Client: American Management Systems
It may be necessary to consider leasing a new build-to-suit facility instead of an existing office building,
especially if a tenant desires a location in one of Metro Denver/Boulder's "tight" submarkets.
As a consulting firm to the burgeoning mobile tele-communications industry, American Management Systems ("AMS") found itself with 93,000 rentable square feet spread out among three (3) different buildings in the West Central Denver submarket. AMS needed badly to expand again to keep pace with the worldwide demand for their services. Nevertheless, sufficient space to expand and locate under one roof did not exist within their West Lakewood/Golden geographic parameters. AMS also did not know how much space it needed in the long-term.
Again, with the help of a tenant-oriented Space Planner/Interior Architect, MacLaurin Williams* helped AMS to figure out its immediate needs. MacLaurin Williams* also helped to set specific goals for future expansions over the next thirty-six (36) months and then define AMS' ideal standards for open versus private offices, floorplate size, bay depth and, very importantly, intensive parking.
Ultimately, AMS decided to pursue a 150,000 square foot build-to-suit to be constructed on a fast track, thirteen (13) month delivery schedule in an established office park. For both efficient expansion and contraction purposes the project will likely be built in two, three-story 75,000 square foot wings, arranged off of a central building core. If needed for future expansion, a third 75,000 square foot wing could be added to the back giving the 225,000 square foot building an L-shape. Should AMS' business decline at some point, it can cancel or sublease space in increments as small as one (1) full floor of a wing, or 25,000 square feet.
In order to consider a build-to-suit office lease, a tenant would have to have strong credit and be willing to make a ten (10) to fifteen (15) year commitment. Whether it is to lease or to own, a mid-rise Class B to Class A office building would cost in the range of $125.00 to $160.00 per rentable square foot if located in a suburban Metro Denver location.
*due to company name change since this event occured alterations have been made in order to refrence MacLaurin Williams' current name
