.; its Denver one is currently at 1776 Lincoln St. The firm expects to move into Block 162 in the second quarter.

“This state-of-the-art building and the innovative space we are creating within it will be a world class hub for both our team and our clients and continue supporting our growth, contribution and commitment to Colorado,” Shawn Stigler, managing partner of Michael Best’s Colorado offices, said in a statement.

The 30-story, 596,295-square-foot Block 162 was completed in the second quarter of last year by Patrinely and USAA Real Estate.

The building has office space on the top 20 floors, and a lobby and about 9,000 square feet of retail space on the first floor. The 11th floor also features amenities including a large outdoor terrace. The other nine floors are used for parking.

David Haltom, Patrinely’s vice president for the Rocky Mountain region, told BusinessDen he isn’t surprised that law firms are the first tenants.

“I think that indicates the level of seriousness with which that segment of the market is taking the recruitment and retention arms race,” he said.

Haltom also said the “decision-makers are often local” when it comes to law firms, even if they are technically headquartered elsewhere.

“We’ve seen a little more reluctance from some of the larger national companies, particularly in the tech sector,” he said.

After a rough 2020, Haltom said, Patrinely saw strong leasing interest in early 2021 as the vaccines rolled out. Activity continued to climb and “peaked in the summertime.”

“The Delta variant wound up pumping the brakes on some tenants and their process,” he said.

But Haltom said Patrinely is in “final negotiations” with three other tenants, and optimistic for 2022.