National Insurance Broker Extends Long-Term Lease in DTC

Standford Place III, courtesy of CBRE.

AssuredPartners (AP), a national full-service insurance broker, is growing its Denver office, taking the full 15th floor in Stanford Place III – a Class A, 17-story office building at 4582 South Ulster Street in the heart of the Denver Tech Center.

The company is relocating its operations from the 6th floor of the building to 21,823 square feet on the 15th floor as it continues to expand its presence in the region. 

The CBRE team of Ryan LinkHarrison ArcherRob Link and Kiana Akina represented AssuredPartners in the lease. 

The Denver office houses a multitude of AP’s resources, including the West Region’s Executive HQ, AP’s national Energy practice (oil & gas, renewables), the national Aerospace practice HQ, West Region’s Condo/HOA HQ, Employee Benefits division, 401k division, Property & Casualty division and one of the largest Personal Lines practices in AP’s portfolio. The expansion will add more high-end office space to accommodate headcount growth, and the company plans to make significant capital improvements to the space to benefit employees and complement the views of the Front Range.

AssuredPartners, the 11th largest broker overall, is headquartered in Orlando, Florida, and specializes in property and casualty, employee benefits, 401k and personal lines, and risk management consulting. It has over 9,200 employees working in offices throughout North America, England, Ireland, Belgium, and Scotland. In addition to Denver, the company also has offices in Colorado Springs and Fort Collins.

“Despite the headlines and post-pandemic uncertainty many are experiencing around commercial real estate, we feel confident that our diversified business plan and holistic approach to risk management provide a solid foundation on which we continue to build. We are investing in our employees and our culture to ultimately drive better results for our clients, both of which are truly the people who make this investment and growth possible. We are grateful for our long-term relationship with the experts at CBRE, who helped navigate and negotiate a deal that fits perfectly with our immediate and future goals,” said Tom Harper, president of AssuredPartners Colorado.

The company’s new office space sits in the southeast corner of the I-225 and I-25 interchange within Denver’s Southeast submarket. In total, 1.3 million sq. ft. of office leases were transacted in metro Denver during the third quarter, an increase of 11.5% quarter over quarter and 22.4% year over year, according to CBRE research. Class A properties, like Stanford Place III, claimed 76% of all activity with 950,000 sq. ft. leased. Among submarkets, the Southeast was the second-most active with 433,000 sq. ft. leased in the quarter. 

“AssuredPartners’ new space will showcase the best of the north Tech Center. They were able to capitalize on the opportunity to stay at the building and limit any major disruption for their people. Their new office will provide some of the best views in the market and allow them to continue to grow at a rapid pace,” said Ryan Link, senior vice president, of CBRE. “While parts of the office market remain challenged, Class A buildings in good locations continue to see strong demand, and companies that understand the value of having their employees together are taking advantage of the opportunities in the market.”

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