CREJ

Page 2 — Office Properties Quarterly — December 2019 www.crej.com Contents Letter from the Editor T wo popular topics within this issue are the tech industry’s continued strength and the need for more large blocks of office space in the heart of the city.While often it is assumed that tech businesses want to be located in busy, urban environments, over the past few months, Colorado Real Estate Journal has covered a flurry of new office project announcements happening outside of the city center: • Westray, a Schnitzer West project, will include three 16-story office towers consisting of approximately 850,000 square feet of Class A office space on 11 acres at 6363 Greenwood Plaza Blvd. in Cen- tennial. • Paradigm River North, 192,000 sf of creative office space at 3400Wal- nut St. in River North, will be eight stories tall and feature 25,000-sf floor plates. The Jordon Perlmutter & Co. project will be designed by Tryba Architects and leased by Newmark Knight Frank. • Santa Fe Yards will feature four office buildings with the potential to offer 1 million sf of Class A office space on 9 acres. KDC formed a joint venture with Broadway Station Part- ners to develop the buildings within the 41-acre Broadway Station transit- oriented development. • The city of Westminster partnered with developer Schnitzer West to bring 650,000 sf of office develop- ment to the U.S. Highway 36 corridor in downtownWestminster. The first building, which is in design, will include ground-floor retail with six to seven stories of office space above and will be developed on a specula- tive basis. Given all of these new projects, it will be interesting to see if some can woo any of these migrating tech firms to areas outside of downtown Denver. Additionally, in order to continue on our trajectory, it won’t be enough to simply land expansion offices. Authors write that Colorado needs to target relocations and secondary headquarters of tech businesses – as well as other corporate office users. If recent activity is any indicator, that might not be such a lofty goal. For example, Kiewit Corp.’s new regional headquarters campus was announced to be in the Ridge- Gate development of Lone Tree on approximately 12.6 acres of land. The 400,000-sf office complex is designed to accommodate more than 1,700 employees. Meanwhile, Ent Credit Union broke ground on its new 330,000-sf, seven-story headquarters campus near InterQuest Parkway and Interstate 25 in northern Colorado Springs. The 29-acre parcel could accommodate 650,000 sf at build-out and as many as 1,100 employees over the next seven to 10 years. All while Partners Group opened its Americas headquarters, consisting of a newly constructed 129,400-sf campus in Broomfield, and All Copy Products opened a new headquarters in Den- ver’s Lincoln Park. Michelle Z. Askeland maskeland@crej.com 303-623-1148, Ext.104 Colorado’s busy fourth quarter 4 6 7 8 10 11 12 13 14 15 16 Positioning Denver to maintain corporate attraction Robert Knisely Denver market continues unprecedented run Mark W. Kennedy Suburban office enjoys out-of-state buyer attention John Becker Office lending financial structures get creative Alex Riggs Investors: Why you shouldn’t fear a recession Brian Watson Denver on the cusp of becoming tier 1 tech hub Matt Harbert Space invaders! Tech ‘aliens’ abduct office space Andrew Blaustein and Matt Davidson Denver’s tech industry trajectory remains strong Harrison Archer Office developers: Please look closer at Golden Alexander F. Becker The new inclusivity for workplaces is neurodiversity Kay Sargent Workplace trends: When good art is good business Martha Weidmann