$50 million expansion of Zeppelin’s Taxi project underway in RiNo

September 09, 2016 / Posted in Condos

Zeppelin Development is at it again in RiNo, this time building a $50 million, 140,000-square-foot office building called Flight that will serve as the latest expansion of its Taxi development.

Boa Technology Inc., a designer and manufacturer of a dial closure system that serves as an alternative to shoelaces on ski boots, golf cleats and several other types of sports footwear, will be the primary tenant in the new building.

Zeppelin’s latest development, an office project called Flight, will primarily house Boa Technology Inc.
Enlarge
Zeppelin’s latest development, an office project called Flight, will primarily house Boa… more

COURTESY | ZEPPELIN DEVELOPMENT

Boa moved into the first iteration of Taxi in 2012, but has grown beyond what its current 36,000-square-foot space can hold. Once Flight is complete in September 2017, it will move into the first two floors, taking up 100,000 square feet. The remaining 40,000 square feet are still vacant.

Boa employs 143 people in Denver, its only U.S. office, and has plans to add more personnel, but about half of its space will be dedicated to product development, said Merle McCreery, Boa CFO.

The ground floor of Flight will be specifically built for Boa to produce prototypes of its products, said Kyle Zeppelin of Zeppelin Development. Boa’s manufacturing takes place in China.

Boa employs about 65 people internationally and has experienced revenue growth of about 30 percent compounded over the last three years, McCreery said. The company was founded in Steamboat Springs in 1998, but moved to Denver and began outfitting elite athletes with its closure system. Two-thirds of the riders in the Tour de France were wearing Boa closures on their shoes during this year’s ride, McCreery said.

Flight is Zeppelin’s ninth project in its Taxi development and its 12th in RiNo, where the company owns 28 acres. Boa’s growth is a prime example of what the developer wants for the area, Zeppelin said.

“Boa shares in our values of collaboration, community and humanity as the core of a successful and growing entrepreneurial business. They are an integral part of the culture at Taxi, and by commissioning a building that harnesses these principles to specifically meet their needs, we’re ensuring a thriving partnership for many more years to come – with a homegrown, Denver success story that we’ve watched take form under our roof at Taxi,” Zeppelin said.

Dynia Architects and GKK Works are the architects on the project, with Vertix Builders as the general contractor.

http://www.bizjournals.com/denver/blog/real_deals/2016/09/50-million-expansion-of-zeppelins-taxi-project.html