Leading U.S. real estate companies form joint venture to develop one of Denver’s most anticipated new office projects
DENVER. – Feb. 2, 2022 – Jordon Perlmutter & Co. and Rockefeller Group announced today a joint venture on Paradigm River North, one of the most anticipated new office developments in Denver’s vibrant River North Art District. The 200,000 square foot building, also known as 3400 Walnut Street, is expected to commence construction later this month with completion anticipated in early 2024.
While terms were not disclosed, the agreement is the result of partnership discussions between the firms over several months. The project represents the first joint venture between Jordon Perlmutter & Co. and Rockefeller Group, which have been at the forefront of U.S. real estate development for more than 70 and 90 years, respectively.
When complete, Paradigm River North will rise eight stories, with approximately 188,000 square feet of office space, and 12,000 square feet of ground-floor retail space. The project’s location and design, in the amenity-rich RiNo Art District, provides a highly accessible and vibrant workplace, capitalizing on demand for the most modern office amenities, including open-air balconies on every floor.
“We are very pleased to add Rockefeller Group to our development team for Paradigm River North,” said Jay Perlmutter, Principal of Jordon Perlmutter & Co. “We have a shared vision for the importance of location in its broadest sense, and demand for the live-work-play lifestyle that River North affords.”
“All of this made 3400 Walnut Street the perfect project to establish what we hope will be the beginning of a long and productive relationship between our firms,” said Sean Perlmutter, Partner, Acquisitions and Development for Jordon Perlmutter & Co.
“We are thrilled to forge this partnership with Jordon Perlmutter & Co.,” said Jay Despard, Senior Managing Director for Rockefeller Group’s Rocky Mountain Region. “Quality in the built environment is foundational to both of our firms. That, combined with their extensive track-record in Denver, will position Paradigm River North to be one of the most authentic, future forward new developments in the city.”
Designed by Denver-based Tryba Architects, Paradigm River North will hint at the neighborhood’s industrial past, showcasing a brick façade with large factory-style windows. The double-height lobby, 12-foot ceilings and outdoor space throughout will promote the Colorado lifestyle with views of downtown Denver and the Rocky Mountains.
River North is one of the most vibrant urban neighborhoods in the country, with its appeal rising in recent years along with Denver’s population growth. In addition to hotels and new residential offerings, the neighborhood pioneered Denver’s craft food scene, and has become one of the city’s top entertainment and cultural hubs, boasting restaurants, breweries, galleries, shops and music venues. More information about the project is available at paradigmrivernorth.com.
Leasing for the project is being led by Newmark Executive Managing Directors Jamie Gard and Jeff Castleton.
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About Jordon Perlmutter & Co.
Jordon Perlmutter & Co. brings forth vision by incorporating tradition, reliability, innovation and service as one of the foremost companies in the Rocky Mountain Region covering all aspects of real estate development in order to enhance communities and businesses in Denver and surrounding areas. The company focuses its mission on the acquisition, development, management and leasing of commercial and multi-family properties by working with both nationally recognized and entrepreneurial companies, financial institutions, families, individuals and communities. The company looks to the future in creating new and innovative projects, creating better communities while enhancing and preserving safe and attractive cities and counties. Visit jp-co.com.
About Rockefeller Group
Rockefeller Group develops, owns and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company’s portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan. Visit RockefellerGroup.com.
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