Directory publisher Dex will relocate about 1,000 employees into two new buildings in the south metro area by the end of next year.
“The current buildings we’re in are aging, and we wanted to give a nice work environment for our employees,” said Mike Truell, director for external communications at R.H. Donnelley, which owns Dex.
The buildings will house the company’s sales and marketing team and RHD Interactive, which operates , the company’s Internet Yellow Pages.
The two buildings, totaling 280,000 square feet, are Panorama Corporate Center IV in Englewood and One Lincoln Station in Lone Tree.
“They’re both transit-oriented developments within walking distance of a light-rail station,” said Jim McGrath, senior vice president at Studley, who represented Dex in the deal. “That validates what a lot of people have been talking about in terms of how important light rail is going to be.”
Dex is moving from buildings totaling 370,000 square feet at the In verness Office Park at Interstate 25 and County Line Road and another at Interstate 225 and Parker.
“They were able to gain tremendous efficiencies with new design and construction standards,” McGrath said. “This is a testament to intelligent planning.”
Panorama Corporate Center IV, 9501 E. Panorama Circle, is one of the last sites in the four-building Panorama Corporate Center complex anchored by Charles Schwab. The 137,288-square-foot building is being developed by CarrAmerica specifically for Dex.
One Lincoln Station is the first of four buildings of a 35-acre mixed-use project being developed by Westfield Development Co. and Bradbury Properties. The 150,000- square-foot building was under construction with no tenants when Dex agreed to lease it.
“This will actually drive the overall vacancy rate up since this is brand-new inventory that is not counted in the stats now, and we will be taking less space,” said McGrath, noting that the vacancy rate in the southeast suburban market is around 15 percent. “There are really no large blocks of quality space available, so we may see more of this type of deal, which would potentially drive vacancy rates up.”
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
