DENVER | Main Development Thread #6

[TakeFive]

Originally Posted by seventwenty

Best guess from a Google search.

Good work.

Ea Gads. Over 940,000 SF available pending updates I assume?


Brainpathology... LOL, too true.

[Denver]

Originally Posted by TakeFive

Good work.

Ea Gads. Over 940,000 SF available pending updates I assume?

I am answering my own question here, but according to the 1801 California website, there is 503,000 sqf. I am not sure if this is including coors and Transamerican or not.

http://1801california.com

[seventwenty]

Originally Posted by Denver

I am answering my own question here, but according to the 1801 California website, there is 503,000 sqf. I am not sure if this is including coors and Transamerican or not.

http://1801california.com

Yeah the reported numbers are all over the place. I'd imagine the actual availability at 1801 is around 500,000 sq feet, possibly well under that number.

ETA:

Originally Posted by 1801 California website posted by Denver

Flr 45/4500 22309 Yes 7/1/12 Office Full Floor
Flr 46/4600 22341 Yes 7/1/12 Office Full Floor
Flr 47/4700 22389 Yes 7/1/12 Office

Originally Posted by Denver Biz Journal

Molson Coors Brewing Co. will relocate its U.S. headquarters next year to Denver's second-tallest building: 1801 California.

The company (NYSE: TAP) has leased 53,872 square feet in the 54-story tower at 1801 California St., which was purchased and upgraded by Brookfield Office Properties Inc. last year.

Molson Coors will renovate the office areas, located on the 45th, 46th and part of the 47th floors, beginning in the spring. The company expects to inhabit the new space in fall 2015.

[TakeFive]

Originally Posted by Denver

I am answering my own question here, but according to the 1801 California website, there is 503,000 sqf. I am not sure if this is including coors and Transamerican or not.

http://1801california.com

Ahh, well done. That sounds much more realistic to me or even less pending Transamerica possibly. That's still a lot of Sq Ft but that was the nature of that beast when they bought it. Brookfield is a large international owner of urban center office buildings including Denver's two tallest.

Come to think about it if they started off with over 940,000 SF to lease up then they've been filling that space at a pretty good pace I'd think.

[seventwenty]

More 1801 California sleuthing on the DBJ.

Originally Posted by DBJ Jan 2014

In fact, leasing momentum picked up in the fourth quarter as five deals with new tenants were inked, said Nick Pavlakovich, Cushman executive director.
That brings the 1.3 million-square-foot building’s occupancy — which at one time was well below half-full — to about 60 percent [or 520,000 sq feet available]

ETA: And on the Denver Post.

Originally Posted by Denver Post May 2014

San Diego-based Kleinfelder, a major engine in the Regional Transportation District's $1.2 billion light-rail line to the airport, on Monday said it will consolidate its metro offices on the 11th floor of the tower at 1801 California St. in downtown Denver

. . .

The deal for 31,385 square feet at 1801 California St. puts the vacancy rate for the 1.3 million-square-foot skyscraper at about 40 percent [still 520,000 sq ft available], down from 75 percent when the building was acquired by Brookfield Office Properties in December 2011, leasing agent Cushman & Wakefield vice chairman Nick Pavlakovich said.

May 2014 appears to be the last update. So yes, well under 500,000 sq ft available once Molson and TransAmerica move in.

[Denver]

Originally Posted by seventwenty

More 1801 California sleuthing on the DBJ.



ETA: And on the Denver Post.



May 2014 appears to be the last update. So yes, well under 500,000 sq ft available once Molson and TransAmerica move in.

If you look at the 1801 California page, it still lists floor 45, 46, and 47 as being available. If the space being occupied as Coors is still being shown as available, I am guess that the page has not been updated yet to reflect Coors or Transamerica. I wouldn't be surprised if the actual number was closer to 300,000.

[TakeFive]

Just to put a wrap on Gaylord...

I don't really have a fetish for this specific project so much as I support the concept of growing the convention and tourism pie.

In effect you're "exporting" the appeal of your assets and importing droves of fresh cash that greatly benefit the economy. People fly in (mostly) bringing business to DIA, your hotels, restaurants, some car rentals etc, all of which are also great sources of tax revenue. Then they go back home without making ongoing demands on the infrastructure.

It's not exactly free money but it is a great return on any investment. I'd assume that this is what the legislature and Governor were thinking and wanting when they passed the Regional Tourism Act.

In addition to being very profitable, convention and tourism business will create jobs of course. Even Arizona with its tepid post-recession growth is projecting an increase of over 23,000 jobs over the next two years in "leisure and hospitality." From a socioeconomic POV, while they (mostly) aren't high paying jobs they are generally low-skill job opportunities which is a good thing.

The front range can't compete for Super Bowl or college bowl games or Spring Training. It can't compete with Disney Land and World. It doesn't have the history or population density of northeastern states.

Perhaps Denver/Aurora/Adams County should come up with a western-themed - fake and corny - "Wild West Resort and Casinos" concept. I'm sure there are good ideas out there waiting to be discovered and exploited.

[seventwenty]

Originally Posted by Denver

If you look at the 1801 California page, it still lists floor 45, 46, and 47 as being available. If the space being occupied as Coors is still being shown as available, I am guess that the page has not been updated yet to reflect Coors or Transamerica. I wouldn't be surprised if the actual number was closer to 300,000.

Right, and I pointed out floors 46-47 in a previous post. I wish we knew which floors Transamerica will be taking, as we could getter a better idea of not only how much space remains in 1801 but also which floors remain. Still, looking at the data you provided, there's the 53,000 or so sq ft that Molson will be taking. Plus the 121,000 sq ft or so of space that Transamerica will be taking. That brings us close to 300,000 remaining, as you correctly point out. Looking further at your 1801 link, and assuming that Transamerica will want their office space to be on sequential floors, I'm betting Transamerica is strongly considering floors 17-22. Here's why:

Flr 17/1700 26526 [sq ft] Yes 7/1/12 Office Full Floor
Flr 18/1800 26546 [sq ft] Yes 7/1/12 Office Full Floor
Flr 19/1900 26587 [sq ft] Yes 7/1/12 Office Full Floor
Flr 20/2000 26547 [sq ft] Yes 7/1/12 Office Full Floor
Flr 21/2100 26684 [sq ft] Yes 7/1/12 Office Full Floor
Flr 22/2200 26802 [sq ft] Yes 7/1/12 Office Full Floor

6 floors with about 156,000 or so sq ft between them. Take 5 of the 6 and you're at 121,000 sq ft. Theres are no other set of available and connected floors that can add up in the building.

ETA: No I'm wrong. Floors 4-7 have 140,000 or so sq ft available:

Flr 04/400 37709 Yes 7/1/12 Office Full Floor
Flr 05/500 35887 Yes 7/1/12 Office Full Floor
Flr 06/600 35875 Yes 7/1/12 Office Full Floor
Flr 07/700 35819 Yes 07/01/13 Office Full Floor

So 2 sets of floors that suit Transamerica's needs, assuming they want everyone in their company working close to one another.

[The Dirt]

I didn't know RTD was building a light rail line to DIA. The Denver Post is such an informative magazine.

[Brainpathology]

Originally Posted by The Dirt

I didn't know RTD was building a light rail line to DIA. The Denver Post is such an informative magazine.

Compared to Cory Booker will reduce gridlock and work as a bipartisan senator that's Pulitzer prize caliber accuracy.

[DenverInfill]

A new article in the DBJ says that 1801 California is 73% leased.

[TakeFive]

Green Shoots

Although we've all read about Downtown Denver's growing appeal among Millennials and others; the appeal of light rail and other transit; the advantages of being centrally located...

It's always nice to have this affirmed by recent lease announcements. Suburbs back to the city center? Way cool. If 1801 California St. is now 73% occupied that's quite a healthy turn-around from being near 75% vacant and also demonstrates that there is appeal for the traditional financial center as well as the hot LoDo/Union Station areas. Also looking better and better for a 1144 15th Street groundbreaking.

Green Shoots - Green Day - Time of Your Life - Happy Friday

[comoneymaker]

Liberty Media moving downtown as well.

http://www.bizjournals.com/denver/blog/r...relocating-headquarters-to-downtown.html

[wong21fr]

Originally Posted by comoneymaker

Liberty Media moving downtown as well.

http://www.bizjournals.com/denver/blog/r...relocating-headquarters-to-downtown.html

It's just Liberty Global that's moving, though it would be awesome if Liberty Media also decided to move DT.

[TakeFive]

Denver Cityscape has learned that a new mixed-use project is in the early planning stages for half a block in downtown Denver. The project, proposed on existing surface parking lots along Curtis Street between 17th and 18th, is currently programmed to include a 22 story office building fronting on 17th Street and a 30 story hotel/condominium tower on 18th Street. The two buildings would be connected by a 7 story parking structure. Ground floor retail is proposed along all three street frontages. Additional information should be available in the spring of 2008, if the project moves forward.
Originally Posted by denver-cityscape.com 12/4/07

(Credits to SnyderBock 12/08/2007)

[DenverInfill]

Originally Posted by TakeFive

(Credits to SnyderBock 12/08/2007)

Huh?

[TakeFive]

Originally Posted by DenverInfill

Huh?

Do your eyes deceive you? Try this. (LOL)

[seventwenty]

The Metro Areas Where Rent Is Rising Fastest

Zillow used their Rent Index to follow rent increases from January 2014 to January 2015 in cities across the country. They raked the cities with the highest percentage increase. Here are the ten highest, along with their median rent prices and how much they've actually increased:

1. San Francisco
Median rent: $3,055
Increase: 14.9%

2. San Jose, Calif.
Median rent: $3,190
Increase: 13.4%

3. Denver
Median rent: $1,827
Increase: 10.2%

. . .

If those numbers don't look right for your city, keep in mind, these include single-family homes, condos, apartments and co-ops. It also includes the surrounding metro area of the city. According to Zillow:

The Zillow Rent Index is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow's database, regardless of whether they are currently listed for rent. It is expressed in dollars.

Original source.

More info on the Zillow Rent Index

[DenverPoke]

Originally Posted by TakeFive

Do your eyes deceive you? Try this. (LOL)

I think he is saying Trango Tower is back and Denver may or may not be hosting the 1976 Winter Games.

[Curtis Park]

This isn't really about infill, but sort of, in my case. I want to build an ADU over my garage. I'm looking for a simple online tool that can help me with the layout. I just need to be able to get general measurements so I have a place to start once I hire a professional. Any tips or suggestions?