Artis REIT and Trammell Crow Company Partner on New Transit-Oriented Office Project at I-25 and Dry Creek Boulevard
DENVER, CO – Artis REIT (Artis), advised by Marwest Enterprises and development manager Trammell Crow Company (TCC), announces a new speculative, Class A office building at 169 Inverness Drive in Denver’s southeast suburban office market. This new 4-story, 120,000-square-foot sustainable and efficient project in a prime transit-oriented location situated along I-25 with convenient light rail access at the Dry Creek Station. Construction has begun with an estimated delivery in late 2017. The site is adjacent to 161 Inverness building, the regional headquarters of AT&T, which Artis purchased in 2010.
“Artis REIT is pleased to kick off the construction of 169 Inverness. We feel its ease of access, high-profile visibility, and top-quality design will draw high-quality tenants in the South Denver market. We thank Inverness and Arapahoe County for their cooperation in our development efforts and are excited to work alongside Trammell Crow in completing another property of excellence,” said Philip Martens, Executive Vice-President for Artis REIT.
169 Inverness Drive will offer tenants a unique indoor and outdoor experience as well as a state-of-the-art infrastructure. A large activated outdoor area provides a natural environment for workers, and the interior features 10-foot ceilings, an on-site fitness center with showers and locker rooms, secure bicycle storage, and on-site parking as well as covered executive parking.
“We feel that 169 Inverness checks every box a tenant is looking for, including efficient and attractive new construction, an active outdoor environment, walkable amenities and stunning panoramic views. Office tenants will also receive great exposure with a unique location along I-25 at Dry Creek and the opportunity for signage visible from the highway,” said Ann Sperling
, senior director with TCC’s Denver office
. “The nearby Shops at Vallagio, Inverness Hotel and Convention Center and multiple trails and recreational offerings are each within close proximity to the building.”
Saunders Construction is the general contractor and Fentress Architects is the project architect. The CBRE Denver team of John Marold and Joe Serieno are handling the leasing and marketing for 169 Inverness Drive.
About ARTIS REIT
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States. As of June 30, 2016, Artis' commercial property comprises approximately 27.1 million square feet of leasable area.
During the three months ended June 30, 2016, Property Net Operating Income ("Property NOI") by asset class, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 50.0% office, 24.1% retail and 25.9% industrial. Property NOI by geographical region, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 5.2% in British Columbia, 35.4% in Alberta, 6.2% in Saskatchewan, 12.7% in Manitoba, 10.7% in Ontario and 29.8% in the U.S. For more information visit: http://www.artisreit.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of June 30, 2016, TCC had $7.1 billion of projects in process and $3.0 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information visit www.TrammellCrow.com.