Colorado Real Estate Journal - December 17, 2014
Nationwide Insurance will move its Denver offices next year into 75,000 square feet at One Lincoln Station. The insurance company signed a long-term lease for the first three floors of the building, which is adjacent to the Lincoln light-rail station. It also will occupy a portion of the fourth floor. “I think it’s a testament to the quality of the building and the location,” said Jamie Gard of Newmark Grubb Knight Frank, who represented the owner, Westfield Co., in the transaction. Nationwide is a Fortune 100 company and “obviously a great tenant for us,” said Randy Schwartz, Westfield’s chief operating officer. “The business units we understand will be going in there will be a good match for that area and the TOD service,” he said. The deal consumes a little more than half of One Lincoln Station, an approximately 144,000-sf building that Dex Media vacated this year. “We’ve had good activity ever since Dex left in the first quarter,” said Schwartz. “There are probably a good four or five tenants in the market that could very easily backfill the balance of that building,” he said. Those tenants obviously are evaluating all the options in the market, he said, but, “We’re certainly in the running with most.” Nationwide Insurance currently offices at Stanford Place II in the Denver Tech Center. A spokeswoman said the space at One Lincoln Station better meets the company’s needs. Approximately 450 associates will office there following the move in mid-2015. One Lincoln Station, located at 9380 Station St. in Lone Tree, is a six-story, Class A, LEED-certified building. It has an underfloor air distribution system for improved indoor air quality and individual temperature control, floor plates of approximately 25,000 sf and a covered-parking ratio of 4:1,000. Courtney Hasson of Newmark Grubb Knight Frank is the co-listing broker for the property. Nick DiPaolo and Alex Hammerstein of CBRE represented Nationwide in the lease transaction.