March 2-March 15, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 15
Metro Denver
by Jill Jamieson-Nichols
A redevelopment project in
River North has grown by 2.92
acres.
Denver-based Westfield Com-
pany Inc., which owns the 14-acre
Midtown Industrial Center
between 40th and 43rd streets on
the east side of Brighton Boule-
vard, bought 2.92 acres across the
street at 4201, 4211, 4221 and 4203
Brighton. The property contains
four industrial buildings ranging
from 3,200 to 14,140 square feet
and likely will be incorporated
intoMidtown’s future redevelop-
ment.
“We think the two sites are
complementary from a use per-
spective,” said Rich Wham, a
partner in Westfield.
Westfield paid $5.3 million for
the site, which is divided by rail-
road tracks. Hunt Family Part-
nership LLLP, which is affiliated
with one of the companies that
operate on the property, was the
seller.
The building at 4201 Brighton
is a barrel-roof structure with
skylights.
CBRE’s Daniel Close, who rep-
resented the seller with Murray
Platt, also of CBRE, said there
was “unbelievable activity” on
the listing, and the site was under
contract for nearly a year. CBRE’s
Jim Bolt and Tyler Carner repre-
sented the buyer.
The tenants’ leases expire with-
in the next year, and Wham said
Westfield has maintained short-
term leases at Midtown to allow
for future development.
Westfield is in the master-plan-
ning process for redevelopment
of Midtown Industrial Center,
which is a block from a com-
muter-rail station on the soon-
to-open East Rail line between
Denver Union Station and Den-
ver International Airport. With
the addition of the 2.92 acres,
it owns approximately 17 acres
along Brighton that contain more
than 400,000 sf of industrial
buildings.
s
Westfield has added approximately 3 acres across from Midtown Industrial Center to its Brighton Boulevard
holdings.
by Jill Jamieson-Nichols
Quebec Court I has a new, yet
familiar, owner.
John Madden Co., which
developed the 140,000-square-
foot building at 5700 S. Que-
bec St. in Greenwood Village,
bought it back for $13.1 million.
It plans to reinvent the Class B
property, which features a three-
story grand atrium, approxi-
mately 40,000-sf floor plates and
a parking ratio of 5:1,000 sf.
“By adding Quebec Court
back into the John Madden Co.
portfolio, we’re able to recon-
nect with a building John Mad-
den built and reinvigorate it for
a new generation of tenants,”
said Blair Madden Bui, John
Madden Co. CEO. “This pur-
chase is also about sustainability
in the sense that it’s important to
us that John
Madden Co.’s
p r o p e r t i e s
add lasting
value to the
surrounding
commun i t y
and to the
commercial
tenants who
call it home.
This purchase
puts us back in control of that
future.”
As part of the upgrades for Que-
bec Court, John Madden Co. will
add a 1,500-kilowatt generator
and new HVAC, and white-box
space for tenants. The building
was constructed in 1979 and was
30 percent occupied at the time
of the sale. Tenants include U.S.
Nursing and Haynes Mechanical
Engineering.
The three-story building is
withinwalkingdistance of shops
and restaurants at The Land-
mark, as well as the Orchard
light-rail station and Green-
wood Athletic Club. It offers
open interiors with views of
the Front Range mountains as
well as collaborative meeting
space open to the community.
The adjacent parking garage
was part of the sale.
“In my mind, John Mad-
den Co. will be reinventing
the building it originally devel-
oped into one that exceeds the
desires of the modern office
building users through an
extremely efficient floor plate
with marvelous mountain
views and extensive areas for
employee collaboration and
enjoyment,” said Robert Whit-
telsey, principal at Colliers
International.
“Natural daylight, redundant
power and a new HVAC sys-
tem will add to the well being
and productivity of building
occupants as well as enhance
the ability of corporations to
meet their business goals to the
benefit of their balance sheet,”
said Whittelsey, who will han-
dle leasing.
Baxter Fain of JLL repre-
sented John Madden Co in
the transaction. Andy Klein of
Westside Property Investment
Co. represented the seller.
s
John Madden Co. developed Quebec Court I in 1979.
Blair Madden Bui
by Jill Jamieson-Nichols
Construction of the newest
speculative office building in the
southeast suburban market is
under way in the heart of Green-
wood Village.
Granite Place at Village Center
will bring 300,000 square feet of
Class AA space to the Village
Center in the first quarter of
2017. Within walking distance of
the Arapahoe at Village Center
light-rail station, the develop-
ment will include a 1,000-space
parking garage, indoor and out-
door gathering areas and will be
adjacent to a new Westin hotel.
Granite Properties is the
owner and is co-developing the
10-story building with Conflu-
ent Development.
Granite Managing Director
Stephanie Lawrence said Gran-
ite Place “will forever add to
and alter the Village Center sky-
line.”
“It is spectacular. I think it’s
really going to set the standard
for office product in the whole
Denver area,” she said at a Feb.
17 groundbreaking celebration
attended by team members,
numerous Greenwood Village
officials and others.
The building was designed
by Open Studio Architecture in
Denver and is being built by GE
Johnson Construction Co.
The project, which Lawrence
said has been a very collabora-
tive effort with the city and pre-
vious landowner, Koelbel and
Co., will give Granite Properties
more than a million sf of Class A
office product within a quarter-
mile of the location.
Confluent Development Presi-
dent and CEO Marshall Bur-
ton said Granite Place at Village
Center will provide a life-work
Granite Place at Village Center is a 300,000-square-foot Class AA office
building alongside Interstate 25 in Greenwood Village. Located at the
base of the pedestrian bridge to the Arapahoe at Village Center light-
rail station, it will be adjacent to a new Westin hotel.
Photos courtesy of dovetail solutions
Granite Properties Managing Director Stephanie Lawrence addresses a
crowd at the groundbreaking for Granite Place at Village Center. Seated
are, from left, Greenwood Village Mayor Ron Rakowsky and Marshall
Burton of Confluent Development.
