Colorado-Real-Estate-Journal_418692

Page 8 - September 4-17, 2024 www.crej.com F rom the constructionof tene- ments in the 1800s to thehigh- rise steeland concrete luxury residential towersbuilt today, for-renthousinghas comea longway.Butone constant is the useofwood tobuild rentalhous- ing.Over theyears,architectsand engineershavepushed the limitsof whatwood cando,and theadoption of the 2015 InternationalBuilding Codeallows this to continue. Not everyone ishappy though. continueddemand forhousing,esca- lating construction pricesand theabil- ity toachieve even higherdensities under the recent IBC,wedon’tantic- ipate thenumber ofnewwood-frame buildingsadded to theDenver land- scapewilldimin- ability todesignapodiumbuilding basedon theoverallbuildingheight. Podiumbuildingswillno longer be restricted toonlyone levelof podium structurebelow thepodium deck. This givesdesigners theability to designa seven-story,midrisebuild- ingwith five levelsofwood-frame constructionover two levelsof con- cretepodium –allabove grade.With thisadditionalabove-grade levelof concrete, the flexibilityandoppor- outof the ground to save the costof building subterranean,which is typi- cal in traditionalpodiumdesigns. Anotheroptionwouldbe to leave the subterraneanparking,which allowsanadditional levelof residen- tialunitswithin the concretepor- tionof the structure, thus increasing density.Bothoptionswill change how thedesignworldand residen- tialdevelopers lookat thepotential ofa site. Photography©BradNicol The2015 InternationalBuildingCodeofferswood-frame construction theability todesignapodiumbuildingbasedon theoverallbuildingheight.Podiumbuildingswillno longerbe restricted to only one level of podium structure below the podium deck. October 2015 New wood-frame codes allow for more flexibility NathanSciarra, AIA Studio director, KTGYArchitecture 1536 Cole Blvd., Building 4, Suite 300, Lakewood, CO 80401 | 303-623-1148 | www.crej.com Jon Stern Publisher & Founder x 101 jstern@crej.com All rights reserved. No part of this publication may be stored, reproduced, or transmitted in any form or by any means without the publisher’s prior written permission. All contributed articles published in the Colorado Real Estate Journal represent solely the individual opinions of the writers, and not those of the Colorado Real Estate Journal. REPORT AN ERROR IMMEDIATELY (ISSN 1060-4383) Vol. 33 No. 17 www.crej.com EDITORIAL CONSULTANT: Jill Jamieson-Nichols PRODUCTION/GRAPHIC DESIGN: Heather Lewis ext.108 hlewis@crej.com CREJ CONFERENCE SERIES: Jon Stern ext.101 jstern@crej.com ADVERTISING: Lori Golightly ext.102 lgolightly@crej.com CUSTOMER SERVICE: Jolene Wollett ext.103 jwollett@crej.com EDITORIAL Avalon Jacka, Reporter Sales, Lease and New Development Projects: Office, Industrial, Multifamily, Retail, Health Care, Senior Housing, Hotel, Land Finance Transactions ext.107, ajacka@crej.com Kris Stern Associate Quarterlies Publisher: Office & Industrial Properties, Retail Properties, Multifamily Properties, Property Management, Health Care, Senior & Life Sciences Editor: Construction, Design & Engineering News; Property Management News; Who’s News; and Expert Articles, including Law, Accounting and Finance Publisher: Building Dialogue ext. 109, kostern@crej.com MARKETING Lori Golightly, Director of Client Services Advertising: Print & Digital Conferences: Exhibitor/Sponsor Information ext. 102, lgolightly@crej.com Office by Avalon Jacka DENVER – A digital solutions provider opened its new global headquarters in the Denver Tech Center. Accuris celebrated the grand opening of the 21,000-square-foot office in August. The company occupies the entire third floor of Stanford Place II at 7979 E. Tufts Ave. The state-of-the-art office is the company’s latest addition to its global locations, following recent office openings in the U.K., India, Malaysia and Japan. CBRE represented Accuris in its seven-year lease deal with land- lord Stanford Co Owner LLC. The owner entity’s address listed on public records is associated with Los Angeles-based private real estate company Lowe Enter- prises. “As we broaden Accuris' global reach, we remain deeply commit- ted to our strong Denver roots, and we are excited to grow our presence here," said Accuris CEO Claude Pumilia. "With the out- standing talent at Accuris and the vibrant tech ecosystem surround- ing us, we are thrilled to be part of the Denver and greater Colorado tech community.” Accuris’ previous Denver area office was located in the S&P Glob- al office in Englewood. Following Accuris’ official launch in May 2023 after its divestiture from S&P, the stand-alone company “needed a new home” and was “keen to keep our established presence in Denver with many employees based in the area,” Pumilia said. The new office features modern office space with 120 workstations and nine conference rooms for internal and customer meetings. The space underwent “signifi- cant upgrades” prior to the grand opening, including “optimizing the infrastructure for our technol- ogy-focused population (with lots of open space and common areas) and building out state-of-the-art conference rooms and executive offices,” Pumilia said. Vendors involved in the upgrades includ- ed Task Project Management, Acquilano Design and Provident Construction. “The new headquarters pro- vides a state-of-the-art space for Accuris employees and customers to gather, collaborate and inno- vate,” Pumilia said. “Its location, features and amenities are perfect for the needs of an established and growing tech company. With our headquarters now in the Denver Tech Center, we have access to a considerable talent pool that will be essential to Accuris’ future.” Amenities at Stanford Place II, built in 1982, include a new fit- ness center, a cafeteria and open areas for socializing. Pumilia also highlighted the wealth of nearby hotels and restaurants, noting out- of-town employees and partners often stay at hotels within walking distance. Accuris is currently scaling its operations to meet surging demand for artificial intelligence solutions that optimize engineer- ing and supply chain workflows. The company’s global employee head count has increased by 10% since June 2023, now totaling more than 1,000 employees in 20 countries. Its Colorado head count has increased by 12% in the past year to 120 employees, and many members of the company’s execu- tive team live in the Denver metro area. The new office has capacity for continued growth, as Accuris plans to add 20-30 roles in the Denver office in the next 12-18 months, Pumilia said. Accuris provides digital solu- tions for workflow, data and ana- lytics, and digital libraries, serving numerous industries, including aerospace defense, automotive transportation, building design and construction, electronics, ener- gy, government, manufacturing, medical devices and more, accord- ing to its website. Previously part of IHS, IHS Markit and S&P Glob- al, the company has a 60-year his- tory as a technology leader. Other News n METRO DENVER – New- mark brokered numerous office leases in the Denver metro area in July. WWF Operating Co. and its parent company, Danone North America, leased 35,057 square feet at Mountain View – Building 4, located at 12002 Airport Way in Broomfield. The tenant was rep- resented by Newmark’s Eddie Kane, Victor Frandsen, Tim Har- rington, Alan Polacsek, Manuel Breidenbach and Toby Suther- land. Landlord BPRE Interlocken Holdings did not have a represen- tative in the transaction. Cable Audit Associates leased 10,222 sf at Financial Plaza – Build- ing A, located at 7730 E. Belleview Ave. in Greenwood Village. New- mark’s Keith Bell and Peter Staab represented the tenant. Landlord Financial Plaza LLC was repre- sented by Matt Bell of Colliers International. NGL Supply Terminals Co. leased 3,922 sf at Colorado Center Tower II, located at 2000 S. Colo- rado Blvd. in Denver. Newmark’s Jonathan Tilton represented the tenant, while landlord Lincoln ASB Colorado Center LLC was represented by Peter Thomas of Lincoln Property Co. n AURORA – An addiction recovery center has leased 5,920 sf of office space northeast of the intersection of South Sable Boule- vard and East Second Avenue. Paradigm Recovery LLC leased the space at 14707 E. Second Ave. from landlord Canetti Properties LLC. Built in 1982 and renovated in 2007, the building feature an atrium with greenery and a water feature, a courtyard, 24-hour access and on-site security, accord- ing to a LoopNet listing. Danny Pomirchy with PMG Realty represented the tenant in the lease. Eric Shaw of Pinnacle Real Estate Advisors LLC repre- sented the landlord. n METRO DENVER – Trevey Commercial Real Estate facili- tated multiple office deals in the southeast Denver metro area. Trevey’s David Marulli rep- resented landlord Blair Fam- ily Properties in two leases at the SunMarke Building, located at 12900 Stroh Ranch Place in Parker. The town of Parker began its lease for 4,623 sf in the building in August. The office provides the town, which was unrepresented in the transaction, with much- needed short-term rental space. Garrett & Associates CPA signed a long-term lease for 713 sf, begin- ning in August. Trevey’s Tommy Daher represented the tenant. The tenant will provide professional tax services from the location. Marvel Clinical Research LLC acquired a 1,584-sf medical office condo from Shay LLC for $555,000 in August. The condo is located at 469 S. Cherry St., Suite 101, in Glendale. Trevey’s Nick Beach represented the buyer, while Solomon Stark of NAI Shames Makovsky represented the seller. n METRO DENVER – Con- struction activity continued to slow nationwide in the first half of 2024, according to Commercial- Cafe’s Mid-Year Office Pipeline Report. Accuris opens new headquarters in Denver Tech Center Please see Metro, Page 43