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Nortel Takes 83,000 SF in Newly Opened $40-Mil Peakview Tower

DENVER-Nortel Networks will occupy 83,000 sf in Peakview Tower, the city's newest class-A office project. More deals are expected to break soon, with all eyes on a 50% occupancy level by week's end for the $40-million tower.

By John Rebchook | Updated on February 05, 2001

DENVER-Nortel Networks Corp. is leasing 83,000 sf in the just opened Peakview Tower in Greenwood Plaza in the city’s southeast corridor.

The 10-story, 265,000-sf Peakview Tower neighbors Fiddler’s Green, a popular outdoor amphitheater for concerts off of Interstate 25. Nortel will take three floors in the $40-million building that has been developed by Dallas-based Insignia Commercial Investments Group, a subsidiary of New York City-based Insignia Financial Group.

Triple net leases in the metro area’s newest class-A office project are in the $19 to $20 per sf range, with another or $80 or $90 per sf in expenses, says Chuck Zeman, director of leasing for Insignia/ESG, the marketing and brokerage arm of Insignia.

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