Before joining Insignia in December, Hart and Phenicie had been with their own company. Prior to that, they were with Cushman & Wakefield. Last December, Hart and Phenicie recruited Schabacker to Insignia from the Frederick Ross Co. Hart and Phenicie began marketing the US 36 corridor between Denver and Boulder 10 years ago and completed 2.5 million sf along the corridor during the past decade.
"When we started there, we were selling and marketing the corridor as the site for the future new hotel, the future new golf course, the future new intersection," Hart tells GlobeSt.com.
All of those came to fruition, in addition to about 6 million sf of office space. Unfortunately, the northwest corridor market collapsed even faster than it grew, and today has the highest vacancy rate of any submarket in the metro area.
But Ann Sperling, who heads the Rocky Mountain region for Crow, notes that her company stands by the corridor during good and bad times. Crow is marketing or managing about a million sf along the corridor.
In addition to continuing their focus on the northwest corridor, Phenicie and Hart will beef up Crow's presence downtown. They will have an office at 1670 Broadway, where Crow already has a property management office.
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