Rockies co-owner Dick Monfort, left, and Max Haynes, a staffer for U.S. Sen. Michael Bennet, look on as Redaptiv CEO Arvin Vohra cuts a ribbon to mark the opening of Redaptive’s office in McGregor Square. (Courtesy Redaptive)
A Denver tech and energy firm has more than doubled its footprint in a move out of WeWork.
Redaptive was founded in 2015, moved to Denver in 2019 and formalized the city as its headquarters last year. It cemented that decision on Wednesday, when it opened a new 25,000-square-foot office — the entire eighth floor — in McGregor Square.
The business, which helps large commercial and industrial firms cut energy costs, had grown from 17 employees to 100 in Denver over the past year or so, prompting it to seek a new space.
Jim Benson, head of marketing and communications for the firm, said Redaptive had previously been in under 10,000 square feet in the WeWork at 1615 Platte St.
“We were climbing all over people (in our old space),” he said.
Redaptive is subleasing the space from Red Canary, a cybersecurity firm. Benson said the company has 46 months left on that lease, with an option to renew.
The office building at McGregor Square, seen here from 19th Street. (BusinessDen file)
“We came to this McGregor office and we think we can use it to help us recruit,” Benson said. “It’s a great place. I’m looking out the window and I can see the mountains. If I go to the other side, I see Coors Field.”
The new office is being subleased from Red Canary, a cybersecurity firm. Benson said they have 46 months left on that lease, with an option to renew when it’s up.
CBRE brokers and staff Ryan Link, Harrison Archer, Rob Link, Kiana Akina and Amelia St. John represented Redaptive. The entire process went “wildly quick,” Link said, taking just six months.
“Timing became paramount … what we needed was space ready to go,” Link said.
The broker said Redaptive’s WeWork lease was expiring and that the firm avoided the “mid CBD,” instead touring neighborhoods such as Union Station, LoDo, Platte Street and RiNo.
“They had a building on Platte Street,” Link said. “They circled that and said ‘closer to here, the better.’”
McGregor Square — which includes a hotel, condo building and office building, with retail space throughout the project — was developed by a group including Rockies owner Dick Monfort. It was completed in early 2021 and the office space was fully leased by the spring of the next year.
McGregor Square CEO Patrick Walsh told BusinessDen that Red Canary continues to occupy some space on the ninth floor. The firm leased about 43,000 square feet.
The building does have some availability — 13,000 square feet on the sixth floor is available for sublease. Walsh said he’s “very close” to having a tenant sign for it.
“People are starting to come back to the office, which is great for our retail,” he said.
Redaptive has “five different ways we do revenue,” Benson said, including lending money and metering to businesses looking to improve their energy infrastructure and selling its software to firms seeking better tracking of their utility usage. Major clients include GAP, Goodyear and T-Mobile.
Rockies co-owner Dick Monfort, left, and Max Haynes, a staffer for U.S. Sen. Michael Bennet, look on as Redaptiv CEO Arvin Vohra cuts a ribbon to mark the opening of Redaptive’s office in McGregor Square. (Courtesy Redaptive)
A Denver tech and energy firm has more than doubled its footprint in a move out of WeWork.
Redaptive was founded in 2015, moved to Denver in 2019 and formalized the city as its headquarters last year. It cemented that decision on Wednesday, when it opened a new 25,000-square-foot office — the entire eighth floor — in McGregor Square.
The business, which helps large commercial and industrial firms cut energy costs, had grown from 17 employees to 100 in Denver over the past year or so, prompting it to seek a new space.
Jim Benson, head of marketing and communications for the firm, said Redaptive had previously been in under 10,000 square feet in the WeWork at 1615 Platte St.
“We were climbing all over people (in our old space),” he said.
Redaptive is subleasing the space from Red Canary, a cybersecurity firm. Benson said the company has 46 months left on that lease, with an option to renew.
The office building at McGregor Square, seen here from 19th Street. (BusinessDen file)
“We came to this McGregor office and we think we can use it to help us recruit,” Benson said. “It’s a great place. I’m looking out the window and I can see the mountains. If I go to the other side, I see Coors Field.”
The new office is being subleased from Red Canary, a cybersecurity firm. Benson said they have 46 months left on that lease, with an option to renew when it’s up.
CBRE brokers and staff Ryan Link, Harrison Archer, Rob Link, Kiana Akina and Amelia St. John represented Redaptive. The entire process went “wildly quick,” Link said, taking just six months.
“Timing became paramount … what we needed was space ready to go,” Link said.
The broker said Redaptive’s WeWork lease was expiring and that the firm avoided the “mid CBD,” instead touring neighborhoods such as Union Station, LoDo, Platte Street and RiNo.
“They had a building on Platte Street,” Link said. “They circled that and said ‘closer to here, the better.’”
McGregor Square — which includes a hotel, condo building and office building, with retail space throughout the project — was developed by a group including Rockies owner Dick Monfort. It was completed in early 2021 and the office space was fully leased by the spring of the next year.
McGregor Square CEO Patrick Walsh told BusinessDen that Red Canary continues to occupy some space on the ninth floor. The firm leased about 43,000 square feet.
The building does have some availability — 13,000 square feet on the sixth floor is available for sublease. Walsh said he’s “very close” to having a tenant sign for it.
“People are starting to come back to the office, which is great for our retail,” he said.
Redaptive has “five different ways we do revenue,” Benson said, including lending money and metering to businesses looking to improve their energy infrastructure and selling its software to firms seeking better tracking of their utility usage. Major clients include GAP, Goodyear and T-Mobile.
