PRESS RELEASE: Granite Properties Acquires Regency Plaza in Denver Tech Center
Granite Expands Denver Portfolio
Denver, CO – September 12, 2019 – Granite Properties, a commercial real estate investment, development and management company, announced today it has acquired Regency Plaza, a 319,000 square-foot, Class A, LEED Gold Certified office building in the Denver Tech Center of the Southeast Suburban market. Granite will reposition the building through significant planned improvements to enhance the customer experience.
Tim Richey, Mike Winn, Jenny Knowlton, Charley Will and Chad Flynn of CBRE represented the seller, Barings, one of the world’s largest diversified real estate investment managers, on behalf of institutional investors. Stephanie Lawrence, Senior Managing Director, Paul Bennett, Senior Director of Investments and Patrick Miller, Investment Associate of Granite Properties, represented Granite. Bob Whittelsey and Abby Patillo of Colliers International will lead the leasing of Regency Plaza.
“Regency Plaza is a trophy asset with an incredible presence in the Denver Tech Center,” said Stephanie Lawrence, Senior Managing Director, Granite Properties. “We look forward to repositioning Regency Plaza through a significant improvement plan designed to meet the needs of today’s workforce,” she added.
The 15-story tower is located on 4643 South Ulster Street providing high visibility, easy access to Interstates 25 and 225 and immediate adjacency to the Hyatt Regency hotel. The project also offers 360-degree views of the mountains, downtown Denver and Cherry Creek Reservoir as well as attached covered parking, onsite food service, training room and fitness center. In addition, the building is located within close proximity to numerous shops and restaurants. The LEED Gold Certified and Energy Star Rated property is currently 93% leased.
Granite has selected DLR Group’s Jessie Johnson to head the design team for the planned renovations, which will include upgrades to the main lobby, elevator cabs, fitness center, conference room, outdoor plaza and common area corridors. The improvements are designed with the customer in mind, creating opportunities for collaboration and fostering a productive office community. In addition, Granite’s customer-centric Property Experience Team will implement building-wide programs and activities to allow customers to develop meaningful connections in the workplace, give back to the community and improve their overall wellness.
With the acquisition of Regency Plaza, Granite expands its Denver portfolio to approximately 1.3 million square feet of Class A office buildings. Granite also owns Plaza Tower One, Prentice Plaza and High Pointe Tower all located in the Southeast Suburban market and 143 Union located in Lakewood.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991, with offices in Dallas, Houston, Atlanta, Denver and Southern California. It has completed more than $7 billion in real estate transactions and more than 27.1 million square feet of real estate development and acquisitions. Granite focuses on creating extraordinary customer experiences in each building through mixed-use environments rich in amenities and customer-centric service to help people flourish. Granite, a NREI Top Office Owner, has been named as one of FORTUNE’s Best Workplaces for seven consecutive years. For more information, visit www.graniteprop.com
Barings is a $325+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
*As of June 30, 2019