Gen II Fund Services is among the tenants in the 6900 Layton office building. (BusinessDen file)
A financial services firm that leased two floors in the Denver Tech Center last year is looking to sublet one of them.
New York-based Gen II Fund Services, which bills itself as the largest independent U.S.-based private equity fund administrator, is looking for someone to take the top of the office building at 6900 Layton Ave. for three years or so.
“We’re looking for a short-term tenant,” Chief Administrative Officer Matt Luongo told BusinessDen.
Gen II CEO Steven Millner cuts a ribbon to open the firm’s Denver office at 6900 Layton. (Courtesy Gen II)
Gen II announced in June 2022 that it had leased the top two floors of the 15-story 6900 Layton building — each about 36,000 square feet.
The company has moved into the 14th floor, and the 15th floor is fully built out. But Luongo said the company doesn’t need it right now because, after signing its lease, Gen II implemented new hybrid work policies.
Luongo called it the 3-2-1 model. Employees can work remotely three days a week, and only have to come into the office two days. One month of the year, they’re able to work fully remote from anywhere.
“We recognize that our employees are just as productive working remotely,” he said.
Luongo said the setup means that the company’s office space can accommodate twice as many people — about 300 per floor at 6900 Layton instead of 150 — because staffers come in on different days and can share workspaces.
Gen II still plans to hire aggressively, Luongo said, so the company expects to eventually take back the top floor.
“We feel in two, three years we’ll have maximized the 14th floor and we’ll move into the 15th floor,” he said.
Other tenants at 6900 Layton, which is located within Belleview Station, include gold mining giant Newmont, oil and gas firm DCP Midstream, SSR Mining, health care transportation firm LogistiCare Solutions and Encore Bank.
As of the end of June, 6.4 million square feet of office space in the Denver area was listed for sublease, according to CBRE research. That was down 3.2 percent from the previous quarter — the first quarter-over-quarter decline since early 2021 — but up 34 percent from the same period in 2022.
“Lease expirations on available subleases were the main driver of decreasing availability, which can be deceptive as spaces continue to sit vacant instead of being leased to a subtenant or reoccupied by the sublessor,” CBRE said in a report. “Examples include Autodesk’s 16,800-sq.-ft. space at 1550 Wewatta expiring after sitting on the market for over a year, and Stoneriver, which had its space listed at 4601 DTC Blvd since Q4 2022 only for the 16,800-sq.-ft. sublease to terminate before getting leased.”
Gen II Fund Services is among the tenants in the 6900 Layton office building. (BusinessDen file)
A financial services firm that leased two floors in the Denver Tech Center last year is looking to sublet one of them.
New York-based Gen II Fund Services, which bills itself as the largest independent U.S.-based private equity fund administrator, is looking for someone to take the top of the office building at 6900 Layton Ave. for three years or so.
“We’re looking for a short-term tenant,” Chief Administrative Officer Matt Luongo told BusinessDen.
Gen II CEO Steven Millner cuts a ribbon to open the firm’s Denver office at 6900 Layton. (Courtesy Gen II)
Gen II announced in June 2022 that it had leased the top two floors of the 15-story 6900 Layton building — each about 36,000 square feet.
The company has moved into the 14th floor, and the 15th floor is fully built out. But Luongo said the company doesn’t need it right now because, after signing its lease, Gen II implemented new hybrid work policies.
Luongo called it the 3-2-1 model. Employees can work remotely three days a week, and only have to come into the office two days. One month of the year, they’re able to work fully remote from anywhere.
“We recognize that our employees are just as productive working remotely,” he said.
Luongo said the setup means that the company’s office space can accommodate twice as many people — about 300 per floor at 6900 Layton instead of 150 — because staffers come in on different days and can share workspaces.
Gen II still plans to hire aggressively, Luongo said, so the company expects to eventually take back the top floor.
“We feel in two, three years we’ll have maximized the 14th floor and we’ll move into the 15th floor,” he said.
Other tenants at 6900 Layton, which is located within Belleview Station, include gold mining giant Newmont, oil and gas firm DCP Midstream, SSR Mining, health care transportation firm LogistiCare Solutions and Encore Bank.
As of the end of June, 6.4 million square feet of office space in the Denver area was listed for sublease, according to CBRE research. That was down 3.2 percent from the previous quarter — the first quarter-over-quarter decline since early 2021 — but up 34 percent from the same period in 2022.
“Lease expirations on available subleases were the main driver of decreasing availability, which can be deceptive as spaces continue to sit vacant instead of being leased to a subtenant or reoccupied by the sublessor,” CBRE said in a report. “Examples include Autodesk’s 16,800-sq.-ft. space at 1550 Wewatta expiring after sitting on the market for over a year, and Stoneriver, which had its space listed at 4601 DTC Blvd since Q4 2022 only for the 16,800-sq.-ft. sublease to terminate before getting leased.”
