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DENVER-Fast growing Exclusive Resorts, which last indicated that it might leave Denver, is more than doubling its lease by leasing 80,000 sf in the Park Central building at 1515 Arapahoe St. That's a 128% increase in size from the current 35,000 sf it is leasing in the historic Sugar Building at 1530 16th St.
The company, of which a majority is owned by AOL founder Steve Case, signed a seven-year lease to occupy nearly six floors of Park Central. The company currently employs 200 people, a 500% increase from two years ago. The new space can handle more than 300 people. The move is expected in late summer.
"This move underscores our commitment to Denver, which has provided an excellent climate for our fast-growing corporate headquarters," says Brent Handler, president and co-founder of Exclusive Resorts, which for a fee allows members to use luxury homes and condos throughout the world. The average value of one of its properties is $3 million. "We have enjoyed the ability to attract high-quality talent as we pioneer the way for luxury residence clubs, a popular alternative to second home ownership."
John Huggins, director of the Denver Office of Economic Development, says he is "delighted that this high-energy company has not only chosen to make Denver its national headquarters, but that it will now be rejuvenating a significant amount of Downtown commercial space." He went on to say it represents an opportunity for continued job growth in Denver.
Last year, the company was seeking a subsidy from the city and the state in order to stay in Denver. At the time, company execs said they had been offered incentives to move its corporate headquarters to suburban Washington, DC. However, some City Council members and at least one competitor questioned whether the company needed a government handout. With no fanfare, the company dropped its request for a subsidy.
Exclusive Resorts has approximately 300 residences in 36 locations, with more than 100 under development.
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