The 201 Fillmore development site on Saturday, Nov. 4, 2023. (Thomas Gounley/BusinessDen)
An office building that will house one of Colorado’s largest oil and gas firms is beginning construction in Cherry Creek.
Seattle-based developer Schnitzer West said in a statement Friday that the firm is breaking ground on an eight-story, 140,000-square-foot building at 201 Fillmore St.
The project, financed in partnership between Schnitzer West and Denver-based Brue Baukol Capital Partners, is designed by Chicago-based architecture firm Goettsch Partners and will be constructed by Canadian general contractor PCL Construction, which has its main U.S. office in Denver.
The building’s most notable attribute, however, is its tenant.
Schnitzer West has previously said the building’s seven floors of office space are fully leased. But the company has never named the tenant, including in its Friday news release touting the groundbreaking.
But sources told BusinessDen in September 2022, and public records later confirmed, that tenant is Antero Resources Corp.
The building will serve as the firm’s headquarters, replacing the existing one 1615 Wynkoop St., right next to Union Station in downtown Denver. Antero has not commented on the move. The firm had revenue of $7.14 billion in 2022.
Downtown’s office sector faces challenges, hitting the 30 percent vacant mark in the third quarter. The much-smaller Cherry Creek submarket, however, has been booming. Total vacancy, which includes sublease listings, was just 8.4 percent last quarter, per CBRE. In addition to Schnitzer West’s project, several other office buildings are under construction or in the planning stages.
It can be hard for large companies to find big blocks of space in Cherry Creek. Antero will join Janus Henderson Investors as one of the neighborhood’s anchors; the financial firm has 160,000 square feet, according to previous reporting.
A rendering of the 201 Fillmore building. (Courtesy Schnitzer West)
The 201 Fillmore building will have restaurant space on the ground floor and five levels of underground parking, according to the developer.
“201 Fillmore is the future of functional, quality and efficient office space and will set the standard for office buildings in the Denver area and beyond,” Doug Zabel, Schnitzer West managing partner, said in a statement.
Earlier this year, Schnitzer West completed The Current office building at 3615 Delgany St. in RiNo. In Cherry Creek, the firm developed the Civica, an office building across the street from the 201 Fillmore development site. The building set a Denver record for price per square foot when Schnitzer West sold it in 2021.
Schnitzer West is also building an apartment project in Centennial and expects to break ground on a Boulder office project next month.
The 201 Fillmore property is owned by 201 Fillmore LLC, an entity whose sole member is Barry Hirschfeld, records show. He has owned the property for decades. Schnitzer West said last year it had ground leased the site, previously home to a retail building used by Men’s Wearhouse and others.
The 201 Fillmore development site on Saturday, Nov. 4, 2023. (Thomas Gounley/BusinessDen)
An office building that will house one of Colorado’s largest oil and gas firms is beginning construction in Cherry Creek.
Seattle-based developer Schnitzer West said in a statement Friday that the firm is breaking ground on an eight-story, 140,000-square-foot building at 201 Fillmore St.
The project, financed in partnership between Schnitzer West and Denver-based Brue Baukol Capital Partners, is designed by Chicago-based architecture firm Goettsch Partners and will be constructed by Canadian general contractor PCL Construction, which has its main U.S. office in Denver.
The building’s most notable attribute, however, is its tenant.
Schnitzer West has previously said the building’s seven floors of office space are fully leased. But the company has never named the tenant, including in its Friday news release touting the groundbreaking.
But sources told BusinessDen in September 2022, and public records later confirmed, that tenant is Antero Resources Corp.
The building will serve as the firm’s headquarters, replacing the existing one 1615 Wynkoop St., right next to Union Station in downtown Denver. Antero has not commented on the move. The firm had revenue of $7.14 billion in 2022.
Downtown’s office sector faces challenges, hitting the 30 percent vacant mark in the third quarter. The much-smaller Cherry Creek submarket, however, has been booming. Total vacancy, which includes sublease listings, was just 8.4 percent last quarter, per CBRE. In addition to Schnitzer West’s project, several other office buildings are under construction or in the planning stages.
It can be hard for large companies to find big blocks of space in Cherry Creek. Antero will join Janus Henderson Investors as one of the neighborhood’s anchors; the financial firm has 160,000 square feet, according to previous reporting.
A rendering of the 201 Fillmore building. (Courtesy Schnitzer West)
The 201 Fillmore building will have restaurant space on the ground floor and five levels of underground parking, according to the developer.
“201 Fillmore is the future of functional, quality and efficient office space and will set the standard for office buildings in the Denver area and beyond,” Doug Zabel, Schnitzer West managing partner, said in a statement.
Earlier this year, Schnitzer West completed The Current office building at 3615 Delgany St. in RiNo. In Cherry Creek, the firm developed the Civica, an office building across the street from the 201 Fillmore development site. The building set a Denver record for price per square foot when Schnitzer West sold it in 2021.
Schnitzer West is also building an apartment project in Centennial and expects to break ground on a Boulder office project next month.
The 201 Fillmore property is owned by 201 Fillmore LLC, an entity whose sole member is Barry Hirschfeld, records show. He has owned the property for decades. Schnitzer West said last year it had ground leased the site, previously home to a retail building used by Men’s Wearhouse and others.
