DENVER-Catholic Health Initiatives, a national non-profit health care system, has expanded its lease agreement with Lowe Enterprises to occupy the entire 161,000-square-foot 198 Inverness Dr. W. office building in Southeast Denver. The expansion will allow CHI to continue to consolidate its system staff into one location.
In 2009, CHI executed an 11-year lease for 100,000 square feet at the property and began relocating associates to the building in June 2010. Los Angeles-based Lowe Enterprises tells GlobeSt.com that financial terms of the lease transaction are not available, but points out the new lease lines up with the existing lease term of 11 years and will expire Dec. 31, 2021.
Lowe acquired 198 Inverness Dr. W. in 2006 on behalf of an investment client and serves as property and asset manager for the eight-story, class A office building, which was built in 1990. Lowe achieved LEED Gold certification for 198 Inverness Drive West from the U.S. Green Building Council in 2009.
“198 Inverness offered CHI flexible work space options and nearby amenities. With CHI now leasing the entire building, we have the opportunity to tailor our facility operations to their needs,” says Mara Fabian, senior vice president of Lowe Enterprises.
The office building is located within the 980-acre Inverness Business Park, adjacent to the Inverness Hotel and Conference Center and its 18-hole golf course, which Lowe acquired in 1995 and operates through its hospitality subsidiary, Destination Hotels & Resorts. Nick Pavlakovich of Cushman & Wakefield represented CHI while John Marold of CB Richard Ellis represented Lowe in the transaction.
Lowe Enterprises has maintained a regional office in Denver since 1985 and is an active investor and developer of institutional quality real estate, including office, industrial and residential products. The firm currently operates approximately 1 million square feet of commercial space in the Denver area.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
