Denver’s River North Arts District (RiNo) has seen a surge in office development in recent years, with Industry Denver being one of the first large office projects in the area. However, the building faced financial difficulties and went into receivership after failing to pay off loans. Despite this, investor Ben Woolf of Conscience Bay Company remains optimistic about RiNo’s potential.
Conscience Bay Company recently acquired Industry Denver and renamed it Fabrica RiNo for $19 million. The firm plans to focus on long-term ownership and a hospitality-focused approach, catering to creative industries looking for unique office spaces. The building already houses various businesses, including Core Power Yoga and Snooze A.M., and plans to attract more tenants with amenities like test kitchens and a new break area.
While RiNo currently has the highest office vacancy rate in the Denver metro area, the neighborhood continues to see new construction projects. Investors like Woolf believe in the long-term potential of the area, despite challenges posed by the pandemic and oversupply of office space. As companies navigate remote and hybrid work models, RiNo’s mix of office, dining, and living options make it an attractive location for businesses looking for Class A office spaces.
As the market continues to evolve, RiNo’s future remains promising. With a mix of new developments and established businesses, the neighborhood is poised to recover from its current vacancy rates and become a vibrant office hub in Denver. Woolf and Conscience Bay Company remain committed to revitalizing Fabrica RiNo and contributing to the growth of the area’s office market.
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Photo credit denvergazette.com
