Speculative Office Building Breaks Ground in RiNo
The Current, River North, a new 12-story, 238,000-square-foot, Class-A office building in Denver’s River North Arts District (RiNo), has officially broken ground. The speculative office development, scheduled to open to tenants in Q1 2023, is the result of a partnership between Schnitzer West, LLC (Schnitzer West) and Craft Companies, LLC, a Denver-based, multi-directional real estate firm.
“We are thrilled to begin construction on The Current and add to Denver’s highly-desirable CBD micro-market of RiNo,” said Doug Zabel, managing partner at Schnitzer West. “The Current embraces innovative design features that align with the modern workforces’ requirements for flexibility, focus and collaboration, not seen in any office product found in RiNo or the Denver market generally. The combination of these elements will provide tenants and their guests with access to professional and personal amenities that enhance productivity and optimize time in the office.”
Located at 3615 Delgany Street, the new office tower will be three blocks away from the RTD A-Line station.
Schnitzer West purchased the 34,250-square-foot site in April 2019 with plans to develop an office building for business and retail purposes. The Current’s design includes eight floors of office space with extensive use of architectural glass, two levels of underground parking and four levels of above-grade podium parking – both equipped with car charging stations and secure bike storage.
Davis Partnership Architects designed The Current with timeless character that will be a great addition to the RiNo neighborhood. On the top floors of the building, tenants can access one of Denver’s largest rooftop terraces to enjoy panoramic views of the Rocky Mountain Front Range and Denver city skyline. The two-story multi-rooftop space will feature a unique spin on Schnitzer West’s signature “Great Room” with a 10,000-square-foot indoor-outdoor conferencing space for meetings and leisure. The Great Room and connected rooftop terraces will have multiple living walls, fire and water features, as well as a “green space” for tenant wellness activities, which includes building-hosted and organized exercise classes. The Current will also offer a fitness center for tenant use.
“Designing a space to foster productivity, wellness and overall business success were driving factors in the creation of The Current,” said Lucas Schornstein, senior investment manager at Schnitzer West. “While office construction in Denver slowed during the global pandemic, the workforce’s desire for flexibility and collaboration remain. The Current was designed with modern workers and businesses in mind, providing employers with flexibility to effectively scale their businesses in a vibrant environment. As the local and national economies continue to face impacts from the global pandemic, we are proud to provide Denver’s workforce with a space where they can perform and thrive.”
The building’s design includes state-of-the-art mechanical systems and touchless technologies throughout the space to help ensure the health and safety of tenants and visitors. The Current will also feature smart windows by Silicon Valley-based View, Inc., which utilizes artificial intelligence to optimize natural light, temperature and glare. These features reduce energy consumption and eliminate the need for high-touch blinds and other common touchpoints within the tenant spaces. Integration of handsfree technologies will help mitigate the spread of germs, while also preserving views and natural light for building occupants.
“The Denver market continues to be an attractive location for office developers and businesses, said Tim Harrington, vice chairman at Newmark. “Groundbreaking of this next-generation, tenant experience-focused office asset helps further position Denver’s business community for growth. Already, we have received interest from legal and financial services tenants in a submarket that has primarily been a destination for tech users. The project quality and unique amenities demonstrate thoughtful design that reflects what tenants want both now and in the future.”
Newmark Vice Chairman Tim Harrington, Executive Managing Director Jamie Gard and Director Jennifer Chavez are the exclusive leasing agents on behalf of Schnitzer West. The Current is part of Schnitzer West’s regional development pipeline of more than 1.5 million square feet of office space in Denver.