DENVER, CO – North Forest Office Providers, a developer of affordable commercial office space, is adding to its Denver-area portfolio.
The company announced that it has begun construction on the third phase of its NorthRidge Commons office park development in the City of Westminster. The third building, which will offer tenants a total of 11,780 square feet of space, will be ready for occupancy in a few months. The office park is located at 12201 Pecos Street near 122nd Avenue.
The project joins two previous phases at NorthRidge Commons, both of which are have been built and leased. Tenants began moving into the two earlier phases in 2009 and the remainder of new tenants will be in by the summer.
“NorthRidge Commons is a development that both we and our signed tenants are extremely excited about, as evidenced by the tremendous response to the first two phases,” said Brett Steinbar, the company’s Denver area co-manager. “The location in Westminster makes it extremely accessible for commuters via I-25.”
North Forest Office Providers also announced that it will begin development of a new office park project in the Denver area next month.
The company recently acquired a six-acre property in Commerce City where plans call for the development of six one-story buildings featuring a total of 54,684 square feet of professional office space with lease rates starting at $17.90/square foot.
Located at the intersection of Potomac Street and 104th Avenue, the project should be ready for tenants in the fourth quarter of this year.
“The Commerce City project fits squarely in our model of providing commercial development opportunities in growth markets,” Steinbar said.
Above all, both projects meet changes that North Forest has seen in the development market since the economic slowdown began to take effect nearly two years ago.
Once the economy began to soften, many companies had to take a fresh look at their entire operations, including their office options. Larger companies have looked to downsize their space requirements as a way of managing costs, while companies looking to move or upgrade their current space have struggled with tight credit market conditions. That has left a lot of companies looking for new alternatives.
“Relocating can be painstaking for any company. For us, offering new, competitively priced office space with build-out costs included has put our properties on people’s radar screens,” Steinbar said. “We also work to address tenants’ future growth plans and longevity concerns through flexible leasing, which, in the end, helps to build peace of mind for the user.”
In addition to the NorthRidge Commons office park and its planned project in Commerce City, North Forest Office Providers’ portfolio in the Denver market also includes the Telluride Business Park in Brighton.
Established in 1987, North Forest Office Providers develops innovative and affordable office space for small business owners, entrepreneurs, branch offices and doctors and dentists usually looking to lease 5,000 square feet of space or less – although their building model can easily accommodate larger tenants. The company’s office facilities are designed to be easily modified to meet tenants’ changing demands.
As a full-service office space provider, the North Forest team helps clients analyze their space needs, develops custom leases for periods as short as one year and manages the maintenance of each of their properties. The company operates office parks in the suburban Buffalo, New York, suburban Rochester, New York and Denver, Colorado markets.
