Colorado Real Estate Journal - May 21, 2014

Tenants take 20,000 sf plus in Cherry Creek N., Westminster

by Jill Jamieson-Nichols

---

Recent office leasing activity in the Denver area included a deal for two floors of Class A space in Cherry Creek, a 21,373-squarefoot sublease of single-story space in Westminster and a number of other transactions.

Cambiar Investors LLC, a Denver-based investment management firm, signed a lease for just over 20,000 sf at 200 Columbine, the office component of the $100 million 250 Columbine mixed-use project in Cherry Creek North.

Cambiar is the first office tenant to take space in the building, which is expected to be ready for movein by May 2015.

“We have grown considerably during the past few years as we have commercialized several new product areas that have added to our range of investment strategies in the U.S. and beyond.

Our professionals love working in Cherry Creek North and are excited about moving our headquarters into one of the premier office buildings in Denver,” Brian Barish, Cambiar Investors president, said in a statement.

Western Development Group is developing 250 Columbine, which will include 80,000 sf of office space, 71 luxury condominiums and 30,000 sf of high-end retail space. Jeff Caldwell and Blake Harris of Pinnacle Real Estate Advisors are the listing brokers for the office space. David Larson and Julie McBrearty of Urban Legend are the retail brokers.

Making tracks

Regional Rail Partners, a joint venture of Balfour Beatty Rail and Graham Contracting that was awarded the contract to build the North Metro Rail Line, subleased 21,373 sf of office space from Polycom at PrimeCenter at NorthRidge at 1765 W. 121st Ave.

in Westminster.

Regional Rail Partners is gearing up to construct the $343 million, 12.5-mile extension of FasTracks from Denver Union Station to 124th Avenue. The North Metro Rail Line is expected to go into service in 2018. There also is an option to extend the line to 162nd Avenue.

RRP retained Matt Smith of Vector Property Services LLC to find office space to house its 90-plus-person design-build core team. “Matt found an ideal space for us just off 120th Avenue that is close to the project limits and also included most of the furniture with an efficient layout,” said Ravi Swamy, project director. “We had a short fuse from the award of the contract by RTD to the time we needed to be up and running. Thanks to the hard work of Matt and Greg Gonzales of RRP, and the cooperation of Polycom and their brokers, Cale Miller and Karla Tucker-Smith from DTZ, we were able to complete the sublease quickly,” he said.

In other recent office deals: Modern Railway Systems leased 12,122 sf of space at 8201 Southpark Lane, Suite 200, in Littleton from H2R LLC.

Carole Schumacher of BRC Real Estate represented the tenant. Greg Titus of Pinnacle Real Estate Advisors was the listing broker.

Schumacher also represented Riverstone Residential SW LLC in leasing 7,813 sf of space from CSHV Denver Tech Center LLC at 5445 DTC Parkway, Suite 1300, in Denver.

Joe Serieno of CBRE represented the landlord.

Boardroom Executive Suites, a Denver-based provider of full-service executive suite offices, virtual office services, offices on demand and conference room rentals, leased 7,595 sf for a second location in Lower Downtown Denver. The executive suites will be located in the Grand Central Building at 1625 17th St.

David Morrison of Colliers International represented the building owner. Tim Bourdelais of JLL represented Boardroom, which will occupy the entire third floor of the building. Preleasing of full-service executive suite offices and virtual office services is under way.

Rocky Mountain Transload/ BW Leasing LLC leased 5,000 sf of office space at 4475 E. 74th Ave., Suite 203, in Commerce City.

Bill Reilly of Sperry Van Ness/ The Group Commercial in Fort Collins handled the transaction.

GEP Investments Inc. is the landlord.