OneBeacon Insurance Company
OneBeacon Insurance Company (OneBeacon) was nearing the end of a long-term lease in its facility located in Aurora. Situated in an area that was becoming increasingly unsafe for its employees, OneBeacon was looking to move to a more desirable location in Southeast Denver that would still be accessible to employees. In addition to a more attractive location, OneBeacon also sought a more efficient and effective space layout, as well as more amenities.
OneBeacon wanted to stay within a five mile radius of its current facility. The company needed to locate a large block of space that would keep its entire operation on no more than two floors. If a move was eminent, OneBeacon wanted to take the time to assure that the location, the character of the building and space, as well as the amenities were substantially better than its current location.
Studley (now Savills Studley) presented OneBeacon with options in both the Aurora/I-225 corridor and the I-25 corridor southeast. Taking advantage of a strong tenants’ market, Studley leveraged the size and financial strength of OneBeacon to find several feasible relocation options.
After careful consideration, OneBeacon selected Terrace Tower in the Denver Technological Center. Studley was able to secure a long-term lease with maximum flexibility and a below-market renewal rate. OneBeacon was able to move into a superior building that was loaded with amenities, saving $1.6 million dollars from their former landlord’s best and final offer.
Greenwood Village, CO
Disposition, Lease Relocation