Alterra eyes HQ move within Denver’s RiNo neighborhood

Alterra Mountain Co. Eyeing Lease at Steel House in Denver’s RiNo Neighborhood

Alterra Mountain Co., the ski resort owner behind the Ikon Pass, is reportedly considering a lease at the new office building at 3100 Brighton Blvd. in Denver’s RiNo neighborhood, according to sources familiar with the matter.

The potential move would see Alterra relocating from its current headquarters at Zeppelin Station, located half a mile away, where the company currently occupies just under 40,000 square feet. The new space at Steel House is expected to offer an expanded footprint for Alterra, although a lease agreement has not been finalized yet, as per Alterra spokeswoman Kristin Rust.

The 12-story, 320,000-square-foot Steel House building was recently completed by Beacon Capital Partners and Elevation Development Group. Alterra, a privately owned company established in 2017, initially moved into Zeppelin Station in 2018, and its current lease runs through 2029 with an option to terminate early in 2026.

Although Alterra has been exploring relocation options for some time, including listing its space for sublease in 2022, recent developments have seen the company focusing on Steel House after considering other locations like the 16 Chestnut building. This potential move would have significant implications for Zeppelin Station, which has been under receivership for the past year and a half at the request of lender Wells Fargo.

As the largest tenant in the building, Alterra’s decision to move would impact the ongoing legal battle between Zeppelin Development and Wells Fargo. The receiver, Stapleton Group, has been working to persuade Alterra to stay, while also exploring the possibility of selling the building. However, Wells Fargo’s recent decision to pursue nonjudicial foreclosure has halted these efforts.