Page 10 —
COLORADO REAL ESTATE JOURNAL
— June 1-June 14, 2016
Office
by Jill Jamieson-Nichols
Kärcher North America’s
high-image corporate headquar-
ters near Denver International
Airport sold for $19 million, or
approximately $218 per square
foot.
Prologis, which developed the
87,200-sf building and leased it
to Kärcher, was the seller. The
buyer is believed to be an inter-
national institutional investor.
Located at 4555 Airport Way,
the building sits next to Pro-
logis’ operational headquarters.
Both buildings have highly vis-
ible signage, and they are the
first corporate office buildings
people see when heading into
Denver from Denver Interna-
tional Airport.
Kärcher is one of the world’s
largest manufacturers and
providers of floor care clean-
ing equipment and services for
the industrial, commercial and
residential markets. It signed a
10-year lease for the building
about 1½ years ago, saying the
building provided needed room
for expansion and better reflect-
ed its corporate image than its
previous location in Englewood.
Constructed as a headquarters
building, the four-story build-
ing has voluminous ceilings, a
grand lobby with granite floors,
a fitness facility, conference cen-
ter, employee dining facility, and
an outdoor plaza with seating
and a water feature. It was built
in 2008 and is LEED Silver certi-
fied.
CBRE Inc.’s Mike Winn,
Tim Richey and Chad Flynn
reportedly handled the trans-
action. They didn’t respond to
a request for comment on the
transaction.
s
Kärcher North America’s corporate headquarters building sold to an international investor.
by Jill Jamieson-Nichols
SendGrid’s move to a down-
town Denver high-rise will triple
itsColorado footprint andpave the
way to continue growing its work-
force in the Denver-Boulder area.
The Boulder-born company will
move its headquarters to 52,000
square feet at 1801 California St.
in the fourth quarter. SendGrid,
a cloud-based email delivery
provider, is the second large tech
tenant to land in the building in
the last year. Ibotta, which allows
shoppers to earn rebates on online
purchases, leases 39,000 sf.
Approximately 200 SendGrid
employees will work in the
new location, which is capable
of housing 450 workers as the
company grows.
“We feel like it’s going to be a
place to grow the company going
forward,” said David Friedman,
SendGrid director of corporate
communications. “We want to
drive employee engagement, pro-
ductivity and collaboration, and
the best way to do that is to have
all our employees in one location.”
SendGrid will maintain a small
presence in Boulder to retain ties to
the tech community there, includ-
ing the Techstars accelerator.
Borrowing from a Silicon Val-
ley practice, it will invest in a Wi-
Fi-enabled shuttle service to con-
nect employees in Boulder with
the new headquarters. SendGrid
believes the shuttle will be a long-
term recruiting tool, allowing it
to continue to tap talent in both
Denver and Boulder.
“Really it wasn’t an option for
them to expand in downtown
Boulder,” saidChris Boston of Gib-
bons-White Inc., who represented
SendGrid in the lease. “There was
no space available at 50,000 square
feet.”
The headquarters build-out will
include lots of collaborative space
and productivity tools, and will be
designed by Hampton Architec-
ture in Longmont. “They will help
us create a market-leading expe-
rience for our employees,” said
Friedman.
Brookfield Office Properties
owns 1801 California St.
“We are thrilled that they have
chosen to grow their platform in
downtown Denver and at 1801
California,” said David Sternberg,
executive vice president of Brook-
field’s Mountain and Northern
California U.S. Office Division.
“We think it’s great for the city.
We’re thrilled to be growing the
tech sector in the property as
well.”
Brookfield completed a more-
than-$50 million renovation of
1801 California St. after buying
the property in late 2011. The 1.3
million-sf tower has light-rail and
Free MetroRide stops on both
sides of the building.
“It’s a building and location that
resonates with people who want
to use public transportation,” said
Sternberg.
That was a prime consideration
for SendGrid, said Boston. Plus,
“They wanted building ameni-
ties or nearby amenities – various
restaurant and coffee options,” he
said, adding, “1801 California has
common area conference rooms
that were attractive to them, and
it also has a fitness center that
was seen as desirable for their
employees.”
Boston is marketing SendGrid’s
existing 20,000 sf at 1401 Walnut
St. in Boulder for lease.
The company signed a seven-
year lease for the downtown
Denver space, according to
Friedman.
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