Discover who is building Colorado commercial real estate projects and where.

Denver Union Station North Office Building - November 21, 2012

Description: NV5 has been contracted by Commerce Bank to oversee construction and monthly contractor payment applications for one of the highest profile projects in the nation, the Denver Union Station North Office Building or the IMA Building. The first commercial building in the Union Station Redevelopment Project, a $500 million multimodal transportation project (the largest in the nation currently) is under construction. IMA Financial Services will be relocated to a $35M, class A, LEED Gold office building directly adjacent to the historic Denver Union Station Main Hall.The building includes 2 1/2 levels of subgrade parking, first floor retail space and four levels of office space above. Scheduled completion is planned for August 2013. This project marks the fourth project with existing NV5 client Commerce Bank. NV5 began working with Commerce Bank on the AlloSource project in fall 2010. NV5 acted as owner's representative for AlloSource overseeing design and construction of 67,000-square-foot, $16 million addition to their tissue donor facility.NV5 owner's representative services included preparation of draw documents for the bank against the bond issued to finance the addition, design review, change order negotiation and construction observation. Additional services were extended to oversee the remodeling of their existing facility to add additional clean room space, employee break area and office space.NV5 fee for the addition and remodel was approximately $250,000. In addition to the owner's rep services on the new IMA building, Commerce Bank has also contract NV5 for the Regency at Ridge Gate project in Lone Tree, Colorado. NV5 is providing monthly construction observation and draw review services for a 13 structure, $28M multifamily residential development includes four townhome structures, seven three-level walk-up apartment buildings, two parking structures and a common building including recreation center and pool. Commerce Bank also handles commercial refinance loans for businesses. Thanks to our strong relationship with Commerce and their growing trust in NV5's owners representation services, Commerce Bank has begun to request condition assessment reports from NV5 for their closing documents for refinance loans. These fees, while not large, they will grow as the volume picks up in the hospitality and multifamily markets. The Denver metro area is among the nation's highest in growth and recovery rates on construction in the country.

Location: Denver, Colorado
Client: Commerce Bank
Term: 5/2012 - Ongoing
Amount: $35,000,000
Type: Office / Corporate Campus

NV5

Address: 8000 S. Chester Stree
Contact: Drew Kraft
Phone: 303.220.6443
Fax: 303.220.9001
E-Mail(s): Drew.Kraft@nv5.com
Web URL: http://www.nv5.com