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of the years in issue, LBC owned land and improvements on the
Lincoln-Sherman block directly across from 3UBC, including a
structure named Motorbank I. That structure consisted of three
underground levels, two of which contained office space and one
of which contained mechanicals, a ground level that contained
office space, and 10 floors of above-ground parking space.
Motorbank I had approximately 1,000 square feet of office space
and approximately 103,000 square feet of parking space. 3UBC was
connected to the Motorbank I parking garage by an elevated,
enclosed pedestrian walkway and was connected to the Motorbank I
office space by a passage under Lincoln Street. Motorbank I also
had facilities to accommodate drive-up banking through about
1987.
During the 1970s, LBC owned a portion of a block in downtown
Denver, Colorado, that is bounded by 17th Avenue to the south, by
18th Avenue to the north, by Sherman Street to the west, and
Grant Street to the east (the Sherman-Grant block). That block
is directly to the east of and across Sherman Street from the
Lincoln-Sherman block. In the late 1970s, LBC purchased property
on the Sherman-Grant block.
2. Events Preceding the 1981 Transactions
a. Introduction
In the late 1970s, the Bank was in need of additional office
space and was planning the development of a new office tower.
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Last modified: May 25, 2011