HDR is trading in its long-time Denver address at 1670 Broadway for shinier digs at downtown's Block 162, and it is not shrinking on the way out. The Omaha-based engineering and architecture firm is upgrading to a newer space and holding its ground on size, giving the 30-story tower another boost in a market where many companies are cutting back.
According to CoStar, HDR's relocation will bring Block 162 to roughly 90 percent leased. The outlet notes that the move stands out because it runs counter to the broader trend of corporate downsizing that has defined many office markets in recent years.
Block 162's pull
Block 162 is a 30-story, Class A office tower developed by Patrinely Group in partnership with USAA, marketed heavily on its modern floorplates, LEED Gold credentials, and an 11th-floor sky terrace. Patrinely Group highlights the building's post-pandemic amenities and transit access, features that landlords say are helping lure professional services tenants into higher-end space.
HDR's local footprint
HDR currently lists its Denver office at 1670 Broadway on the company's website and runs a sizable local practice from that address. The decision to move into a newer downtown space reads as a clear vote of confidence in top-tier office product at a time when some firms are consolidating, and it keeps HDR firmly planted in the city's central business district, as per HDR.
Market implications
Industry coverage has noted that law firms and other professional services outfits have been among the most active tenants in premium Denver buildings, a trend that has helped Block 162 lease up quickly. Observers say HDR's decision to trade up rather than scale back will be welcome news for downtown landlords and could nudge other tenants to consider newer, amenity-rich office towers, according to Bisnow.
