Crestone Capital leases space at Pearl West
Last Updated: 13:14 February 5, 2014
Boulder-based Crestone, an investment firm, will occupy just less than 30,000 square feet on the top floor of the Pearl Street side of the property, according to Lynda Gibbons, president of Gibbons-White Inc., who is handling the leasing of Pearl West.
"We're really excited to be a part of the building. It's an amazing location at 11th and Pearl, and it's going to be one of the best locations in Boulder," said Patience Baldwin, a spokeswoman for Crestone.
A team named Ten Eleven Pearl LLC and led by the Nichols Partnership is redeveloping the property at 1048 Pearl St. and the adjoining property to the south at 1023 Walnut St.
The Nichols Partnership is known for some prominent redevelopment projects in downtown Denver, including Clayton Lane shopping in the Cherry Creek shopping district.
Pearl West plans call for a mix of office, retail and restaurant space, as well as a theater and parking structure.
In late 2012, the Nichols Partnership purchased the property for $13.5 million from Karlin Real Estate, a Los Angeles-based real estate investment and development group. Karlin got the ball rolling on the redevelopment after it bought the property for $9 million.
The project is slated for completion by the third quarter of 2015.
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