Sprint Signs 60,000-SF Downtown Lease

DENVER-Sprint, the telecommunications giant, has signed a 60,000-sf lease Downtown. The renewal at Plaza Tower in Denver Place, is the largest so far this year–but not for long.

In fact, a larger one is expected to be signed in Denver Place later this year.

Sprint has been an anchor tenant in Denver Place for the past 15 years, notes Bob Flynn, general manager and executive vice president of Amerimar Realty, owner of the building at 1099 18th St. ”This is its third renewal and fourth lease with us,” Flynn tells GlobeSt.com.

The company had been taking 100,000 sf, so the move resulted in 40,000 sf of negative absorption. However, an 80,000 sf lease in the works would backfill the 40,000 sf and add another 40,000 sf.

Sprint already has ”right-sized” and most, if not all, of its layoffs appear to be over, Flynn tells GlobeSt.com.

Although Sprint typically is a suburban tenant, it likes being in Downtown Denver because of the lifestyle, he says.

”I think they would lose a lot of employees if they left downtown,” Flynn tells GlobeSt.com. Also, unlike many of the high-rises downtown, there’s ample parking at and around Denver Place, he notes.

Ryan Cunningham and Eric Nesbitt of Jones Lang LaSalle represented Sprint.

”I can confirm that Sprint renewed its lease and took 60,000 sf,” Cunningham says.