Johns Manville is working on a deal to relocate its headquarters from downtown Denver to Greenwood Village.
The company leases 166,000 square feet on seven floors in Johns Manville Plaza, 717 17th St., as well as research and development space in the Ken Caryl Ranch. It plans to consolidate its operations in a 306,000-square-foot, two-building complex on 11.4 acres across from the Landmark luxury condominium project, according to people familiar with the company’s plans.
If the project goes forward, about 1,400 people will work in the buildings when they open in January 2014.
Johns Manville spokeswoman Melody Dunbar declined to comment, except to confirm the company is negotiating with Greenwood Village developer John Madden.
Madden declined to comment because a deal has not been completed.
Johns Manville, a Berkshire Hathaway company with about $2.5 billion in annual sales, manufactures and markets products for building insulation, mechanical insulation, commercial roofing and roof insulation, as well as fibers and other materials for commercial, industrial and residential applications.
The company serves a variety of industries, including aerospace, automotive and transportation, air handling, appliance, HVAC, pipe and equipment, filtration, waterproofing, building, flooring, interiors and wind energy.
Madden is buying the property from the Federal Deposit Insurance Corp., which acquired it when it seized FirsTier Bank a year go. FirsTier had foreclosed on the property after developer Zack Davidson defaulted on his $7 million loan.
Davidson, who developed the Landmark and Meridian condo buildings across the street, had planned to build the European Village on the site, which would have included cobblestone streets, granite curbs and manor homes with brick facades of Georgian architecture.
But as the economy faltered, so did the Landmark project, which landed in bankruptcy court in 2009. The European Village was not included in the bankruptcy.
However, as a means of funding public improvements on the site, the Marin Metropolitan District was created in 2008. The district issued $30 million in bonds, which were backed by property taxes to be paid by residents of the Landmark and Meridian towers, as well as the homes never built in the European Village.
Though Davidson had planned to build residences, the site’s zoning allows office buildings to be built. Madden will still have to get city approval for a new site plan, said Jim Sanderson, Greenwood Village city manager.
If Johns Manville moves to Greenwood Village, it shouldn’t take more than 18 months for the owner of its current building to backfill the space, said Tom Lee, executive managing director of Newmark Knight Frank Frederick Ross.
“It’s a very attractive big block of space, and there aren’t that many big blocks of space downtown,” Lee said.
Building owner Crescent Real Estate plans to make improvements to the building, as well as the building the Marriott occupies, that will make it more attractive to new users, said Bruce Basham, vice president of the company.
“The buildings are getting older and and haven’t been upgraded,” Basham said.
Lee also said that an office development across from the Landmark is positive.
“It will be great for the city of Greenwood Village for increasing the tax base, and it upgrades the landscape in that neighborhood,” he said.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
