Technology company Madwire managed to sign one of the biggest office leases in Fort Collins at a time when large blocks of office space are virtually nonexistent.
The digital marketing software company leased 102,000 square feet at the former LSI Logic (Avago) chip manufacturing facility at 3405 S. Timberline Road. Building owner 2001 Danfield has been repurposing the two-story building, which it bought in 2016, as office space.
Madwire needed room to accommodate its growing Colorado operations, which it expects will employ up to 1,200 people over the next three years. Located at the northwest corner of South Timberline and Horsetooth roads, the building is near Madwire’s office at 3420 Harmony Road, which it will continue to occupy.
“It just turned out to be a great fit,” said CBRE Vice President Peter Kast, who represented the landlord with CBRE’s Pete Kelly.
“Madwire is a company that prioritizes their employee experience and company culture, so it was important for them to find the right space and to stay close to their current office. As demand for Madwire’s services continues to rise, 3405 S. Timberline was one of the only buildings in the area that was large enough to accommodate the company’s impressive growth.”
The deal was in the works for many months with the owner working out the “nuts and bolts” of new mechanical and electrical systems, installing an additional elevator and so forth, said Kast.
“We don’t have many buildings of this magnitude in this market, so when somebody needs one, you have to figure out a way to make it work,” said Kast.
Locker rooms, a “generous” fitness facility and large auditorium will be added for Madwire employees. The building includes a cafeteria and is close to bike trails, retail, restaurants and other amenities.
The lease commences in November. Madwire will have use of the entire building, which includes an additional 47,000 sf of basement area.
“We are excited to begin the renovations on the new space, and our team is extremely excited about the expansion,” Farra Larimore, Madwire public relations director, said in an announcement. “The new building is less than 3 miles from our current location, which will still allow for team collaboration. We are especially excited to be able to grow to 1,200 over the next few years with the addition of this building.”
Madwire moved from three locations in Loveland to Fort Collins in 2016 in order to consolidate under a single roof. The relocation reduced commute times for about 65 percent of employees at the time.
Madwire specializes in designing, developing and launching creative marketing solutions for small business through its Marketing 360 platform.
Featured in CREJ’s April 4-17, 2018, issue