Hines, CalPERS acquire Guaranty Bank Building

Vacancy rate 1% at closing

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A joint venture between Hines and the California Public Employees' Retirement System today announced it has acquired the Guaranty Bank Building in Denver, Colo., for an undisclosed price. The 13-story, 220,287-square-foot office building, sold by Westfield Capital Partners LLC, is located at 1331 17th St. in the city's Lower Downtown (LoDo) district. The class A property, which was completed in 1983, includes an attached nine-level structure (three below-grade levels and six above-grade levels) providing a total of 650 spaces. At the time of sale, the asset was 99 percent leased to tenants that included Guaranty Bank, Camp Dresser and McKee, David Evans & Associates, and Neidiger Tucker Bruner. ...