Google Fiber Signs Lease at Denver-Area Mixed-Use Campus

Google Fiber has signed a lease agreement for more than 13,000 square feet at Belmar, a 1.5 million-square-foot mixed-use district in Lakewood, Colo. The landlord is Bridge33 Capital.

The internet service provider will relocate its Thornton, Colo., team and the Denver Webpass team to the new office, which is planned to open in October, according to the Denver Business Journal. The space will feature collaborative workspaces, hot desks, along with smaller offices and phone booths.

Belmar, up close

Denver-based Continuum Partners developed Belmar on the former site of the Villa Italia mall. Bridge33 acquired the 2004-completed property in 2021 for some $110 million from Starwood Capital Group.

Belmar currently comprises some 726,000 square feet of retail space, 300,000 square feet of office space and more than 1,300 residential units. Other office tenants include Muller Engineering Co., The Integer Group and PC Assist, according to CommercialEdge data.

Located at the crossroads of Wadsworth Boulevard and Alameda Avenue in Lakewood’s downtown, the 22-block development also features the Lakewood City Commons shopping mall, a Target store and a Whole Foods market.

A below-average performance for Denver’s office market

Denver had a 22.2 percent vacancy rate as of December, 390 basis points higher than the national average, according to the latest CommercialEdge office report. The metro’s listing rate was also lower than the country’s $37.6 average, clocking in at $30.2.

In one of last year’s more significant deals, Xcel Energy-Colorado preleased all 220,000-plus square feet of office space at T3 RiNo in Denver. Developed by Ivanhoé Cambridge, Hines and McCaffery, the building will house the company’s new regional headquarters starting with 2025.

Also last year, architecture firm Merrick & Co. signed a 69,154-square-foot lease at Drawbridge Realty’s 100,338-square-foot building in Greenwood Village, Colo. The firm committed to 12 years at Greenwood 4, one of five buildings at Greenwood Corporate Plaza.