23,500 sq. ft.
Rightsizing after M&A Activity
Since the inception of their first U.S. Headquarters in San Diego, CA, the leadership group has had their eyes set on Colorado. After much thought, and many trips out to experience what the cities had to offer, it was decided that Golden was the perfect spot for the company’s new headquarters. The location offers immediate access to countless trail systems along the front range and easy access to local mountain resorts, as well as to Utah, where many industry events are often held in the summer and fall seasons.
The biggest challenge faced early on was the extremely low vacancy in Golden, especially for the type of real estate product they were after. The location selected was a new development by St. John Properties on the Northeast corner of I-70 and C470 with a showroom facing 470 at the base of the mountain range. Cresa helped Commencal compare three, five and seven-year lease options proposed by the landlord. Based on Commencal’s desire to expand in the Colorado market over the coming years, the desire to make a statement with a unique, modern showroom space, a five-year lease proved to be the best option. This allowed the company to utilize more of what the landlord was willing to contribute to the cost of the showroom and it gave them the flexibility to expand or extend their term come 2023.