Alterra Mountain Co. is pointing its skis to Steel House.
The ski resort owner behind the Ikon Pass is eyeing a lease at the new office building at 3100 Brighton Blvd. in Denver’s RiNo neighborhood, multiple sources tell BusinessDen.
The space would replace the company’s existing headquarters a half mile away at Zeppelin Station, where Alterra has just under 40,000 square feet. The company is expected to expand its footprint in the deal, sources say.
Alterra spokeswoman Kristin Rust said in an email that “as far as I know, no lease has been signed elsewhere.”
The 12-story, 320,000-square-foot Steel House building was completed earlier this year by Boston-based Beacon Capital Partners and Denver-based Elevation Development Group. Beacon declined to comment.
Alterra, which is privately owned and was formed in 2017, moved into Zeppelin Station upon the 4-story building’s completion by Zeppelin Development in 2018. The company’s lease runs through 2029 but includes an option to terminate early in 2026, sources say.
Alterra has signaled for years it might move. The company listed its space for sublease in 2022, but no deal was reached. In recent months, Alterra has been exploring its options. Leadership strongly considered the 16 Chestnut building behind Union Station before pivoting to focus on Steel House, sources say.
A move from Zeppelin Station would be a huge blow for the 104,000-square-foot building. It has been overseen by a receiver for a year and a half at the request of lender Wells Fargo, much to the chagrin of Zeppelin Development, which is suing Wells Fargo.
Alterra is the building’s largest tenant, and the receiver, Stapleton Group, has attempted to convince the company to stay.
“The Receiver continues to work with the leasing broker for the properties’ largest tenant to reach a potential lease amendment that would expand and extend their footprint in the building,” David Stapleton wrote in an October report.
Stapleton Group had also hired JLL to market the building for sale. But the company said in court documents Dec. 1 that it had halted those efforts after Wells Fargo sent notice that it was “withdrawing support for a receivership sale and informing the receiver that it intended to pursue a nonjudicial foreclosure.”
BusinessDen staffer Matt Geiger contributed reporting.
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