CP Group Leases 150,000 SF at Granite Tower
One year since CP Group acquired Granite Tower in downtown Denver, the firm has executed nearly 153,000 square feet of leasing activity at the 600,000-square-foot, 31-floor office tower. The recent activity includes the completion of 45,000 square feet in new leases in the last year.
Leasing activity since CPG began its ownership includes:
- PDC Energy, Inc., an independent oil and gas company, subleased 108,459 square feet across floors 13 to 17 from Occidental Petroleum and later expanded onto floor 19 to accommodate its acquisition of Great Western Petroleum.
- Bounteous, Inc., a digital media and solutions company, signed a lease for 7,906 square feet, expanding its office footprint by over 4,500 square feet from its previous space in Denver’s Lower Downtown submarket.
- Riverside Investment & Development Company, a Chicago-based real estate development and investment firm, signed a lease for 1,664 square feet.
- The Intersect Group, LLC, a staffing services company specializing in technology, finance, and accounting, signed a lease for 7,799 square feet.
- The Judge Group, an international leader in business technology consulting, talent solutions, and learning and development, expanded its footprint at the building and signed a lease for 2,371 square feet.
- Alexander Benefits Consulting, an employee benefits consulting firm, renewed its lease for 3,484 square feet.
Jamie Roupp, Andy Ross, and Maddy Stevenson with JLL represented CP Group in all transactions as the landlord’s broker.
“The leasing velocity at Granite Tower is a testament to the extensive amenity package the office building offers, as well as its location at the gateway to Denver’s Lower Downtown submarket,” Roupp said. “Additionally, the building is surrounded by over $4 billion of new development that has delivered, is under construction, or planned in the immediate area.”
Granite Tower is located at 1099 18th St. within the heart of Denver’s central business district. The property recently underwent an $11 million renovation completed in 2020, enhancing the building’s amenity package to include a fully remodeled lobby, tenant lounge, on-site fitness center, café, and outdoor space. CP Group intends to build off of these enhancements and introduce additional amenities.
CP Group’s entry into the Denver market last year followed its re-entry into the Houston market last summer with the acquisition of Five Post Oak Park, illustrating their continued investment in the Sunbelt and optimism around the office sector.
Since 2021, the firm has acquired nearly 8 million square feet of office space, including trophy assets like CNN Center and Bank of America Plaza in downtown Atlanta, Las Olas Square in Fort Lauderdale, Fla., and Miami Tower in downtown Miami.