{"id":1004669916,"date":"2023-06-28T03:00:42","date_gmt":"2023-06-28T11:00:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004669916"},"modified":"2023-06-28T04:02:44","modified_gmt":"2023-06-28T12:02:44","slug":"franklin-street-inks-121-ksf-denver-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/","title":{"rendered":"Franklin Street Inks 121 KSF Denver Lease Renewal"},"content":{"rendered":"
\"Greenwood<\/a>

Greenwood Plaza. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

Kaiser Permanente <\/strong>has extended its lease at Franklin Street Properties<\/strong>\u2019 Greenwood Plaza, a 197,528-square-foot office campus in Eaglewood, Colo. Cushman & Wakefield<\/strong> brokered the 120,979-square-foot agreement on behalf of the landlord, while JLL<\/strong> represented the tenant.<\/p>\n

Situated on more than 8 acres at 6550 and 6560 Greenwood Plaza Blvd., the office complex encompasses two buildings of three and five stories, respectively. Franklin Street acquired the Class A asset in 2005 for $44 million, according to CommercialEdge information.<\/p>\n

\n

READ ALSO<\/strong>: A Closer Look at Tech Layoffs\u2019 Impact on Office Leasing<\/a><\/p>\n

\n

Kaiser has been anchoring the office campus since 2013, the same data provider shows. AT&T and Bright Horizons also have leases at the property.<\/p>\n

Greenwood Plaza is near the Village Center Light Rail Station and Interstate 25, being surrounded by a variety of retail and dining destinations. Downtown Denver is some 13 miles northwest.<\/p>\n

Cushman & Wakefield Managing Directors Ryan Stout and Nathan Bradley, along with Director Zachary Williams and Associate Broker Kiley Crews, brokered the transaction on behalf of Franklin Street. JLL Executive Vice President Patrick Bolick and Vice President Kurt Liss represented the tenant in the lease renewal.<\/p>\n

Denver office vacancy rate hits record high<\/h2>\n

The prominent office markets in the Western region observed a notable surge in vacancy rates, according to a recent CommercialEdge report<\/a>. This can be attributed to the substantial presence of tech companies and the prevalence of remote work.<\/p>\n

In Denver, a market where 27.5 percent of employees are working remotely, the office vacancy rate<\/a> reached 20.2 percent as of May, report data shows. The index recorded a 3 percent increase year-over-year, making it the highest vacancy rate in the region and the third highest nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"

The tenant has been anchoring the two-building property since 2013. <\/p>\n","protected":false},"author":3030,"featured_media":1004669917,"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":[32799,32971,35954],"class_list":["post-1004669916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-denver","category-latest","category-office","category-west","tag-cushman-wakefield","tag-franklin-street-properties-corporation","tag-kaiser-permanente"],"acf":[],"yoast_head":"\nFranklin Street Inks 121 KSF Denver Lease Renewal - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Kaiser Permanente has extended its lease at Franklin Street Properties\u2019 Greenwood Plaza, an office campus in Eaglewood, Colo., near Denver.\" \/>\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\/franklin-street-inks-121-ksf-denver-office-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franklin Street Inks 121 KSF Denver Lease Renewal\" \/>\n<meta property=\"og:description\" content=\"Kaiser Permanente has extended its lease at Franklin Street Properties\u2019 Greenwood Plaza, an office campus in Eaglewood, Colo., near Denver.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/\" \/>\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=\"2023-06-28T11:00:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-28T12:02:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Greenwood-Plaza.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1867\" \/>\n\t<meta property=\"og:image:height\" content=\"1400\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/\",\"name\":\"Franklin Street Inks 121 KSF Denver Lease Renewal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Greenwood-Plaza.jpg\",\"datePublished\":\"2023-06-28T11:00:42+00:00\",\"dateModified\":\"2023-06-28T12:02:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"Kaiser Permanente has extended its lease at Franklin Street Properties\u2019 Greenwood Plaza, an office campus in Eaglewood, Colo., near Denver.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-121-ksf-denver-office-lease\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Greenwood-Plaza.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Greenwood-Plaza.jpg\",\"width\":1867,\"height\":1400,\"caption\":\"Tenants at Greenwood Plaza include AT&T and Bright Horizons. 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