Intrado, formerly called SCC Communications, expanded its world headquarters lease to 276,000 sf from 210,000 sf.
In addition, Intrado extended its lease term from eight years to 10 years. The original lease was valued at $25.725 million. The total lease value with the extension and expansion is now $43 million.
In an office market of 7 million sf and 17% availability, "this is the biggest lease in Boulder County in recent memory," CB Richard Ellis broker Frank Kelley tells GlobeSt.com.
Kelley represented Koll Bren Schreiber Realty Advisors with fellow CB Richard Ellis office broker Doug Bakke. Paul Whiteside of Keys-Whiteside represented Intrado.
Prior to this lease, Intrado's operations were scattered in a handful of locations throughout the Gunbarrel area of Boulder. The company is consolidating its operations into one central headquarters location.
To make the space even more appealing to the tenant, Koll Bren Schreiber Realty Advisors installed $1.8 million worth of skylights in the building.
Two of the three skylights service Intrado. The third skylight will benefit the remainder of the available space. Also, because the parking ratio was low for this type of flex project (2.75 stalls per 1,000 sf of space), Koll Bren Schreiber is increasing the size of the parking lots, so that the entire building will enjoy a 4.2 per 1,000 ratio.
"In a down market, owners often need to be more accommodating to attract and sign potential tenants," Kelley tells GlobeSt.com. "Koll Bren Schreiber Realty Advisors was willing to go the extra mile for Intrado to get the deal done, plus make the building more appealing to other potential tenants.
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