Summit Materials selects LoDo building for headquarters
Summit Materials is moving its Washington, D.C., headquarters to Mercantile Square in Lower Downtown Denver.
The company signed a seven-year lease for 16,653 square feet of third-floor space that spans 1550 Wynkoop St. and 1628 16th St. The Colorado Economic Development Corp. recently approved $1.3 million in incentives for the corporate relocation, which will bring 79 jobs to the state.
“We’re thrilled,” said Mike Coughlin of Coughlin & Co., which owns the…
Developer comes forward for Gaylord hotel
Houston-based Rida Development Corp. is picking up where Gaylord Entertainment left off to build a 1,500-room Gaylord convention center hotel in Aurora. Rida and AREA Property Partners are working with Marriott and the city of Aurora to build the $800 million project, which would include 400,000 square feet of exhibition and meeting space. Financing is not yet in place, but, “With Rida and AREA and Marriott, we now have the right team in place to make it happen,” said …
White Lodging to build first dual-branded Hyatt in Denver
White Lodging Services will build its first dual-branded Hyatt hotel near the Colorado Convention Center in downtown Denver.
The 21-story building at the southeast corner of 14th Street and Glenarm Place will combine a Hyatt Place hotel with White Lodging’s first newly constructed Hyatt House. The company will operate the 346-room hotel under a franchise agreement.
Read more in CREJ's May 1-May 14 issue.
EDCC awards its 2013 awards for excellence
The Economic Development Council of Colorado recently awarded its 2013 awards for excellence in the field of economic development in Colorado.
This year’s recipients were chosen from seven categories:
Volunteer of the Year – Commissioner Jill Repella of Douglas County
…
Westin Hotel planned in Greenwood Village
Greenwood Village City Council has agreed to sell 3.54 acres of property at the Arapahoe at Village Center Station (on the east side of Interstate 25) for construction of a Westin Hotel.
Greenwood Village Hotel LLC, a development group consisting of Waveland Ventures, Jackson Street Holdings and Arrival Partners, expects to begin construction in the fourth quarter. Preliminary plans for the hotel include 200 guest rooms and suites; a signature restaurant and bar welcoming both …
Energy companies drawing construction workers
A construction labor shortage impacting apartment building in much of the Southwest, including the Denver area, increasingly could be exasperated by an unexpected source ⎯ competition from oil and exploration outfits that pay much higher wages than builders.
Jeff Booth, a senior vice president of San Antonio-based Embrey Partners, which has developed more than 40 million square feet of apartments and commercial properties during the past 39 years, highlighted the issue of compe…
Industrial build-to-suits in the works
Build-to-suits for two users are in the works at Highfield Business Park in Douglas County and Coors Technology Center in Golden.
Central Development has broken ground on a 63,981-square-foot tilt-up building at Highfield for Applied Control Equipment, which delivers automation solutions to clients in Colorado, Wyoming, Montana, and parts of Nebraska and South Dakota. The local business partner in the Rocky Mountain Region for Emerson Process Management, the company services indu…
City Council approves redevelopment of 104th Ave. site
This month, demolition and remediation will start on a former Target store in Thornton.
The city of Thornton, Thornton City Council and the Thornton Development Authority made the determination to demolish the site.
“We are certain the demolition of the vacant former Target building will create a positive momentum that will spur new development interest on the site,” said Thornton Interim Economic Development Director Jessica Erickson. “The redevelopment is an …
Data reveals stronger employment growth in metro Denver
Revised data for employment shows annual growth was even stronger than estimated in metro Denver, with 37,300 jobs added in 2012. The annual benchmark revision of the employment data reflects an increase of 2,800 more jobs than the previous estimate, according to data compiled by the Metro Denver Economic Development Corp. in its Monthly Economic Summary for April.
In addition to employment, retail sales and residential building permit annual data also were revised …
Tenants take 66,025 sf at 1801 California
Brookfield Office Properties has leased 66,025 square feet of office space at 1801 California to two tenants.
Halcón Resources Corp., an independent energy company, signed an 11-year lease for 43,829 square feet. Charlie Lodge, Alec Wynne, Rob Neblett and Harry Holmes of Avison Young represented the tenant.
Newalta, a Canada-based industrial waste management and product recovery company, also signed an 11-year lease. It will occupy 22,196 sf. Colliers International broker…
Transformed printing plant to be multistate draw
Ascendant Development plans a next-generation design center at the former Denver Post printing facility at Interstates 25 and 70. Ascendant expects the multifaceted center to be a destination for Colorado and surrounding states. Read more about it in CREJ's April 17 issue.
Pauls Corp. to break ground in Cherry Creek
The Pauls Corp., in a joint venture with FirstBank and Junction Energy Partners, will break ground this fall on an upscale office building in Cherry Creek, one of the first new office buildings in that submarket in 25 years. The 150,000-square-foot building at the northeast corner of First Avenue and St. Paul Street is 40 percent preleased. Read about it in CREJ's April 17 issue.
Developer assembles Boulder redevelopment sites
A Denver-based company has been busy assembling redevelopment sites in Boulder, including five acres sandwiched between Whole Foods Market, the transit village and the Twenty Ninth Street shopping and entertainment center.
Brickstone Partners, which has been active in the Boulder student housing/apartment market, plans to begin the entitlement process for the property within the next 90 days. It is exploring 400,000 to 500,000 square feet of development, including office or hospi…
Hancock addresses BOMA
Denver Mayor Michael B. Hancock addressed issues ranging from taxes to toilets to a downtown Target during a recent meeting with about 30 commercial real estate leaders.
Hancock spoke and answered questions at an invitation-only event in March arranged by the Denver Metro Building Owners and Managers Association, or BOMA.
In addition to local BOMA members, the meeting in the Embassy Suites – Downtown Denver Convention Center Hotel, included Joseph W. Markling, a managing d…
Grand Junction to light up Times Square in NYC
The Grand Junction Visitor and Convention Bureau partnered with the Grand Junction Economic Partnership in an effort to expand the community’s profile.
The latest effort is an electronic billboard near Times Square in New York City that will showcase images and activities in Mesa County. The advertisement will run through April 14. It is estimated that more than 300,000 people will see the advertisement daily.
“I am excited about the strong partnership GJEP and the V…
Walmart to anchor Garland Center redevelopment
Walmart is coming to Northglenn – and with it building a store that will meet the needs of the community.
Wal-Mart Stores Inc. recently announced plans to anchor the redevelopment of Garland Center in a joint project with the Northglenn Urban Renewal Authority. The 41,000-square-foot Neighborhood Market will feature a full grocery store as well as a pharmacy.
“We are excited to bring this project to our Northglenn customers,” said Walmart spokesman Joshua Phair…
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…
On Deck launches Denver hub
On Deck announced today the opening of a new Western regional office in Denver. The Denver office, which opened with 16 employees, will expand to over 200 professionals in the next two years across sales, operations and technology functions. Governor John Hickenlooper and Mayor Michael B. Hancock presided at an inaugural ceremony for local small business owners, business partners and government officials.
“Having a Western regional hub allows us to better reach and se…
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…
Healthy outlook for region in 2013
Several economic indicators posted positive numbers in 2012, pointing to significant progress in the economy and a healthy outlook for the region in 2013, according to data compiled by the Metro Denver Economic Development Corp. in its Monthly Economic Summary for February.
Employment in metro Denver grew at a steady pace in 2012 and will continue to expand through 2013. The recently released 2013 Economic Forecast expects employment growth of 2 percent in 2013, slightly below th…