Healthpeak signs full-floor lease, will relocate HQ to DTC

A national real estate investment trust leased a full floor at a Denver Tech Center office property and will relocate its headquarters to the space next year.

Healthpeak will occupy the eighth floor, approximately 32,000 square feet, of 50Fifty DTC, the 192,351-sf, Class A office building at 5050 S. Syracuse St. Jason Sheehy of Transwestern represented the tenant, while Bill Woodward of Rise Commercial represented the landlord, 5050 South Syracuse LLC.

The tenant signed a 10-year lease at the property. Woodward declined to release the tenant’s rental rate, but according to CoStar data, rent is $27 per sf.

Healthpeak, which invests in properties related to the healthcare industry, will be the first tenant to occupy the eighth floor. Woodward said the space has been available for lease since the property’s completion in late 2018 and has garnered strong tenant interest. He said interest remained stable following the onset of COVID-19 in March.

Woodward attributed tenant interest to the property’s “state-of-the-art construction and architectural design.” He said the building’s amenities, including a fitness center and underground parking, attracted many tenants as well.

The addition of Healthpeak brings the property’s occupancy rate to 75%. According to CoStar data, other tenants at the property include Pacific Western Bank, which occupies approximately 36,000 sf, and Yes Communities, which occupies approximately 32,000 sf.

The tenant will complete a custom build-out at the property in the coming months, as its space is currently in shell condition. Following the renovations, Healthpeak will relocate its headquarters to the new office from its Anaheim, California, location. The tenant is expected to occupy in June.

Featured in the December 16, 2020 – January 5, 2021, issue of CREJ