Anadarko Signs 300,000 SF Denver Lease in Mile High City
Jim Bailey of Cushman & Wakefield’s Houston office represented Anadarko Petroleum in a major lease in Denver.
DENVER – Anadarko Petroleum Corp., headquartered in Houston, completed Denver’s largest office lease of 2018 by committing to 300,000 square feet in Granite Tower, a 31-story downtown office building.
Jim Bailey, vice chairman of Cushman & Wakefield in Houston, acted as the tenant representative for Anadarko. Bailey noted that KBS, the building’s owner, has planned renovations that played a key role in Anadarko’s decision to remain in Granite Tower.
“KBS’s commitment to significant upgrades and to introducing market-responsive amenities to the building were important factors in Anadarko’s decision to stay in Granite Tower,” Bailey said.
Granite Tower is a 31-story Class A office building with 591,070 square feet. The LEED Gold–certified property sits near Coors Field, home of the Colorado Rockies, and Union Station, a transit hub surrounded by redeveloped historic buildings, restaurants and retail.
“The vibrant neighborhood supports a balanced professional and personal lifestyle,” said Clint Copulos, senior vice president for KBS and asset manager for Granite Tower. “Tenants can enjoy modern office amenities while remaining within walking distance of dining, shopping and entertainment.”
Granite Tower in Denver.
KBS has outlined substantial renovations for Granite Tower, with construction initially slated to begin in May 2019. Planned improvements include a transparent architectural pavilion that will expand the main lobby and ground-floor common areas, creating space for a new food-and-beverage operation that extends to an upgraded outdoor gathering area. A new bike storage facility with capacity for 100 bicycles will be located adjacent to the expanded lobby and provide direct access to elevators. The centerpiece of the renovation will convert the entire third floor into a comprehensive amenity level featuring an open lounge and outdoor deck with downtown views. The upgraded amenities will also include a conference center and a new fitness facility offering group classes, Peloton bikes and locker rooms.
KBS, based in Newport Beach, California, reported that 384,716 square feet of space in Granite Tower was leased during the fourth quarter of 2018. That total includes a 12-year extension for 295,743 square feet by Anadarko. Other recent tenants include Inflection Energy LLC, MountainView Financial and the law firm Causey Demgen & Moore P.C. Granite Tower is one of nine remaining properties in the KBS REIT II portfolio.
Transaction representation included a range of brokerage teams: in addition to Bailey representing Anadarko, Robert Whittelsey and Chris Wiley of Colliers International represented Causey Demgen & Moore P.C.; Mike Rooks and Tim Bourdelais of JLL represented Bankers’ Bank of the West; Lindsay Brown and Tom Lepry of JLL represented Inflection Energy; and Brian Hutt of Cushman & Wakefield represented MountainView Financial. Andy Ross and Jamie Roupp of JLL, along with Nathan Johnson and Pete Staab of Newmark Knight Frank, represented KBS in the various transactions.
