BH3 Management Heads West With Opening of Denver Office
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Hudson Cramer and Unique Properties brokered the lease signing.
South Florida and New York-based real estate investment and development firm BH3 Management has expanded its operations to Denver. The company signed a three-year office lease at 162 N. Adams St., with Hudson Cramer and Unique Properties brokering the 1,012-square-foot lease signing.
Chief Operating Officer Michelle Guber will lead BH3’s Denver team. The office space is located in the city’s Cherry Creek North mixed-use neighborhood, offering access to the area’s array of locally owned stores and fashion boutiques, restaurants, art galleries and fitness centers.
In a prepared statement, BH3 Management Co-CEO Daniel Lebensohn mentioned that the company chose Denver due to the city’s fast-growing economy, strong talent base and potential real estate prospects.
According to research from the U.S. Census Bureau, about 70 percent of the millennials who lived in Denver at age 16 decided to stay or return to the metro. The city’s population boom and overall retention of natives and young workers was another aspect that BH3 Management took into consideration when expanding its business operations in Denver.
Year-to-date through October, the metro’s office vacancy stood at a 18.5 percent, second only to San Francisco (19.5 percent) across all western markets, a recent CommercialEdge report reveals. The city’s total office sales volume reached $3.03 billion during that timeframe, at an average price of $314 per square foot.