https://www.bizjournals.com/denver/n...V3PT0ifQ%3D%3D
by Andrew Dodson – Reporter, Denver Business Journal
58 minutes ago
Following the sale of their two office buildings near Colorado Boulevard and Interstate 25, Schnitzer West has unveiled plans to develop three, 16-story office towers in Centennial that could total roughly 900,000 square feet.
The office development, called Westray, will be developed in phases at 6363 Greenwood Plaza Blvd., with the first building to break ground in the third quarter of 2020 and take about two years to deliver. That phase includes the development of a 290,000-square-foot tower with 30,800-square-foot floor plates.
Doug Zabel, managing partner at Bellevue, Washington-based Schnitzer West, said easy access to RTD’s rail system was attractive about the 11-acre location in Centennial, which is across from Fiddler’s Green Amphitheater and just west of the Village Center light rail station.
“We see tremendous opportunity in the Denver going and will continue to invest in strategic development opportunities throughout the area,” he said.
Schnitzer West purchased the 11-acre site in February for $20.25 million, according to Arapahoe County public records.
At the end of October, Schnitzer West, along with Investcorp, sold off Centerpoint I & II, located at 3900 E. Mexico Ave. and 1777 S. Harrison St., for a combined $77.5 million. The two companies purchased the 14- and 16-story towers in June 2016 for $52.7 million.
This marks the third major office project that Schnitzer West is taking on across metro Denver.
Other projects include The Current River North, a 12-story, 200,000-square-foot office building planned at 3615 Delgany St. in the River North Art District, and a two-building office development at the old Westminster Mall site, which is now being called Downtown Westminster. That project will total 650,000 square feet.