Colorado Real Estate Journal - May 6, 2015
Prologis preleased approximately 90,000 square feet of office space at Z Block in Lower Downtown Denver, where it will relocate its operations headquarters. Prologis will occupy the top two floors of the 235,000-sf, sixstory building under construction on Wazee Street between 18th and 19th streets. The industrial real estate developer, now located off Interstate 70 and Peña Boulevard in Denver, will have building signage. “Bringing Prologis to LoDo adds to the undeniable energy and activity surging through Denver that is attracting the best businesses and workforce from across the country,” Denver Mayor Michael B. Hancock said in a statement. “The decision to relocate our operations headquarters was significant,” said Edward S. Nekritz, Prologis chief legal officer and general counsel. “It was important for us to put our stamp on a new building and office environment that reflects our culture. Z Block will be a fantastic addition to LoDo, and we look forward to being an integral part of this important development for the long term.” McWhinney is developing Z Block, which also will include a hotel and retail development. The project will be completed in 2016.
Peter Schippits will join CBRE as senior managing director and market leader for the Colorado Region, replacing Ray Pittman, who previously announced plans to oversee CBRE’s business in Australia and New Zealand. Schippits formerly was managing director of investor services at JLL. “Over the last 10 years, Pete has been one of the most respected commercial real estate professionals in the Denver market,” said Pittman. “He brings strong leadership acumen and understands the business from the ground up, qualities which are critical in providing leadership that drives strong business results for our clients in Colorado.” Schippits will oversee all CBRE business lines in Colorado, including the company’s five offices with approximately 500 employees. Prior to joining JLL, Schippits was a real estate business and tax-planning attorney at Gelt & Grassgreen, a Denver-based boutique law firm.
MVG Development Inc. has joined forces with Confluent Development Services to create a diverse development firm that will operate as Confluent Development. The newly combined company has a half-billion dollars in booked projects across the industrial, office, retail, multifamily and senior housing segments, making it one of the most active private commercial developers based in Colorado. MVG, focused on retail development and senior housing, has developed more than 85 projects since 2008. “This new diversified entity will allow us to compete in all key segments of real estate development with real strength,” said James Dennis, senior executive. “Combining Confluent’s reputation and accelerated growth with MVG’s national footprint makes the new firm one of the most nimble development com panies in the nation,” said Marshall Burton, who along with Confluent’s Celeste Tanner has more than 30 years and 8 million square feet of combined development experience. Industry veteran John Shaw has joined Confluent Development’s board of directors.
Brookfield Property Partners LP will undertake renovations to Republic Plaza’ s concourse level this summer. The transformation of the 15,000-squre-foot concourse level will include a new conferencing center with the latest technology, a top-of-the-line fitness center and collaborative space that will include a café. The project will create usable open-air green spaces that allow natural light into the areas below the street level. “Brookfield is proud to invest over $5 million to offer its tenant community premier office space that incorporates innovative amenities,” said David Sternberg, executive vice president of the Midwest and Mountain regions of Brookfield’s U.S. Office Division. “The transformations to Republic Plaza’s concourse will continue to make it the most attractive business address in the city for both employers and employees.” Brookfield has owned and managed the 56-story Republic Plaza, Denver’s tallest building, since 1986.