Mountain View
Denver Business Journal
Inspirato ousts CEO, lays off 15% of workforce
A Denver-based luxury travel company that has been struggling for months to maintain its market value has named a new CEO and chairman who vowed on Wednesday to redirect the company toward profitability.<\p> Payam Zamani, founder and CEO of private equity firm One Planet, pledged a $10 million cash infusion from the firm and unveiled plans to cut another 15% of the company's workforce.<\p>
Union Station to welcome new fast-casual eatery, café
A familiar Denver eatery and café is opening its third or fourth location in the Mile High City. <\p> Olive & Finch, known for its coffee-shop feel and fresh pastries, will open a restaurant at Union Station early next year. <\p>
Law firm grabs Moye White's former space in RiNo
Most of the attorneys who were part of the now-dissolved Denver law firm Moye White didn't have to look far for their next office space.<\p> Phoenix-based Fennemore, which struck a deal with Moye White in April that disbanded the firm and absorbed most of its employees, has taken over the top two floors of The Current — the same space Moye White had moved into less than a year ago.<\p>
Apartment renters seeing price relief as landlords sweeten deals
Rental rates on some apartment types slipped in July compared to the same time a year prior, the first time that's occurred since June 2020 — the height of the Covid-19 pandemic.<\p> Median asking rents for studios and one-bedroom apartments fell 0.1%, two-bedroom apartments fell 0.3% and units with three or more bedrooms fell 2.4% between July 2023 and July 2024, according to Redfin Corp. (Nasdaq: RDFN). <\p>
Douglas County funding new business incentives
Douglas County has pledged an unlimited amount of money to lure more businesses to its borders, announcing its first incentive package for prospective businesses.<\p> The initiative, approved by county commissioners Monday, seeks to reduce administrative costs and burdens of starting or expanding a company in south Denver-metro communities.<\p>
Land where apartments proposed by National Western Center sold
Five land parcels where a 200-unit apartment building has been proposed in Denver’s Globeville neighborhood, north of downtown, recently traded hands.<\p> 51 Emerson LLC purchased the properties, spanning 5107 to 5135 Emerson St., from El Principito Properties LLC in late July for $3.8 million, according to public records.<\p>
131 Colorado companies rank among the Inc. 5000 fastest-growing
Inc. Magazine included 131 Colorado-based companies on its list of the top 5,000 fastest-growing private U.S. companies.<\p> The number of Colorado companies that made this year’s list is down slightly from last year’s 134 and down from the 146 that made the list in 2022.<\p>
Flooring company enters Ch. 11, will close some Colorado stores
LL Flooring Holdings Inc., the Richmond, Virginia company formerly known as Lumber Liquidators, filed for Chapter 11 bankruptcy protection this week and is closing 94 stores, two of them in the Denver-metro area.<\p> The company (NYSE: LL) said it is in active negotiations with “multiple bidders” to find a buyer in a "going concern sale" and hopes to seek court approval for a sale in the first few weeks of its bankruptcy proceedings. It is saddled with $110 million in long-term debt.<\p>
Software company moves HQ to Denver Tech Center
A technology company with a long history in Colorado is moving its headquarters from an office near Centennial Airport to the Denver Tech Center. <\p> Software-as-a-service company Accuris signed a seven-year, approximately 21,000-square-foot lease at 7979 E. Tufts Ave., where the company will occupy the entire third floor.<\p>
Denver mayor's affordable housing tax hike scrutinized, moves forward
Several Denver City Council members aren’t comfortable with a local sales tax hike proposed by Mayor Mike Johnston to help fund affordable housing, and it’s not yet clear whether the initiative will appear on November ballots.<\p> Councilors expressed concern during a meeting Monday night about the proposal’s rushed nature and unanswered questions and then spent two hours working through 12 amendments altering the measure, which would increase Denver’s sales tax by half a percent if approved by city voters.<\p>
Chicago hardware co. to downsize Denver workforce
A major hardware wholesaler based in Chicago will lay off 49 Denver employees as part of a supply chain revamp.<\p> True Value plans to stop servicing retailers from its Denver distribution center at 11275 East 40th Ave., the company told state regulators in a Worker Adjustment and Retraining Notification Act (WARN) notice to the Colorado Department of Labor & Employment.<\p>
PepsiCo timeline slows for giant plant near DIA
Construction at PepsiCo Inc.’s (Nasdaq: PEP) 1.2 million-square-foot bottling plant near Denver International Airport is well underway, but its opening has been delayed about two years. <\p> The global beverage maker’s PepsiCo Beverages North America (PBNA) facility is expected to open in the summer of 2025, Katie Ojennes, operations leader at PepsiCo Beverages North America’s West Division, told the Denver Business Journal via email. <\p>
Companies are spending billions for an employee benefit not being used
Workers are leaving the equivalent of hundreds of billions of dollars a year on the table in the form of unused vacation days, and employers increasingly are a paying a price for those decisions.<\p> Financial firm Sorbet surveyed 1,500 American workers over the age of 21 and found that 62% of those employees didn't use all their paid vacation time last year. That's up from 57% who didn't use all their available time off in 2022 and nearly double the rate from four years earlier, according to Sorbet. <\p>
The National Observer: Watchers warn of vicious circle in U.S. economy
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. We're getting into the reason many companies are laying off more workers than they might need to, a solar cell manufacturer's new $1 billion project, and a higher education company's big bet on remote and hybrid learning. But first, let's look at concerns by Wells Fargo economists about a vicious cycle downturn in the U.S. economy.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. <\p>
Famed Swiss watch co. opens first Colorado retail store
A watch company known for its bright colors and funky designs has set up shop in the Cherry Creek Shopping Center.<\p> Swatch, a Switzerland brand, is leasing a 1,400-square-foot retail space at 3000 E. 1st Ave., Suite 176. The store is the brand's first in Colorado.<\p>
Real estate giant spends $77M for luxury apartments
A newly constructed, 202-unit luxury multifamily development in the west Denver-metro area has been purchased for $77 million by a publicly traded real estate investment trust. <\p> The NOVEL White Fence Farm at 6273 W. Jewell Ave., in Lakewood, was purchased by mogul Sam Zell's Chicago-based Equity Residential, according to an announcement by the Denver-based offices of real estate brokerage Newmark Group Inc.<\p>
Denver’s top real estate deals, dealmakers of Q2
The second quarter of 2024 proved a steady one steady for Denver’s commercial real estate brokers.<\p> Industrial and office tenants signed larger leases last quarter compared to the top deals in the second quarter of 2023, the latest market data compiled by the Denver Business Journal shows. Top retail leases, however, dropped slightly compared to leasing activity reported last summer.<\p>
Aurora apartment community sells for $70.5M
A Denver-based real estate investment firm has acquired an apartment community in Aurora, expanding the amount of workforce housing communities it owns. <\p> BMC Investments announced the purchase of the multifamily property of Advenir Del Arte, 151 S. Joliet Circle, on Thursday. <\p>
UMB merger could net HTLF CEO $11M
A Denver-based CEO could gain $11 million from his company's proposed merger with UMB Financial Corp., per the details of an agreement approved by shareholders this week.<\p> Bruce Lee, the CEO of Denver-based Heartland Financial USA Inc. (Nasdaq: HTLF), will gain about $2.5 million from his restricted and performance stock units and an another $8.5 million if he is terminated as part of a merger between Kansas City-based UMB and HTLF. <\p>
Denver Business Journal
4K+
Posts
982K+
Views
The Denver region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
It’s essential to note our commitment to transparency:
Our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. As a platform hosting over 100,000 pieces of content published daily, we cannot pre-vet content, but we strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation.