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Spec office building along SE corridor

Highlights:

  • Prime West plans $90 million office tower.
  • Goldman Sachs is a partner at the deal.
  • Tower will be at I-25 and Belleview.
One Belleview Station

One Belleview Station

Denver-based Prime West Development will develop a $90 million, 310,000-square-foot office tower at a prime intersection along Denver’s southeast corner.

 One Belleview Station, a joint venture between Prime West and the Goldman Sachs Group Inc., will be a rare “speculative” office building, which means construction will begin without substantial pre-leasing commitment in place from tenants.

 The energy-efficient building will be an anchor in the 42-acre Belleview Station, a fledgling mixed-use community at the northwest quadrant of Interstate 25 and Belleview Avenue.

  “For today’s office building to be successful, it must provide tenants more than in the past,” said Steve Clarke, president and CEO of Prime West.

 “Features such as flexible floor plates and an efficient mechanical system to reduce operating costs are a given in today’s market,” Clarke continued.

 “In order to attract and retain the best employees companies also require sustainable design, immediate and convenient access to mass transit and walkable access to a robust array of amenities such as fitness centers, restaurants, coffee shops, financial services and other amenities you would find in an urban location, aka ‘urban/suburban,’ all of which are provided by One Belleview Station,” Clarke said.

Construction will begin in January, after Conoco has vacated the site.

The Denver office of the Weitz Co. will be the general contractor for the project.

Designed by Gensler’s Denver studio, the 16-story building will include five levels of structured parking, a fitness center, outdoor meeting and plaza areas, as well as retail and restaurant space on the ground level fronting Belleview Avenue.

Each floor will have 9-foot-6-inch ceilings and be designed without interior columns, allowing tenants maximum flexibility in planning their spaces. Building signage is available to major tenants, views are maximized in all directions. Prime West is seeking LEED certification for the building.

 t is being leased by Ryan Stout and Nathan Bradley, senior directors at Cushman & Wakefield of Colorado Inc.

“Due to the project’s visibility and access from I-25, its walkable access to mass transit and the restaurant/retail/services space that will be immediately contiguous to the project, we believe this is the premier development site in all of the southeast market,” Stout said.

 “There are a significant number of companies looking for this type of environment for their employees,” he added.

Front Range Land and Development Co. is the master developer of Belleview Station.

When built out, Belleview Statin will include two full-service hotels, 2.2 million square feet of office space, 250,000 square feet of walkable retail space, 1,800 residential units and more than five acres of plazas and open space.

 Holland Partners, based in Vancouver, Wash.  currently is completing a 352-unit apartment building that includes 31,000 square feet of retail at Belleview Station.

 The company has broken ground on its second phase with 325 apartments that will include an additional  39,000 square feet of retail.

 The retail space will include up to seven restaurants that will be new to the Denver market.

 They will be contiguous to One Belleview Station, which greatly enhances the desirability of the office project to prospective companies.

“Aside from Belleview Station’s ideal location, we have a vision and a plan to build a place that will redefine the patterns in southeast Denver for years to come,”  said Trey Warren, vice president of Front Range Land and Development.

 “We are not only making good on a promise to Denver and RTD to deliver a model for smart growth that will reduce automobile dependency and sprawl into the future, but we are listening and responding to the market with projects that are attractive to the new generation,” Warren continued.

 “One Belleview Station is an important next step and we are thrilled to have a team like Prime West and Goldman Sachs to make it a reality”

Have a story idea or real estate tip? Contact John Rebchook at  JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal