Colorado Real Estate Journal - July 1, 2015
A private equity firm that invests in travel and leisure businesses leased the top floor of a new, high-profile building in Cherry Creek. KSL Capital Partners signed a 10-year lease for 17,564 square feet on the eighth floor of 100 St. Paul, a 149,000-sf office building with street-level restaurant and retail space. The transaction brings leasing in the building to 67 percent, according to Andrew Sturno of The Pauls Corp., which developed the building in a joint venture with FirstBank. “It’s been a long time coming, but it’s pretty exciting,” Sturno said of the building. The developer broke ground on 100 St. Paul in 2013, and the first tenant improvements recently got underway. The building is one of the first new Class A office buildings to be built in Cherry Creek in more than 25 years. Other tenants will include FirstBank, Del Frisco’s Grille and LIV Sotheby’s International Realty. The sixth and seventh floors are available. Located at the corner of East First Avenue and St. Paul Street, 100 St. Paul is an iconic LEED Gold building designed by HKS Inc. It features a 30-foothigh lobby; 19,500-sf floor plates; 9-foot, 6-inch ceilings; underground parking; showers and lockers; secured bicycle storage; electric car charging stations; and abundant glass, offering downtown and mountain views. GE Johnson is the general contractor. Nicholas Pavlakovich and Matt Gautreau of Cushman & Wakefield of Colorado Inc. are the listing brokers for the building. Todd Wheeler, also of Cushman & Wakefield, represented KSL Capital Partners in its lease.
-United Properties has signed a 13,500-square-foot lease with Rise Broadband, the nation’s largest fixed wireless broadband provider, in Inverness Business Park. The office space at 61 Inverness Drive in Englewood will serve as Rise Broadband’s corporate headquarters and brings the 87,000-sf building to 96 percent leased. Rise will relocate from 400 Inverness Parkway. It chose the new location because of recent renovations to the building, move-in-ready space and ample parking, according to United Properties. “Our new space at 61 Inverness gives us the opportunity to continue our rapid growth in the heart of the country’s telecom hub,” Jack Koo, Rise Broadband president and CEO, said in a statement. Dan Miller, Doug Wulf and Robert Knisely of DTZ represented United Properties in the transaction. Aaron Evans of NewOption Partners represented the tenant. United Properties acquired 61 Inverness in 2013 and completed an extensive building renovation last year. -J-W Power Co. signed a new five-year lease for 3,600 sf of office space at Plaza Quebec, a Class A office building at 6025 S. Quebec St. in Greenwood Village that recently was acquired by Palisades Private Capital Fund I. J-W Power is an industry leader in leasing, sales and servicing of natural gas compression equipment. “We are pleased to welcome the J-W Power Company to Plaza Quebec as the first new tenant to join since our ownership began earlier this year,” said Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, a partner in the ownership. “With the goal of 100 percent occupancy by year-end, we are generating early momentum and taking an aggressive approach to the market and making commitments to continue to improve the property over the next several months. The building was 85 percent occupied when Palisades acquired it. -Metro Migrant Education leased 3,900 sf of office space at 14707 E. Second Ave., Suite 180, in Aurora. Mary Jo Cummings of API Sheldon Gold Realty Inc. represented the landlord. Casey Carmichael and Bruce Johnson of Cresa Partners represented the tenant. -Neibur Golf Development LLC recently purchased 2,770 sf of office space at 212-222 Front St. in Castle Rock from Kathy R. Hamacher. The building is within walking distance of shopping, dining and services. Matt Call of NavPoint Real Estate Group represented the buyer. Tom Rieber of Rieber Realty Colorado represented the seller.