The T3 office building at 3500 Blake St. seen from a nearby pedestrian bridge on Oct. 1, 2023. (BusinessDen file)
RiNo has landed its biggest tenant yet.
Xcel Energy has leased all 220,000 square feet of office space in the T3 RiNo building nearing completion at 3500 Blake St. in Denver, the building’s developers announced Wednesday.
The space will become Minneapolis-based Xcel’s regional headquarters, which is currently downtown at 1800 Larimer St. The company will move in 2025, bringing approximately 1,200 employees.
The office building at 1800 Larimer St. (BusinessDen file)
BusinessDen broke the news last month that Xcel was eyeing the T3 lease. The deal lends credibility to the nascent RiNo office submarket.
Houston-based Hines, Chicago-based McCaffery and Canadian investment firm Ivanhoe Cambridge are developing the six-story T3 building. The project broke ground in late 2021.
“T3 RiNo will provide several benefits important to our coworkers including more parking, proximity to the RTD light rail system, greater security and more,” Robert Kenney, president of Xcel Energy-Colorado, said in a statement. “Being in a single-tenant building allows us to design collaborative workspaces for increasingly interconnected teams,” said Robert Kenney, president of Xcel Energy-Colorado.
The building includes outdoor terraces on every floor, 5,000 square feet of “hospitality-driven amenity space” and a 5,000-square-foot fitness center, according to the developers.
The building will also have 18,500 square feet of ground-floor retail space that will be leased to other users.
The deal will leave another hole to fill downtown, where vacancy recently hit 30 percent counting sublease listings for the first time in decades. Xcel leases 291,236 square feet in the 22-story 1800 Larimer building, a company spokesman said last month. Boston-based owner Beacon Capital Partners paid $291 million for the building in early 2022.
Savills brokers Rick Schuham and Brendan Fisher represented Xcel in the RiNo lease. JLl’s James Roupp, John Beason, Don Misner and Maddy Stevenson represented the building’s developers.
The T3 office building at 3500 Blake St. seen from a nearby pedestrian bridge on Oct. 1, 2023. (BusinessDen file)
RiNo has landed its biggest tenant yet.
Xcel Energy has leased all 220,000 square feet of office space in the T3 RiNo building nearing completion at 3500 Blake St. in Denver, the building’s developers announced Wednesday.
The space will become Minneapolis-based Xcel’s regional headquarters, which is currently downtown at 1800 Larimer St. The company will move in 2025, bringing approximately 1,200 employees.
The office building at 1800 Larimer St. (BusinessDen file)
BusinessDen broke the news last month that Xcel was eyeing the T3 lease. The deal lends credibility to the nascent RiNo office submarket.
Houston-based Hines, Chicago-based McCaffery and Canadian investment firm Ivanhoe Cambridge are developing the six-story T3 building. The project broke ground in late 2021.
“T3 RiNo will provide several benefits important to our coworkers including more parking, proximity to the RTD light rail system, greater security and more,” Robert Kenney, president of Xcel Energy-Colorado, said in a statement. “Being in a single-tenant building allows us to design collaborative workspaces for increasingly interconnected teams,” said Robert Kenney, president of Xcel Energy-Colorado.
The building includes outdoor terraces on every floor, 5,000 square feet of “hospitality-driven amenity space” and a 5,000-square-foot fitness center, according to the developers.
The building will also have 18,500 square feet of ground-floor retail space that will be leased to other users.
The deal will leave another hole to fill downtown, where vacancy recently hit 30 percent counting sublease listings for the first time in decades. Xcel leases 291,236 square feet in the 22-story 1800 Larimer building, a company spokesman said last month. Boston-based owner Beacon Capital Partners paid $291 million for the building in early 2022.
Savills brokers Rick Schuham and Brendan Fisher represented Xcel in the RiNo lease. JLl’s James Roupp, John Beason, Don Misner and Maddy Stevenson represented the building’s developers.
