Spectralink gets back to its Boulder roots
Spectralink is on its way back to Boulder.
The company subleased approximately 35,000 square feet of office space from Tendril Networks at 2650 55th St. It is targeting an April 5 move.
“We wanted to get back to our roots,” said Michelle Chessler, director of marketing. “Not only did we want to get back to our roots and our heritage, but we also felt that the Boulder lifestyle and community suited this company well.”
Read the entire story in the April 3-…
Office vacancy rate drops, industrial in demand
Denver’s office vacancy rate dropped 60 basis points in the first quarter of the year, and there was healthy demand for warehouse/distribution space, according to CBRE Group.
Office vacancies declined or held steady in most U.S. markets, according to preliminary data from CBRE, while six of the 12 largest markets, led by Denver and San Francisco, showed decreases. Denver’s office vacancy rate was 14.5 percent, compared with 15.1 percent at the end of the fourth …
McGraw-Hill leases last two floors at 1800 Larimer
McGraw-Hill has leased the last two floors of office space at 1800 Larimer, a 495,518-square-foot LEED Platinum building in Lower Downtown Denver.
The deal will allow the company to consolidate offices in Westminster and Evergreen into a single location. The Westminster office, located in Ten West at Westmoor Technology Park, houses about 50 Platts employees and 15 J.D. Power & Associates staff. The Evergreen office is the home of BENTEK Energy, which Platts acquired in 2011.…
REIT buys Greeley MOBs for $15.03 million
A Greeley medical office portfolio that traded for $15.03 million was among $47 million in acquisitions announced by American Healthcare Investors and Griffin Capital Corp., co-sponsors of Griffin-American Healthcare REIT II Inc.
The Northern Colorado portfolio consists of three buildings across the street from the 378-bed North Colorado Medical Center. They were 93 percent occupied, almost entirely by University of Colorado Health. UCH’s lease expires in 2020.
The buildin…
Hines, Cushman highlight CU real estate conference
Commercial real estate icons Gerald Hines and John Cushman treated students and commercial real estate professionals to candid talk about their careers at CU’s annual real estate conference in downtown Denver Thursday. Hines, whose iconic buildings grace the world’s skylines, spoke about how quests for innovation and great architecture have guided his career, which began with a 5,000-square-foot building he built for a neighbor. Cushman, who in 1978 founded Cushman Rea…
Majestic Realty to develop 500,000-sf spec building
Majestic Realty Co. says it will build the first speculative industrial building in Denver in five years – and the largest ever built in the market at 500,000 square feet – at Majestic Commercenter in Aurora. “We’ve taken a very close look at local and national market conditions, vacancy and absorption rates, product supply and the success we’ve had providing large, high-quality, high-cube industrial space that is the best in the market. We’re e…
CBRE gets listing on former ConocoPhillips site
CBRE has been awarded the listing on 432 acres in Louisville where ConocoPhillips once planned a global technology campus. The team consists of Martin Roth and Eric Roth, first vice presidents with the Denver Land Services Group; Frank Kelley, a senior vice president specializing in the Northwest Denver office and industrial submarkets; and Sanford Criner, executive vice president of Global Corporate Services. Formerly Sun Microsystems’ technology campus, the property sold t…
NAIOP Colorado honors top CRE professionals
NAIOP Colorado presented its version of the Oscars today, honoring Denver’s top commercial real estate professionals at its Academy of Excellence Awards program. Awards included:
Broker Outstanding Achievement: Mike Winn & Tim Richey, Cushman & Wakefield of Colorado
Industrial Broker of the Year: T.J. Smith, Colliers International
Investment Broker of the Year: Brad Lyons, CBRE
Land Broker of the Year: Er…
Sullivan, Jugl leave JLL for HFF
A leading capital markets team led by Mary Sullivan and John Jugl have left Jones Lang LaSalle to join HFF to focus on capital markets transactions in the office, industrial and retail sectors. Sullivan joins HFF as a senior managing director with more than 30 years of industry experience. She has been involved in the sale of nearly 40 million square feet valued at more than $7.5 billion throughout the United States and has held positions at CBRE, Cushman & Wakefield and Tramm…
Tw telecom leases 161,218 square feet at ParkRidge
Tw telecom has signed a lease for ParkRidge Six, a 161,218-square-foot building in Lone Tree. The move will bring the company’s national operations center, along with some customer care functions and general office support, closer to tw telecom’s corporate headquarters in ParkRidge Corporate Center. Inverness Properties brokers Peter Coakley and Rick Egitto represented the landlord. Jones Lang LaSalle brokers Mike Rooks and Robb Johnson represented tw telecom, and Kevi…
Data centers, collaborative offices emerging
Technology advances are driving huge growth in data center industry, and Colorado is well-positioned to capitalize on that growth, CBRE Director of Enterprise Management Kate Waggoner told NAIOP Colorado members at the organization’s annual economic forecast this morning. “Every company has a data center need, and storage demand is doubling every 18 months,” said Waggoner, adding Colorado is well-positioned because of its climate and affordable power. Discussing …
Newmark Grubb parent acquires Frederick Ross
BGC Partners Inc., the parent company of Newmark Grubb Knight Frank, has acquired Frederick Ross Co. in Denver for an undisclosed price. "Frederick Ross Co. has built an outstanding reputation in the Denver market and its desire to join NGKF is confirmation that our expanded platform offers clients the best real estate solutions in the industry," said NGKF CEO Barry M. Gosin. "The team has benefited from the transformation that has taken place since Newmark and Grubb & Ellis b…
Denver investment market in Top 10
The Denver commercial real estate market is among the top 10 investment markets in the country, due largely to a strong local economy aided by a diverse employment base and good quality of life, PwC Denver-based real estate expert Wendy McCray said in response to the fourth-quarter PwC Real Estate Investor Survey. The survey is an outlook on commercial real estate based on hundreds of interviews and survey responses from real estate market participants. Total transaction volume in…
Denver's biggest spec industrial building planned
The biggest speculative industrial building ever built in Denver could be landing at Stapleton. United Properties says it will build a 514,500-square-foot distribution building in 2013 at Enterprise Business Center, a new industrial development near Interstate 70 and Havana Street. Enterprise Business Center also would include two office/flex buildings, for a total of 710,850 sf. The announcement is surprising because of its size and also because Enterprise Business Center would b…
ADT signs 121,954-sf lease
Security giant ADT has signed a 121,954-square-foot lease for space at Cherry Creek Place II in one of the largest office lease transactions to be completed in the Denver metro area this year. “We’re very excited about the opportunity that it brings to Aurora as well as the value creation in our building,” said R. Brian Watson of Northstar Commercial Partners, which owns the property. “It’s going to bring 850 jobs to the building, which is a big econo…
Fiscal cliff a 'primary concern' for commercial real estate
Cassidy Turley today released research examining the impending “fiscal cliff’s” impact on commercial real estate markets across the country. The report summarizes the various scenarios related to fiscal policy and then draws the link to commercial real estate. “The fiscal cliff is our primary concern regarding the continuation of Denver’s current positive growth,” according to Greg Morris, president and CEO of Cassidy Turley Colorado. “Goi…
Nichols to develop downtown Boulder project
A development team managed by The Nichols Partnership will develop the former Daily Camera site in downtown Boulder. The 60,000-square-foot site will house an $80 million mixed-use project with large floor-plate office space, retail and specialty uses, including an art house theater. Ten Eleven Pearl LLC bought the property from Karlin Real Estate for $13.5 million in a deal handled by Lynda Gibbons of Boulder-based Gibbons-White. For more details, see the Jan. 2 issue of the Colo…
Charles Schwab zeros in on site for possible campus
Charles Schwab could announce plans for a new corporate campus in Denver in the very near future. “At this point, we’re pretty far along in negotiations for a particular site, but nothing has been finalized yet,” said Sarah Bulgatz, Charles Schwab director of corporate public relations. The company expects to make a decision by the end of the quarter, she said. “The new campus we’re considering would give us greater control of our real estate footprin…
Eldorado Ridge trades at $42.4 million
Eldorado Ridge, a Class A office park on the Denver-Boulder corridor, traded for $42.4 million, or $130.76 per square foot, according to public records. Lowe Enterprises teamed up with Starwood Capital Group to buy the 324,269-sf Broomfield property, according to Lowe’s website. Situated on a ridge that overlooks Interlocken Advanced Technology Environment, Eldorado Ridge consists of three buildings at 11001, 11101 and 10901 W. 120th Ave. CBRE brokers Geoff Baukol and Tim Sw…
Investors want to be in Denver, says Sullivan
Denver is for the first time among a handful of metro areas that is leading the country toward recovery, and institutional investors want in on the action, according to Jones Lang LaSalle investment broker Mary Sullivan. “Institutional investors coast to coast have Denver marked and circled as one of the top five metros in the country … We are viewed from the institutional capital from coast to coast as a first-tier city,” Sullivan said at the recent Rocky Mount…