Savills Studley Arranges Sublease for WPX Energy at 1001 17th Street

20 October 2016

Savills Studley, the leading commercial real estate services firm specializing in tenant representation, has completed a 12,200-square-foot sublease transaction for WPX Energy at 1001 17th Street. After receiving the assignment, Savills Studley’s Denver office was able to complete the transaction in less than 90 days. Confluence Resources will now occupy a portion of the 12th floor in the heart of Downtown Denver.

“The space offered by WPX is ideal for an energy-related start-up like Confluence, and we are pleased to have completed this transaction in such a timely matter,” said Savills Studley Assistant Director Ashley Elkin, along with Savills Studley Executive Vice President and Central Region Lead Rick Schuham; who represented WPX in the transaction.

Downtown Denver sublet availability has surged to approximately 1.36 million square feet, up from just 364,929 square feet at the close of the first quarter of 2012. Contraction in in the energy market has contributed more to this sublet growth than any other sector.

“Between extensive sublease space, existing Class A availability, and continued speculative development, the tenants have no shortage of choice in Metro Denver,” said Schuham.

Located between Curtis Street and Skyline Park, 1001 17th Street is a 20-story, 655,000-square-foot Class A tower. The building is owned by Franklin Street Properties and managed by Vector Property Services. WPX Energy has approximately 90,000 square feet in additional sublease space available at 1001 17th Street.

 

 
 

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