Beacon, Elevation break ground on 12-story office building

There’s another office building under construction in Rino.

Boston-based Beacon Capital Partners and Denver-based Elevation Development Group broke ground without fanfare last week on Steel House at 3100 Brighton Blvd.

The 12- story building is expected to be completed in 2024.

Steel House becomes the fourth office building under construction in Rino.

The Current, at 3615 Delgany St., is expected to be completed in the coming weeks by Seattlebased Schnitzer West. One tenant has been announced: law firm Moye White.

T3, at 3500 Blake St., is being developed by Houston-based Hines, Chicago-based Mccaffery Investments and Canadian investment firm Ivanhoe Cambridge. No leases have been announced for the project expected to deliver in the fourth quarter.

Paradigm, at 3400 Walnut St., is expected to be completed in early 2024 by Denverbased Jordon Perlmutter & Co. and New York-based Rockefeller Group. Law firm Davis Graham & Stubbs has leased space.

At the same time, other office buildings completed relatively recently still have plenty of space available. Rev360, at 3600 Brighton Blvd., is completely vacant a year and a half after completion. Hub North, completed in 2020, also has significant vacancy.

Elsewhere in Denver, there’s one office tower under construction downtown, and four smaller office buildings going up in Cherry Creek.

Steel House will be about 300,000 square feet, with floor plates up to 41,000 square feet, according to the project website. New York’s Morris Adjmi Architects and Denver’s Open Studio Architecture are behind the building’s “industrial biophilic design.” Tenant amenities will include a 7,500-square-foot, twostory gym and a 13,000-squarefoot deck, per the website. The building will have about 12,000 square feet of ground-floor retail space.

Elevation and Beacon purchased the 1.85-acre development site, formerly home to a plumbing supply shop in 2019 for $18.7 million.

Beacon is a major player in the Denver office market.

This month, the firm purchased the office space at Union Tower West near Union Station. Elevation, meanwhile, has developed a mix of residential and office projects in Denver. The firm is also constructing an office building at Third and University in Cherry Creek.

Elevation and Beacon have worked together in the past. Both played a role in the development of The Hub office building at 3601 Walnut St. in Rino.