Colorado Real Estate Journal - August 17, 2016
Revolution is coming to RiNo. Revolution 3600, that is. A 150,000-square-foot Class A office building with outdoor space and a ground-floor food hall, Revolution 3600 will be located at 3600 Brighton Blvd. It’s being developed by a team led by Ed Haselden and Rob Cohen, who developed IMA’s headquarters at Denver Union Station. Revolution 3600 is a distinctive building in the heart of a neighborhood that continues to look for unique product, said JLL Vice President Peter Merrion. “The location is fantastic. It’s right in the middle of everything,” said Merrion, who noted the site is 1½ blocks from the 38th and Blake commuter rail station, and two blocks in either direction from a new Natural Grocers store and RiNo’s first hotel, The Source Hotel. Right across the alley is the Helikon Gallery, and 90 micro apartments that McWhinney is planning. A first-floor food hall/marketplace concept on the building’s north side will literally open its door to the alley on one side and, on the other, Brighton Boulevard. A restaurant space with outdoor seating will face toward the south. Each of the building’s five floors will have an outdoor deck, while the top floor will have a large, outdoor community space with mountain views where employees can take a break, work on their laptops or gather for special events. “We want that to be another community focused part of the building,” said Merrion, who is marketing the office space with JLL’s James Roupp and Ryan Arnold. At 30,000 sf, the rectangular floor plates are flexible and large for River North. “I think this is a floor plate that people get. It’s simple to plan, it’s simple to occupy,” Merrion said. To date, interest has come from architects, technology companies and financial services firms. “We think it’s going to be a fairly broad base because there’s a tremendous amount of focus on the employer side to attract and continue to attract the top talent. This is the next ‘it’ neighborhood in Denver,” he said. The city of Denver will be undertaking major infrastructure and streetscape improvements along Brighton Boulevard that will result in, among other things, an improved aesthetic, and access for bicyclists and pedestrians. Revolution 3600 will offer bike storage, and showers and lockers, plus there will be underground vehicle parking at a ratio of 2:1,000. “When you look at all the access in conjunction with all of the development of the neighborhood around it, with a heavy focus on retail, services, the hotel coming on line a couple blocks away, not to mention all the apartments being built around here, we think a lot of industry types are going to find that attractive,” Merrion commented. The team includes Anderson Mason Dale Architects, Haselden Construction and Wilson & Co., which is providing engineering services. In addition to the IMA building, the developers were involved with 1755 Blake and Millennium Financial Center in Lower Downtown, said Merrion. “They’re a group that’s accustomed to putting out boutique-sized, high-quality product. “It always helps in Denver when people know who they’re doing business with. I think office occupiers are going to say, ‘I can go visit three of the buildings they’ve built already. I know that it’s good-quality product. I know what it works well for some pretty well respected companies, so it’s going to work well for me.’” The “Revolution” concept recognizes there are pioneering companies coming into RiNo, but also long-established Denver firms looking for the next frontier, said Merrion. “I think what Revolution does is it gives a nod to the fact that you don’t have to be a specific person or a specific company. This is going to be a building that appeals to all of those users in a market that is pioneering – and that, in conjunction with the established ownership group, is reassuring.” Asking rates for office space average approximately $32 per sf triple net with anticipated expenses of $12 per sf. “That represents, plus or minus, a $6 to $8 (per sf) savings from the new product in and around Union Station,” Merrion commented. Groundbreaking is anticipated for second-quarter 2017, with completion in the third quarter of 2018. The building is being targeted for LEED Silver certification. The Zall Co. is marketing the restaurant and retail space. The building’s first-floor marketplace is conceived as a place with common seating where tenants and community members can pick up a cup of coffee, enjoy a beer or a sandwich from one or more of approximately eight concepts. “We want all of these concepts to be small because we want them fairly mixed and focused to be the best they can be for that use,” Merrion said. Revolution 3600’s overall design, including the flexible floor plates, retail, outdoor elements, location and accessibility, all lend to a tenant experience that should appeal to a range of tenants, said Merrion. “Whether you’re 22 years old or 50 years old, you’re going to be here and find a lot to like,” he said.