Strong Signs in Suburbs
Bit Systems has inked a 13k SF renewal at Pavilion Towers (2821 S Park Rd building) in Aurora. Whats noteworthy is the company expanded by 1,000 SF-- organic growth at a time when the suburban office market has been overshadowed by the CBD. For Boxer Propertys Aaron Chase, thats the sign of things to come for Denvers suburban office market.
Boxer has invested millions in refurbishing the two-building Pavilion Towers complex. Most recently, it renovated a new tenant center at Pavilion Caf, with couches, free Wi-Fi, and a restaurant. Its part of Boxers efforts to field a slew of smaller direct deals that are growing and seeking office space in the 'burbs, Aaron says. Through the first Q of 2013, Ive been leasing about 4,000 to 6,000 SF a month with average term of four to five years, he says.
