LONE TREE, CO—Inverness Properties, LLC has completed a long term lease, on behalf of its client, Denver United LLC, with a wholly owned subsidiary of tw telecom inc. at the 161,218 square foot ParkRidge Six office building, located at 10350 Park Meadows Drive. This lease will put the bulk of tw telecom’s Colorado employees in two prominent properties within the 74-acre ParkRidge Corporate Center, which is located at the northwest corner of I-25 and Lincoln Avenue in Lone Tree. This is one of the three largest lease transactions completed in the past year. .
“tw telecom delivers the best customer experience in the industry today and a key part in doing that is providing excellent work facilities and opportunities for our employees,” said Chuck Boto, tw telecom President-Real Estate. “The ParkRidge Six office building will help us continue that effort as we move our National Operations Center, customer care call center and general support personnel to this state-of-the-art facility.” tw telecom is a leading national provider of managed services, including Business Ethernet, converged and IP solutions to enterprises locally, throughout the U.S. and to their global locations. The company employs 3,100 nationwide and about 1,200 in Colorado.
Robert Hess, a principal of Denver United LLC, said “We are very pleased that tw telecom has selected ParkRidge Six for its continued, long term Denver operations and we look forward to its staged occupancy, commencing in early 2013.”
The office building was originally built in 2001 for American Century Investments. That long term lease was subsequently assigned to a financial services company. tw telecom will stage their move-in, with 100% occupancy scheduled for November of 2015.
As part of the lease transaction, the property will be annexed into the City of Lone Tree, Colorado. Both Lone Tree and Douglas County will be providing tw telecom with certain economic development incentives, in recognition of their expanded employment base in the City and County.
Peter Coakley and Rick Egitto of Inverness Properties, LLC represented the landlord. tw telecom was represented by Mike Rooks and Robb Johnson (Washington D.C. office) of Jones Lang LaSalle. Kevin Smith and Terry Quinn of Cresa Dallas and Brendan Fisher of Cresa Denver represented the existing financial services tenant.