April 21, 2023 9:00 AM
Newmark announces that Pivot Energy, a Denver-based solar energy company, has signed a new 22,628-square-foot headquarters office lease at 1601 Wewatta Street in Denver’s Lower Downtown. Pivot Energy occupies three-quarters of the seventh floor.
Pivot Energy, which has six offices throughout the U.S., is a national solar provider and a certified B Corporation aiming to positively impact society as measured by Environmental, Social, Governance (ESG) factors. As a certified B Corporation, Pivot Energy’s focus on sustainability is evidenced through this lease—the company is moving into a space with existing build-out and furniture, adding an adjacent, 4,000-square-foot touch-down space for hybrid and traveling employees. The space features a private patio with a green roof feature, outdoor seating and grills.
“Pivot has seen significant growth in recent years thanks to increased demand for solar and favorable market conditions nationally. When we outgrew our current space, we wanted to be thoughtful of the needs of our Denver-based employees and uphold our commitment to the environment,” said Tom Hunt, CEO of Pivot Energy. “We selected this location because it has amenities that offer a comfortable and inclusive office experience and encourage public transportation, walking and biking. We’re excited to get to work in this new space.”
1601 Wewatta is a Class AA, LEED-certified, 299,127-square-foot office property with ground-level retail. The property’s state-of-the-art features include 10’ finished ceilings, full-height glass walls, a workout facility, four levels of sub-grade parking and restaurant spaces with patio seating on the first floor. The property is immediately adjacent to Denver’s transportation hub, Union Station, and its location in Lower Downtown offers immediate access to I-25, RTD light rail and the surrounding residential areas.
Newmark Senior Managing Director Andrew Blaustein and Associate Director Josh Pons represented the tenant in the transaction. CBRE’s Chris Phenicie and Allison Berry represented the landlord, Morgan Stanley. Newmark has also provided strategic leasing advisory for Pivot Energy for office leases in Chicago and Columbus.
“Well-located, unique office assets are maintaining traction with forward-thinking tenants seeking quality long-term fundamentals in their buildings,” said Pons. “This transaction is a continued validation of the comeback of Lower Downtown, as employers look to provide modern workspaces with multi-modal transit options and proximity to activated neighborhoods.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $2.7 billion for the year ending December 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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