Cigna to establish regional headquarters at Colorado Center

Colorado Center Tower 3.
ASB Real Estate Investments and Lincoln Property Co. announced a 135,800-square-foot lease with Cigna in Colorado Center Tower 3.

Global insurance and health services company Cigna has signed a lease for 135,800 square feet in Colorado Center’s recently completed Tower 3.

The space will serve as the company’s regional headquarters, housing more than 1,000 employees on five full floors. Colorado Center is located at Interstate 25 and Colorado Boulevard.

“Our new home at Colorado Center is a significant investment in our Colorado workforce and affirmation of our continued momentum in the Mountain States region. Colorado Center is a fantastic 21st century facility that will provide collaborative workspaces and first-rate amenities that will enable our employees to better serve our clients and customers,” said John Roble, president of Cigna’s Mountain States Market.

The company will move from its current location at I-25 and East Orchard Road in the Denver Tech Center early next year. Lee Diamond and Todd Papazian of CBRE represented Cigna in the transaction.

ASB Real Estate Investments and Lincoln Property developed the 227,000-sf Tower 3, which was completed last summer. Law firm Ogletree, Deakins, Nash, Smoak & Stewart also will be a tenant in the building, occupying 19,900 sf.

The eight-story, LEED Silver building sits above a six-story garage podium with ground floor retail space. It features 27,000 floor plates with high ceilings and floor-to-ceiling glass, offering sweeping views of the mountains and Denver skyline. Tower 3 also has a 5,300-sf rooftop terrace for company functions and employee use.

Colorado Center, which is adjacent to the Colorado light-rail station, includes 720,000 sf of Class A office space, along with Dave & Busters and a United Artists IMAX theater. Lincoln Property and ASB plan to build a 12,000-sf food hall that will open in early 2019 and include local chef-driven concepts, a live performance venue and outdoor plaza.

“Both Cigna and Ogletree Deakins were attracted to Colorado Center by our central location, mass transit options and cutting edge design, not to mention the new food hall amenity, which taken all together will provide their employees with one of the most desirable work environments in the entire Denver market,” said Scott Caldwell, senior vice president of Lincoln Property Company Denver.

Robert Bellinger, ASB president and CEO, said, “ASB invests in property assets in major U.S. urban submarkets where blue-chip businesses and their employees are moving and will want to stay over long-term investment holding periods.

“In Denver, where mass transit access has become an increasingly important attribute, Colorado Center is meeting our expectations for becoming such a high-value location and the city’s premier transit-oriented development. In addition, Tower 3’s LEED design, high-quality features, and superior amenities have made for an extremely successful project with anticipated staying power.”

ASB invests in Colorado Center on behalf of its Allegiance Fund, a $7.4 billion core vehicle.

Updated April 27, 2018

Be sure to watch for more on this story here and in CREJ’s May 2-15 issue.

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of Golden's community newspaper, The Golden Transcript. Jill earned a bachelor’s degree in mass communications from Colorado State University-Pueblo. When she's not keeping you up-to-date on the latest happenings in Colorado's commercial real estate market, Jill can be found cross-country skiing, exploring the outdoors with her dog, playing piano, reading, or hanging out with family and friends.