Tuesday, July 24, 2012

Daily Camera Building Re-development

If you are responsible for leasing/buying commercial office space for your Boulder-based company, read on. My company, Gnip (a social media company), recently signed a new lease downtown, so the process is still fresh in my mind.

This coming Thursday, July 26th, evening, the Boulder Planning Board is going to hold a public hearing around the latest proposal submitted by the firm hoping to redevelop the "Daily Camera Building."

If you've ever signed a ~7,500+ sqft lease in downtown Boulder, you know how many options you have, and how much leverage you have in the process; near zero. There are a handful of issues with being a "buyer" in Boulder's commercial real-estate market today. One of the major challenges is supply. There is simply very little contiguous, expansive, "class A," office space physically in existence downtown (not to mention it's all basically occupied). The current proposal for the redevelopment of the Daily Camera building would yield ~156k sqft of _new_ class A commercial office space inventory. That is a non-trivial amount that would come online in the coming years. Right when you're needing more office space (if you're not already desperate for it)!

I'd encourage you to go express your commercial needs (current or projected) and experiences leasing large swaths downtown, to the Planning Board so they thoroughly understand the demand-side of this equation.

Boulder has significant building growth restrictions, and this opportunity will not come around again to affect the downtown commercial space landscape to this degree.

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Anonymous said...
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Kevin Wunsch said...

This would mean that renting a house or an apartment during this time or anytime after that would be quite impossible near this place. Hope this has been approved and finished by now.

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Tina Bellman said...

You still have units left? I'm still thinking which to get, an office space for rent makati or this one that you have. I hope you got updates about this, I'm actually losing time already of searching where to rent an office.

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