Unico Properties Bets Bigger On Denver
Seattle-based Unico Properties is expanding its presence in Denver with its first ground-up development in the market, the 90k SF 1615 Platte, which will break ground this summer.
The development follows a number of deals that give the company the entirety of the west side Platte Street from 15th to 16th.
Unico SVP of acquisitions and development Ned Carner tells us that the company has enlarged its holdings in Denver rapidly because "we believe Denver will continue to grow for a long time, and we like to invest in places that will be desirable for decades to come."
Moreover, Denver will be able to weather an eventual downturn in the wider economy better than other markets, Ned says, because its desirability is the draw that attracts bright people, who form a vibrant workforce.
"Also, its increasingly diverse economy positions Denver well for future growth." The property will include 80k SF of office space and 10k SF of retail space. Besides the Platte Street holdings, the company has more than 2M SF of existing office space in the market.