Industry RiNo Station in September 2024. (BusinessDen file)
Industry RiNo Station has lost its largest tenant but renewed the company that was in the No. 2 spot.
The 170,000-square-foot office building at 3827 Lafayette St. was 46% leased as of the end of August, according to a report filed this month by the receiver that oversees the property.
That’s down from 75% at the start of this year.
The main driver of the decline was due to Atlanta-based software firm OneTrust, which no longer appears on the building’s rent roll in the report from receiver Jeremiah Foster of Resolute Commercial Services.
The company, which did not respond to a request for comment, had been the building’s largest tenant. It had 37,000 square feet, or about a fifth of the building, through July as a result of its 2021 acquisition of Convercent.
But Industry RiNo Station scored a recent win with DispatchHealth.
The company, which provides in-home medical care, leased nearly 30,000 square feet through August 2026, per a report earlier this year from Trepp, which tracks real estate loans.
Foster wrote that he reached a deal with DispatchHealth in July to amend that lease, extending it through August 2029. The company did not respond to a request for comment.
With the exit of OneTrust, DispatchHealth is now Industry RiNo Station’s largest tenant. The second-largest tenant is now Intrinsic LLC, a consulting firm with 6,600 square feet, per the rent roll.
Industry RiNo Station was completed in 2017 by Jason Winkler’s Q Factor and New York-based Clarion Partners. In 2022, Clarion exited the building as part of a recapitalization that brought in a new partner, which Winkler previously described as a family. The building has technically been owned since completion by Industry RiNo Station LLC.
Industry RiNo Station is the second of two Industry-branded adaptive reuse coworking buildings that Winkler and partners developed in RiNo last decade. The first was Industry Denver, at 3100 Brighton Blvd. That building sold at a loss last year after a loan default.
Industry Denver was purchased by Boulder-based Conscience Bay Co. Ben Woolf, an executive with the firm, told BusinessDen Wednesday that the building, now named Fabrica RiNo, bottomed out around 40% leased shortly after the late August 2024 purchase.
“We have positive leasing momentum. We’re back over 50%,” Woolf said, adding most leases have been 2,500 square feet or less.
Industry RiNo Station in September 2024. (BusinessDen file)
Industry RiNo Station has lost its largest tenant but renewed the company that was in the No. 2 spot.
The 170,000-square-foot office building at 3827 Lafayette St. was 46% leased as of the end of August, according to a report filed this month by the receiver that oversees the property.
That’s down from 75% at the start of this year.
The main driver of the decline was due to Atlanta-based software firm OneTrust, which no longer appears on the building’s rent roll in the report from receiver Jeremiah Foster of Resolute Commercial Services.
The company, which did not respond to a request for comment, had been the building’s largest tenant. It had 37,000 square feet, or about a fifth of the building, through July as a result of its 2021 acquisition of Convercent.
But Industry RiNo Station scored a recent win with DispatchHealth.
The company, which provides in-home medical care, leased nearly 30,000 square feet through August 2026, per a report earlier this year from Trepp, which tracks real estate loans.
Foster wrote that he reached a deal with DispatchHealth in July to amend that lease, extending it through August 2029. The company did not respond to a request for comment.
With the exit of OneTrust, DispatchHealth is now Industry RiNo Station’s largest tenant. The second-largest tenant is now Intrinsic LLC, a consulting firm with 6,600 square feet, per the rent roll.
Industry RiNo Station was completed in 2017 by Jason Winkler’s Q Factor and New York-based Clarion Partners. In 2022, Clarion exited the building as part of a recapitalization that brought in a new partner, which Winkler previously described as a family. The building has technically been owned since completion by Industry RiNo Station LLC.
Industry RiNo Station is the second of two Industry-branded adaptive reuse coworking buildings that Winkler and partners developed in RiNo last decade. The first was Industry Denver, at 3100 Brighton Blvd. That building sold at a loss last year after a loan default.
Industry Denver was purchased by Boulder-based Conscience Bay Co. Ben Woolf, an executive with the firm, told BusinessDen Wednesday that the building, now named Fabrica RiNo, bottomed out around 40% leased shortly after the late August 2024 purchase.
“We have positive leasing momentum. We’re back over 50%,” Woolf said, adding most leases have been 2,500 square feet or less.
