Rockies co-owner Dick Monfort (left) and Max Haynes, an aide to U.S. Senator Michael Bennet, look on as Redaptiv CEO Arvin Vohra cuts a ribbon to celebrate the opening of the Redaptiv office in McGregor Square. (Courtesy of Redaptive)

A Denver-based technology and energy company has more than doubled its footprint as it moves out of WeWork.

Redaptive was founded in 2015, moved to Denver in 2019 and officially made the city its headquarters last year. That decision was reinforced Wednesday when it opened a new 25,000-square-foot office — the entire eighth floor — in McGregor Square.

The company, which helps large commercial and industrial companies reduce their energy costs, had grown from 17 to 100 employees in Denver in the last one to two years and was therefore forced to look for new premises.

Jim Benson, the company’s director of marketing and communications, said Redaptive previously occupied less than 10,000 square feet of space at WeWork at 1615 Platte Street.

“We climbed over people (in our old premises),” he said.

Redaptive subleases the space from Red Canary, a cybersecurity company. Benson said the company has 46 months left on its lease, with an option to extend.

The office building at McGregor Square, seen from 19th Street. (BusinessDen file)

“We came to this McGregor office and we think we can use it for our recruiting,” Benson said. “It’s a great place. When I look out the window, I can see the mountains. When I walk to the other side, I see Coors Field.”

The new office is being sublet by Red Canary, a cybersecurity company. Benson said the lease has 46 months left to run, with an option to renew after it expires.

Redaptive was represented by CBRE brokers and associates Ryan Link, Harrison Archer, Rob Link, Kiana Akina and Amelia St. John. The entire process was “blazing fast,” Link said, taking just six months.

“Timing was of the utmost importance… we needed a space ready to go,” Link said.

The broker said Redaptive’s WeWork lease was expiring and that the company was avoiding the “mid-CBD” and instead looking at neighborhoods like Union Station, LoDo, Platte Street and RiNo.

“They had a building on Platte Street,” Link said. “They circled it and said, ‘The closer to here the better.'”

McGregor Square – which includes a hotel, residential and office building with retail space throughout the project – was developed by a group that includes Rockies owner Dick Monfort. It was completed in early 2021 and the office space was fully rented until spring next year.

Patrick Walsh, CEO of McGregor Square, told BusinessDen that Red Canary continues to occupy some space on the ninth floor. The company has leased about 43,000 square feet.

The building still has some vacant space – 13,000 square feet on the sixth floor is available for sublease. Walsh said he is “very close” to finding a tenant for it.

“People are slowly returning to the office, which is great for our retail industry,” he said.

Redaptive generates revenue “in five different ways,” Benson said. These include loans and meters for companies looking to improve their energy infrastructure, as well as selling its software to companies looking to better monitor their energy use. Major customers include GAP, Goodyear and T-Mobile.