4600 South Syracuse Street, Englewood
The Challenge
Wild Blue, a high-speed Satellite Internet company, sought 25,000 s.f. of space in this premier office building in the Denver Tech Center. The veritable start-up was exceptionally well financed by Liberty Media, Kleiner Perkins Venture Capital, and others, but had no track record. The Landlord was nervous about funding the high cost of infrastructure and build-out for an unproven company, complicated by the satellite Internet technology requirements and lab specifications necessary to conduct research and operations. Our challenge was to find a way to balance risk and cash flow guarantees that would satisfy the Landlord's needs and concerns. This meant devising a way to allow for Wild Blue’s growth, while not committing them to the entire facility for a period of time, and ensuring that contiguous space for expansion was available when they needed it.
The Solution
Bartell & CO Real Estate found common ground that resolved the financial and risk concerns of the Landlord as well as future growth issues for the tenant. Based on our real estate development, leasing, and construction expertise, we offered solutions to space planning architects, the Landlord, and the tenant that reduced the initial space requirements. At the same time, we maintained effective floor plan flow should future growth be realized. Our experience helped convince the Landlord that doing the deal was the right choice.