The Travelers Indemnity Company | Regional Headquarters Facility

Property Description

The property is a three-story office building that serves as a regional headquarters facility for The Travelers Indemnity Company ("Travelers Indemnity"), which is the largest of the six subsidiaries that comprise The Travelers Companies, Inc. (NYSE: TRV). The property was originally constructed in 1982 and has been occupied by Travelers Indemnity since 2005. The property is ideally situated within the Denver Technological Center master-planned community, a mature neighborhood with substantial amenities, and the second largest office submarket behind the Central Business District.

Business Essential Attributes

The regional headquarters facility in Denver is the third largest office location for The Travelers Indemnity Company, behind their corporate headquarters in Hartford, Connecticut and another regional headquarters facility in Dallas, Texas. The property houses over 500 essential personnel that perform a full complement of functions critical to the company's business operations including claims processing, marketing services and legal review. Given the strategic importance of the Denver location relative to Travelers Indemnity's overall geographic footprint, the company recently secured their long-term occupancy at the property for an additional twelve year term as part of the asset acquisition.  

Additional Property Information

The property has undergone over $5 million in capital improvements during Travelers Indemnity's occupancy period including the addition of a new two-level parking garage with 155 covered stalls, as well as the renovation of the interior atrium area. These enhancements, coupled with an economical purchase basis of $123 per square foot, well below replacement cost, afford the REIT the ability to offer attractive rental rates.  

The Travelers Indemnity Company | Regional Headquarters Facility

Greenwood Village, Colorado

PROPERTY AT A GLANCE

Property Type: Office
Square Footage: 130,998

Lease Expiration: June 30, 2024
Renewal Option(s): Two 5-year options
Rent Increase(s): July 1, 2013 - $0.50 annually thru 2018 July 1, 2019 - 3% annually
Tenant: The Travelers Indemnity Company
Website: www.travelers.com