{"id":1004658752,"date":"2023-04-25T06:51:10","date_gmt":"2023-04-25T14:51:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004658752"},"modified":"2023-04-25T06:51:11","modified_gmt":"2023-04-25T14:51:11","slug":"morgan-stanley-inks-hq-lease-in-denver","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-inks-hq-lease-in-denver\/","title":{"rendered":"Morgan Stanley Inks HQ Lease in Denver"},"content":{"rendered":"<div id=\"attachment_1004658758\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004658758\" data-attachment-id=\"1004658758\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-inks-hq-lease-in-denver\/1601-wewatta-st-s-7th-floor\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg\" data-orig-size=\"838,628\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1682347429&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1601 Wewatta St.&#8217;s 7th floor\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1601 Wewatta St.&#8217;s 7th floor. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg?w=838\" class=\"size-medium wp-image-1004658758\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg?w=300\" alt=\"1601 Wewatta St.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg 838w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004658758\" class=\"wp-caption-text\">1601 Wewatta St.&#8217;s 7th floor. <em>Image courtesy of Newmark<\/em><\/p><\/div>\n<p>Solar energy company <strong>Pivot Energy <\/strong>has signed a 22,628-square-foot headquarters lease at <strong>Morgan Stanley<\/strong>\u2019s 1601 Wewatta St. in Denver\u2019s Lower Downtown neighborhood. <strong>Newmark <\/strong>brokered the lease agreement on behalf of the tenant, while <strong>CBRE<\/strong> represented the landlord.<\/p>\n<p>Pivot Energy will relocate from its current premises at 1750 15th St. and is scheduled to take up three quarters of the seventh floor at the 299,127-square-foot office building. Autodesk, Deloitte and NAVA Real Estate Development are part of the property&#8217;s roster, CommercialEdge reveals.<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/a-closer-look-at-tech-layoffs-impact-on-office-leasing\/\">Tech Layoffs\u2019 Impact on Office Leasing<\/a><\/p>\n<hr \/>\n<p>The tenant&#8217;s new location will include a 4,000-square-foot touchdown space for hybrid and traveling employees, doubled by a private patio with outdoor seating and grills. The expansion is part of the company\u2019s commitment to offering <a href=\"https:\/\/www.commercialsearch.com\/news\/flexible-workplace-critical-to-retaining-talent-jll\/\">flexible work arrangements<\/a> to its workforce.<\/p>\n<p>The Class A, <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-states-for-leed-certified-office-properties-in-2022\/\">LEED-certified<\/a> building came online in 2015 and features ground-level retail and restaurants, along with underground parking. The property is adjacent to the Union Station transportation hub, also offering connectivity to Interstate 25, RTD light rail and the nearby residential areas.<\/p>\n<p>Senior Managing Director Andrew Blaustein and Associate Director Josh Pons led the Newmark team that brokered the deal on behalf of the tenant, while CBRE&#8217;s Senior Vice President Chris Phenicie and First Vice President Allison represented the landlord.<\/p>\n<h2>Slow market activity persists in Denver amid economic uncertainty<\/h2>\n<p>According to the latest <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge report<\/a>, Denver had the highest vacancy rate among major Western markets. The rise in direct vacancy is a result of several factors, including a <a href=\"https:\/\/www.commercialsearch.com\/news\/cre-reacts-to-the-feds-latest-interest-rate-hike\/\" target=\"_blank\" rel=\"noopener\">fluctuating economy<\/a> in the Denver metropolitan area, prolonged decision-making processes among tenants, as well as ongoing employee preference for remote work, a recent CBRE market report reveals.<\/p>\n<p>Despite the fact that the vacancy rate for Class B properties is still the highest, at 22.0 percent, Class A properties saw the largest increase in vacancy during the first quarter of the year, according to the same source. The rate increased by 60 basis points from the previous quarter and by 150 basis points from the previous year, reaching 20.2 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A solar energy company is the newest tenant at the LEED-certified property. <\/p>\n","protected":false},"author":3030,"featured_media":1004658758,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1587,21742,21747,15],"tags":[32789,32774,50999],"class_list":["post-1004658752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-denver","category-latest","category-office","category-west","tag-cbre","tag-morgan-stanley","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Morgan Stanley Inks HQ Lease in Denver - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Solar energy company Pivot Energy has signed a 22,628-square-foot headquarters lease at Morgan Stanley\u2019s 1601 Wewatta St.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-inks-hq-lease-in-denver\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morgan Stanley Inks HQ Lease in Denver\" \/>\n<meta property=\"og:description\" content=\"Solar energy company Pivot Energy has signed a 22,628-square-foot headquarters lease at Morgan Stanley\u2019s 1601 Wewatta St.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-inks-hq-lease-in-denver\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-25T14:51:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-25T14:51:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1601-Wewatta-St.s-7th-floor.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"838\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/\"},\"author\":{\"name\":\"Raluca Toma\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e908d9381f3929d1d57f95e4db8c529\"},\"headline\":\"Morgan Stanley Inks HQ Lease in Denver\",\"datePublished\":\"2023-04-25T14:51:10+00:00\",\"dateModified\":\"2023-04-25T14:51:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/\"},\"wordCount\":359,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/1601-Wewatta-St.s-7th-floor.jpg\",\"keywords\":[\"CBRE\",\"Morgan Stanley\",\"Newmark\"],\"articleSection\":[\"Brokerage\",\"Denver\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/morgan-stanley-inks-hq-lease-in-denver\\\/\",\"name\":\"Morgan Stanley Inks HQ Lease in Denver - 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