Tech firm bails on the ‘burbs; leases top floor of spec office project on Platte

circa building

Xero is moving from Greenwood Village to the Circa Building at 1615 Platte St. (Kate Tracy)

A speculative office project under construction on Platte Street has landed its top-floor tenant.

Xero, a cloud-based accounting software company with an office in the Denver Tech Center, signed a 10-year lease for the 30,000-square-foot top floor at 1615 Platte St.

Xero has around 130 employees at 7100 E. Belleview Ave. and said it will move next summer to the new building, which developer Unico Properties has named “Circa.”

“We knew we were going to run out of space over the next year … (Being downtown) really enables us to contribute to the local tech and accounting scene,” said Andy Burner, a vice president of operations.

“It is our expectation over the next couple of years that we’ll have doubled our workforce in Denver,” Burner said, adding that many hires will be in tech and administration.

Founded in New Zealand 10 years ago, Xero makes accounting software for small-business owners and advisors.

“We were born in the cloud,” Burner said. “We don’t have a legacy product to worry about keeping up to date.”

The publicly traded company has 1,800 employees worldwide and reported 2017 revenue of $257 million. Burner, who relocated to Denver in January, said its executives are split between San Francisco and Denver.

Unico purchased the property at 1615 Platte St., previously the Monkey Barrel bar, for $2 million last year. Xero will pay between $31 and $33 per square foot, according to site plans. Other amenities at the building include a 50-seat auditorium and an outdoor plaza.

circa building

Xero is moving from Greenwood Village to the Circa Building at 1615 Platte St. (Kate Tracy)

A speculative office project under construction on Platte Street has landed its top-floor tenant.

Xero, a cloud-based accounting software company with an office in the Denver Tech Center, signed a 10-year lease for the 30,000-square-foot top floor at 1615 Platte St.

Xero has around 130 employees at 7100 E. Belleview Ave. and said it will move next summer to the new building, which developer Unico Properties has named “Circa.”

“We knew we were going to run out of space over the next year … (Being downtown) really enables us to contribute to the local tech and accounting scene,” said Andy Burner, a vice president of operations.

“It is our expectation over the next couple of years that we’ll have doubled our workforce in Denver,” Burner said, adding that many hires will be in tech and administration.

Founded in New Zealand 10 years ago, Xero makes accounting software for small-business owners and advisors.

“We were born in the cloud,” Burner said. “We don’t have a legacy product to worry about keeping up to date.”

The publicly traded company has 1,800 employees worldwide and reported 2017 revenue of $257 million. Burner, who relocated to Denver in January, said its executives are split between San Francisco and Denver.

Unico purchased the property at 1615 Platte St., previously the Monkey Barrel bar, for $2 million last year. Xero will pay between $31 and $33 per square foot, according to site plans. Other amenities at the building include a 50-seat auditorium and an outdoor plaza.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *