01 The Opportunity
02 The Solution
Unfortunately, the market in Northwest Denver for 150,000 square foot blocks of office space was extremely tight at the time Vail was beginning the real estate evaluation process. Out of the 11 million square feet of office space that comprises the Northwest Denver/Boulder corridor, there was not a single contiguous vacancy over 150,000 square feet. This left Vail with two options - either extend their lease and expand in their current building, or commit to a costly built-to-suit that would take a minimum of two years to execute and construct.
Cushman & Wakefield's key strategic challenge in this situation was to create the leverage necessary to negotiate favorable lease terms with their existing landlord, who believed that Vail's only real option was to stay and expand within their building. After discussions with numerous developers and land owners along the I-36 corridor, Cushman & Wakefield was able to identify one developer who was willing to propose terms on a build-to-suit that were aggressive enough to entice Vail to strongly consider a relocation.