Lowry's PowerHouse Plaza Booming

The 23-acre PowerHouse Plaza is located in the center of Lowry, south of Sixth Avenue, east of Quebec Street and north of Lowry Boulevard. Three of buildings break ground this fall and three more are scheduled for next year. The master-planned district is 74% sold, with 241,500 sf of a planned 322,500 sf of office space under contract, under construction or completed and occupied. Only four parcels out of 16 are currently available.

"Our prospects are attracted to Lowry's central location, new facilities and easy access for customers," says Tom Markham, executive director, Lowry Redevelopment Authority. "These are small businesses that are investing in the future and taking advantage of low interest rates and a competitive construction environment."

Lowry is particularly appealing to medical office users, due to a location within five miles of 11 major medical centers, according to Markham. This provides synergy for firms that provide ancillary services such as diagnostics, education or outpatient treatment, he says.

For example, Denver Endoscopy Center, a new 7,500-sf facility now under construction, will specialize in diagnosis and treatment of the gastrointestinal tract for patients referred from throughout the metro area. Also, locally based Sevo Miller Inc. will break ground on a 34,000-sf medical office building in PowerHouse Plaza in early 2004. This is the second medical office building built by Sevo Miller. The first 32,000-sf building is occupied by Denver Arthritis clinic as well as Sevo's headquarters.

"Medical space can be costly, and many tenants have occupied outdated buildings for years," says John Sevo, president of Sevo Miller. "Here they can have an ownership interest in their property, enjoy modern space and stay within proximity of their patients."

Other relocations to PowerHouse Plaza include The Iris Group, a local real estate company whose custom home division, The Iris Building Group, has participated in Lowry's custom neighborhoods since 1999. The company will have completed and sold a total of 21 houses at Lowry by 2005. Iris plans to break ground on a 12,000-sf office building in late 2003, and will lease space to professional service firms, including several mental health practitioners.

A State Farm insurance agency plans a 3,000-sf building to house the agency and other small businesses. Plans call for two future additions to the building, for a total of 9,000 sf. The building architecture will be inspired by nearby aircraft hangars, with a curved metal roof, domed entryway and use of traditional red brick.

"Insurance is a community business," says Tony Richards, owner. "The best way to grow is to be in an area that's growing." Perlmutter and Sons will build a 38,000-sf office building next fall for professional services firms. The three story class A building will feature covered parking and light-filled offices.

Primrose Schools will build a 10,000-sf facility next year to provide early childhood education for families living at and near Lowry. Primrose will provide childcare services for infants and toddlers, preschool programs, kindergarten and pre- and post-school programs for elementary age children. Site planning is underway and the facility will break ground next year.