Colorado Real Estate Journal - September 16, 2015
One energy company’s loss was another’s 19,592-square-foot gain. Laramie Energy Co., which has outgrown its space at Writer Square, subleased a portion of Pioneer National Resources Co.’s former space at 1401 17th St. in Lower D o w n t o w n Denver. “Oil and gas is a d y n a m i c industry, as we have witnessed firsthand in Denver,” CBRE Senior Vice President Greg Holm said in a press release. “The silver lining is that, when one company makes the decision to vacate its space mid-lease, it creates an opportunity for another growing company to transition into better space and take advantage of below-market rates.” The sublease consumes about half of Pioneer’s former space in the building. Approximately 20,000 sf remains available. “We were attracted to the space because it was already built out and felt brand-new without having to undergo a large capital investment,” said Laramie Energy President and Chief Financial Officer Bruce Payne. Holm, with CBRE’s Denver Occupier Advisory and Transaction Services group, represented the company in the sublease. “We could not have been anywhere as successful in this endeavor without Greg’s invaluable business advice and management of the timetable at every stop of the way,” said Payne. Laramie Energy will occupy the entire 14th floor of the building and half of the 13th floor Dec. 1. CBRE’s Project Management Services is providing project management and move management for the relocation.