DENVER--(BUSINESS WIRE)--Crescent Real Estate Holdings LLC announced today that after months of working on one of downtown Denver's biggest office deals for 2011, the company signed Jacobs Engineering Group Inc. to expand its space to 143,877 square feet in downtown's 707 17th Street office tower. 707 17th Street is also home to the Marriott City Center hotel which resides on the first 20 floors of the 42-story tower. The property now stands at 94 percent leased.
Jacobs Engineering Group, Inc. [NYSE: JEC], is one of the world's largest and most diverse providers of technical, professional, and construction services, including all aspects of architecture, engineering and construction, operations and maintenance, and specialty consulting. Headquartered in Pasadena, California, Jacobs has more than 170 offices in over 25 countries.
John W. Prosser, Jr., chief financial officer of Jacobs, commented, “The Denver market is very important for us. From Denver we are able to support local and global clients in a variety of markets we serve such as infrastructure, mining & minerals, buildings, and food & consumer products to name a few.” Prosser added, “We were delighted to team up with Crescent again. John Zogg and his team have always worked with us like a partner does – looking for long-term solutions that will help further Jacobs' success.”
Brokering the deal for the property owner, MS Crescent Two SPV, LLC, were Crescent managing director of leasing, John Zogg, and Crescent vice president of leasing, Bruce Basham. Jacobs was represented by Eric Olofson II and Nick Pavlakovich of Cushman & Wakefield. Richard Feldman of Husch Blackwell also shared in the representation of Jacobs.
“We've worked with Jacobs on several occasions,” said Zogg. “They have a significant presence in Crescent’s headquarters building in Fort Worth. Our relationship with Jacobs means a lot to us, and we are honored to have their confidence in helping to further their growth platform.”
ABOUT 707 17TH STREET
Located in the Central Business District of Denver, 707 17th Street is a 42-story building incorporating the 20-floor Marriott City Center hotel and 22 floors of office space with typical floor plates of 25,000 rentable square feet. The exterior of 707 17th Street consists of black reflective glass and the lobby has a Raja Pink granite floor, polished black granite walls accented with the Raja Pink granite and 2 large displays of art glass. The Plaza area of 707 17th Street is downtown Denver's largest and most beautiful plaza, with trees, flowers, and outdoor seating.
ABOUT CRESCENT
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries and joint ventures, Crescent owns or manages a portfolio of 35 premier office buildings totaling over 17 million square feet located in select markets across the United States with major concentrations in Dallas, Houston, Denver and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; luxury hotels; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent's Web site at www.crescent.com.