Major Office Build Slated for Denver’s Broadway Station
KDC and Broadway Station Partners form a joint venture to build the 1 million square foot property.
“The impetus to build will come from identifying a user that wants to make a home at the site,” Chris Selbo, VP of development at KDC, tells GlobeSt.com. “Our interest in pursuing a partnership on the site was sparked primarily because of the site’s location in the heart of the Denver metroplex at the intersection of two major highway thoroughfares, and on the city’s second busiest light rail stop. Companies seem to attract employees to Denver with greater ease than other cities, and numerous young, talented prospective workers are moving to Denver even prior to securing employment. This employment trend points to a city’s healthy office market.”
Broadway Station is Denver’s second busiest RTD rail stop. As such, the transit-oriented development is an ideal place to attract major corporate tenants. “Our hope is to attract one or more large Fortune 1000 users to the site. KDC has been very fortunate to work with some of the world’s largest and most successful corporations including Toyota, State Farm, JPMorgan, and Liberty Mutual,” says Selbo. “Through our work with these companies, we’ve gained insight into the types of environments that companies look for in selecting their office space. Santa Fe Yards checks all those boxes, including access to mixed-use amenities, access to the light rail, and signage/branding opportunities.”
There is significant demand for quality office space in Denver. “Class-A office has experienced solid growth over the last five years,” says Selbo. “Currently, there are a limited number of large blocks of class-A space available in the city for large users, leaving a product need in the market.”
KDC is an experienced developer of build-to-suit corporate office space. Its partner, Broadway Station Partners, is experienced in prepping sites with challenging obstacles for development. “Due to the site’s history as the former Gates Rubber Factory, there was a tremendous amount of horizontal work to be done at the site,” says Selbo. “Over the last five years, BSP has had the precision and the perseverance to get the site to today’s development-ready condition. Their success in the site’s horizontal development paired with KDC’s experience as a vertical office developer was a solid match.”