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Feb. 6, 2013

Johns Manville Renews Lease with Crescent Real Estate to Keep World Headquarters in Downtown Denver

By Gabriel Circiog, Associate Editor

Johns Manville has renewed its lease and remains the anchor tenant and namesake for Johns Manville Plaza in downtown Denver. Crescent Real Estate Holdings LLC recently announced the deal for 118,865 square feet, which keeps Johns Manville’s world headquarters in the area for at least another 12 years.

“The decision of Johns Manville to continue to host their world headquarters in downtown Denver is very significant as it represents the retention of approximately 400 jobs,” said Tami Door, president and CEO of the Downtown Denver Partnership. “As with a growing number of companies, Johns Manville recognizes the benefits of having their headquarters in downtown Denver. They are an important member of the Downtown business community, and their continued tenure is incredibly impactful and positive for our city center.”

According to the Downtown Denver Partnership, around 112,000 people work and 65,000 residents live in Denver City Center neighborhoods, and the Johns Manville deal gives a boost to downtown Denver’s claim as the hub of the region.

President and CEO of Johns Manville, Mary Rhinehart, said: “We are excited to keep our world headquarters in Downtown Denver. The city of Denver, the Downtown Denver Partnership and Crescent Real Estate worked cooperatively to help us remain an anchor company in downtown Denver.” The company also has a 325,000-square-foot technical center southwest of Denver, which will remain in place.

Johns Manville Plaza is part of Crescent’s Denver City Center located in the center of the 17th Street Financial District. The properties at Denver City Center also include 707 17th St. and the Marriott Denver City Center. The buildings share Denver’s largest outdoor plaza, which features outdoor sitting areas and numerous green spaces. The retail area and the plaza are scheduled to undergo renovations this spring, which aim to add 12,000 square feet of new restaurant, retail and entertainment options.

Johns Manville was represented by Sam Depizzol and Greg Holm of CBRE. Basham represented the owner MS Crescent Two SPV LLC in the lease transactions.

Photo Courtesy of: www.crescent.com

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