VF Corp. leases the entire building at 1551 Wewatta St. in downtown Denver. (Matt Geiger/BusinessDen)
Four years after moving its headquarters to Denver, VF Corp. wants to shrink it.
The apparel firm behind well-known brands such as The North Face and Timberland leases the entire 10-story, 285,000-square-foot office tower at 1551 Wewatta St. It moved there in 2020, when the company shifted its headquarters from North Carolina.
But VF has listed its top two floors for sublease, according to a marketing brochure obtained by BusinessDen. Each floor is about 30,000 square feet.
“VF is not downsizing — we are just trying to optimize our space in the building based on the patterns of office attendance during the week,” VF spokesman Colin Wheeler said. “This has freed up space on our top two floors which we are now marketing.”
Wheeler said 75% to 80% of the building’s 950 employees come in at least three days a week.
“Employees are encouraged to be in the office three days per week of their choosing,” he said.
New York-based RFR Holding owns the building. It bought the property in 2021 for $226 million, according to public records — at the time a Denver record for price per square foot. VF has another nine years remaining on its lease, Wheeler said.
The building has a number of amenities, such as an indoor rock-climbing wall, large gym and a fourth-floor outdoor roof deck with plants and landscaping.
VF Corp. moved into the building in 2020. (Matt Geiger/BusinessDen)
VF Corp began the process of moving its headquarters to Denver in 2018. In 2020, in addition to moving into 1551 Wewatta, the company also leased the entire 70,000 square foot building at 3060 Brighton Blvd. in RiNo.
Since the move, though, the company has struggled. Its stock price currently stands around $13 a share, down over 30 percent this year and over 85 percent in the past five years. When the firm moved to Denver, its per-share price hovered between $60 and $70.
VF Corp. leases the entire building at 1551 Wewatta St. in downtown Denver. (Matt Geiger/BusinessDen)
Four years after moving its headquarters to Denver, VF Corp. wants to shrink it.
The apparel firm behind well-known brands such as The North Face and Timberland leases the entire 10-story, 285,000-square-foot office tower at 1551 Wewatta St. It moved there in 2020, when the company shifted its headquarters from North Carolina.
But VF has listed its top two floors for sublease, according to a marketing brochure obtained by BusinessDen. Each floor is about 30,000 square feet.
“VF is not downsizing — we are just trying to optimize our space in the building based on the patterns of office attendance during the week,” VF spokesman Colin Wheeler said. “This has freed up space on our top two floors which we are now marketing.”
Wheeler said 75% to 80% of the building’s 950 employees come in at least three days a week.
“Employees are encouraged to be in the office three days per week of their choosing,” he said.
New York-based RFR Holding owns the building. It bought the property in 2021 for $226 million, according to public records — at the time a Denver record for price per square foot. VF has another nine years remaining on its lease, Wheeler said.
The building has a number of amenities, such as an indoor rock-climbing wall, large gym and a fourth-floor outdoor roof deck with plants and landscaping.
VF Corp. moved into the building in 2020. (Matt Geiger/BusinessDen)
VF Corp began the process of moving its headquarters to Denver in 2018. In 2020, in addition to moving into 1551 Wewatta, the company also leased the entire 70,000 square foot building at 3060 Brighton Blvd. in RiNo.
Since the move, though, the company has struggled. Its stock price currently stands around $13 a share, down over 30 percent this year and over 85 percent in the past five years. When the firm moved to Denver, its per-share price hovered between $60 and $70.
