The only other tenant in the building announced so far is a law firm that leased the top floor. (Max Scheinblum/BusinessDen)
One of America’s largest insurance brokers is on the move in Denver.
Marsh McLennan is planning a 12,000-square-foot office on the 19th floor of the newly built 1900 Lawrence St. office tower, according to recently filed construction documents with the city.
Marsh declined to comment. But Chris Payne, a local executive with Riverside Investment & Development, the Chicago-based firm that developed 1900 Lawrence, confirmed the lease in an email to BusinessDen on Friday.
The 30-story, 700,000-square-foot tower, which cost $400 million, was completed last summer. Riverside has announced only one tenant: Gibson, Dunn & Crutcher. The law firm agreed to take the 31,000-square-foot top floor in 2022, while construction was underway.
Marsh has been the largest insurance broker in the U.S. for nearly the past 15 years, per a trade magazine. The company’s Denver office is located a block away, in 17th Street Plaza at 1225 17th St. The company has been there at least 10 years.
Public records show the company expects to spend over $1.8 million on the buildout, or about $151 a square foot.
Slow leasing activity at 1900 Lawrence is emblematic of the sluggish return of office activity to Denver’s urban core, which posts a vacancy rate north of 30 percent.
1900 Lawrence is only the second office tower built downtown in Denver this decade, joining Block 162, which was completed in 2021 at 675 15th St.
Block 162 hit the two-tenant mark roughly one-half year after completion, and was half-leased within a year and a half. It’s now up to about 65 percent.
The last downtown office tower completed before the pandemic, at 1144 15th St., was finished in April 2018 and fully leased by October of the following year.
The only other tenant in the building announced so far is a law firm that leased the top floor. (Max Scheinblum/BusinessDen)
One of America’s largest insurance brokers is on the move in Denver.
Marsh McLennan is planning a 12,000-square-foot office on the 19th floor of the newly built 1900 Lawrence St. office tower, according to recently filed construction documents with the city.
Marsh declined to comment. But Chris Payne, a local executive with Riverside Investment & Development, the Chicago-based firm that developed 1900 Lawrence, confirmed the lease in an email to BusinessDen on Friday.
The 30-story, 700,000-square-foot tower, which cost $400 million, was completed last summer. Riverside has announced only one tenant: Gibson, Dunn & Crutcher. The law firm agreed to take the 31,000-square-foot top floor in 2022, while construction was underway.
Marsh has been the largest insurance broker in the U.S. for nearly the past 15 years, per a trade magazine. The company’s Denver office is located a block away, in 17th Street Plaza at 1225 17th St. The company has been there at least 10 years.
Public records show the company expects to spend over $1.8 million on the buildout, or about $151 a square foot.
Slow leasing activity at 1900 Lawrence is emblematic of the sluggish return of office activity to Denver’s urban core, which posts a vacancy rate north of 30 percent.
1900 Lawrence is only the second office tower built downtown in Denver this decade, joining Block 162, which was completed in 2021 at 675 15th St.
Block 162 hit the two-tenant mark roughly one-half year after completion, and was half-leased within a year and a half. It’s now up to about 65 percent.
The last downtown office tower completed before the pandemic, at 1144 15th St., was finished in April 2018 and fully leased by October of the following year.
