Law Firms May Go LoDo

DENVER-The developers of speculative office projects in Lower Downtown here may benefit from the waning leases of several local law firms, according to a local news report. Holmes, Roberts & Owens LLP is considering the relocation of its 100,000-sf operation, currently Downtown at 1700 Lincoln St. on a lease set to expire in 2010, and several other smaller firms will soon need to relocate or renew another 130,000 sf of leases, according to the Denver Post , citing law form and broker sources.

As GlobeSt.com has previously reported, Trammell Crow Co. is developing a 335,000-sf building at 1900 16th St. on behalf of Multi-Employer Property Trust and Hines Interests is developing a 260,000-sf building at 1515 Wynkoop St. Also in the mix is a new Opus Northwest project at 1400 Wewatta. Whether the law firms would actually prefer to relocate–or simply want some leverage going into negotiations with their existing landlords–remains to be seen.

“We are considering moving because the dynamics of downtown are changing, and it is an interesting option to consider other areas of Denver that are growing,” Patty Fontneau, COO for Holmes, Roberts & Owens told the newspaper. “We have not made the decision, but with our size, we have to make a decision shortly.”

For the full Denver Post article, click here.