Northstar Commercial Partners Announces Long-Term Lease Partnership with Pax8 at 5500 South Quebec
The 74,068 sq ft agreement will fill the majority of the property's entire remaining vacancy and is expected to create over $16 million of value
DENVER, June 14, 2018 -- Today, Northstar Commercial Partners announced a long-term lease agreement with Pax8, a leading internet distribution company, at Northstar's 5500 South Quebec building in Denver, Colorado'sTech Center.
The 74,068 sq ft agreement will fill the majority of the property's entire remaining vacancy. Northstar acquired this asset when it was expected that the building's prior major tenant CoBank would be vacating the space for new office space. After the occupancy decreased to approximately 20%, Northstar has worked hard to refill the building with quality long term tenants such as the corporate headquarters for Air Methods, Circle K Convenience Stores, and the Law Offices of Scott Lowery, as well as offices for Waste Management. The location will now be home to hundreds of employees, which will benefit Greenwood Village, DTC, and southeast communities of Denver.
"The work that Pax8 is doing is incredibly needed and innovative to today's market - we are thrilled to welcome them and to provide quality office space for their needs and employees," Brian Watson, Founder and Chairman of Northstar, expressed.
"The Pax8 team is providing inventive and unique digital solutions to create a better future. This lease will not only provide the right space for hundreds of jobs, but will additionally allow for continued opportunities and a growing market through the work Pax8 is doing."
The lease is expected to create over $16 million of value.
"Northstar extends a heartfelt thank you to its broker representatives Cushman and Wakefield's Doug Wulf, Executive Managing Director, Dan Miller, Managing Director, and Andrew McCabe, as well as the tenant's broker Jamie Gard Kent Mau of NGKF, for their exceptional expertise and help in consummating this important deal," Watson added.
Pax8 is a driving leader in internet circulation, providing digital solutions by connecting multiple vendors to implement a variety of different services. Pax8 has earned hearty endorsements from leading companies around the country, including NexGen's Best in Show two years in a row, Biggest Buzz at IT Nation, CRN's Coolest Cloud Vendor, Best in Show at two consecutive XChange conferences, HTG's Rookie of the Year, and more.
Northstar Commercial Partners focuses on buying vacant/distressed buildings to create thriving work and educational environments throughout America, as well as partnering with corporations to buy or build facilities for them which Northstar owns. To learn more about Northstar and the assets it owns in 16 States throughout America, please visit: www.northstarcp.com, and to view the other community empowerment initiatives of Brian Watson its Founder & CEO, please visit: www.brianwatson.us.
MEDIA CONTACT: Kyle Forti, firstname.lastname@example.org