WeWork Commits to Junction 23 Creative Redevelopment in Denver
March 29, 2019
DENVER, CO (March 29, 2019) – Office workspace leader WeWork has committed to a long-term, full building lease at Junction 23, a creative office redevelopment by EverWest Real Estate Investors, WHI Real Estate Partners L.P. and George Oliver Companies, in Denver’s booming River North (RiNo) District.
Located at 2323 Delgany Street, Junction 23 is the culmination of an extensive 12-month building renovation that repositioned a 1975-built property into an innovative, 86,127-square-foot creative office redevelopment in the heart of Denver’s quickly emerging urban live-work-play environment encompassing the downtown, RiNo and Lower Downtown (LoDo) neighborhoods.
“Denver is full of creative, thriving businesses,” said EverWest Senior Vice President of Asset Management Krystal Arcenaux. “Junction 23 was our opportunity to apply our team’s creative office redevelopment program to serve the entities that are evolving in our own backyard. Welcoming WeWork validates the vision and goal of this project, and we look forward to their success at this location.”
New York-based WeWork provides flexible space, community and services with a global reach for entrepreneurs, freelancers, startups, small businesses and large enterprises of all sizes. The company currently operates four locations in Denver – at The Triangle Building, The Lab, Tabor Center and The Hub – making it Denver’s largest office user.
“As Junction 23’s sole tenant, WeWork will enjoy Junction 23’s very creative build out, beginning with a large glass front entry and extending into open interiors that are packed with flexible work environments and other conveniences designed for today’s modern working culture,” said EverWest Executive Vice President of Development Services Larry Lance.
This includes 16-foot windows, 25-foot exposed ceilings, more than two dozen skylights and energy-efficient LED lighting. The building’s indoor-outdoor concept features modern conference rooms, small group breakout areas and roll-up garage doors that connect to a center atrium and outdoor meeting spaces. Junction 23 also offers an on-site fitness center with showers and locker rooms, on-site bike storage and direct access to the adjacent Millar E.B. Coffee Co., where employees and visitors can gather for work and relaxation.
Junction 23 is situated at the corner of Park Avenue and Delgany Street, within walking distance to Denver’s central business district, LoDo neighborhood, Union Station and dozens of restaurants and retailers, and a short drive to I-25 and Denver International Airport.
Newmark Knight Frank Executive Managing Director Jamie Gard and Associate Director Laura Sperry represented EverWest and WHI Real Estate Partners in the WeWork lease. Gensler was the project architect for Junction 23. Colorado-based Provident Construction was the general contractor.
WeWork meets companies of all types and stages – from startups to the 32 percent of Fortune 500 companies that now call WeWork home – where they are today and helps them grow to where they want to be tomorrow, next year, in a decade. As a global company with a hyper-local playbook where company becomes community, WeWork provides more than 400,000 members around the world with space, local connectivity, and services through both physical and digital offerings.
Founded in New York City in 2010 by Adam Neumann and Miguel McKelvey, WeWork currently has more than 425 physical locations in 100 cities and 27 countries around the world. WeWork transforms buildings into dynamic environments for creativity, focus, and collaboration. More than just a new way of working, though, this is a movement toward a new way of living. Follow us @WeWork on Twitter, Instagram, and Facebook or visit wework.com to learn more.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. EverWest has an active track record of successful creative office renovations spanning major markets across the West. In addition to Junction 23, these developments include LINQ in Redondo Beach, California; UpCycle in Austin, Texas; The Quad in Scottsdale, Arizona; and The Circuit in Tempe, Arizona. For more information on EverWest, visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.
About WHI Real Estate Partners L.P.
WHI Real Estate Partners L.P. (“WHIREP”) is a Chicago-based investment firm focused on repositioning middle-market real estate assets throughout the United States. WHIREP manages a series of discretionary investment funds on behalf of university endowments, foundations, pension plans, family offices, and other investors. For more information about WHI Real Estate Partners L.P., visit www.whirep.com.
About George Oliver Companies
George Oliver Companies is a Phoenix-based, privately owned commercial real estate investment and operating company specializing in transforming obsolete buildings and business parks into first-class, institutional-quality office communities. By looking beyond the surface of an asset, George Oliver turns potential into profitability through acquisition, redevelopment/transformation, asset management and development. To learn more or to discuss new project opportunities, visit www.georgeoliver.com.
EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. For more information on EverWest, visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.