Xcel Energy confirms headquarters move to RiNo

Xcel Energy officials Wednesday confirmed the company will move from its longtime home at 1800 Larimer St. to a brand new office building in Denver's trendy River North (RiNo) neighborhood. 

The move was also confirmed by Ivanhoé Cambridge, Hines and McCaffery. 

The Denver Gazette reported the move in October. 

Xcel's new six-story headquarters will be at T3 RiNo, where it will lease 220,172 square feet of office space and be the building's sole office tenant.

Builders "topped out" construction in April and advertised a "late 2023" opening for the building at 3500 Black St. Brokers said in a news release Xcel will be the "largest office tenant in the RiNo submarket." 

The company, the largest electric and natural gas energy provider in the state, is expected to move approximately 1,200 employees there in 2025. It serves 1.6 million electric customers, and 1.5 million natural gas customers, according to Xcel.

A company spokesperson told The Denver Gazette the move could "reduce the company’s annual operational costs by an estimated $2.5 million."

“T3 RiNo will provide several benefits important to our coworkers including more parking, proximity to the RTD light rail system, greater security and more," said Robert Kenney, president of Xcel Energy-Colorado, in the release. "Being in a single-tenant building allows us to design collaborative workspaces for increasingly interconnected teams. We’re committed to staying in the Metro Denver area as part of our commitment to our communities, service areas and stakeholders. We look forward to contributing to the fabric of RiNo’s growing community.”

The "T3" stands for timber, transit and technology, according to the Hines website. 

“We’re pleased to welcome Xcel Energy-Colorado as the single tenant of T3 RiNo — the next evolution of workplace that combines a creative and hospitality-driven customer experience with state-of-the-art amenities in a vibrant neighborhood,” said Charlie Musgrave, vice president of U.S. Office and Life Science Leasing at Ivanhoé Cambridge, in a release.

“As one of the most environmentally friendly developments in the City of Denver to date, T3 RiNo is a natural fit for a tenant customer who shares our commitment to prioritizing sustainability in a tangible way. No doubt, this milestone lease exemplifies the power of alignment in delivering the best match for a high-quality tenant with strong convictions.”

The building was designed by Pickard Chilton Architects and DLR Group. Features include 5,000 square feet of amenities and conference room space, private outdoor terraces on each floor, a fitness center and 18,500 square feet of ground-floor retail space. 

The process was described as a "competitive bid process," according to the release. Xcel was represented by Rick Schuham and Brendan Fisher of Savillis. The developers were represented by JLL's James Roupp, John Beason, Don Misner and Maddy Stevenson. 

“T3 RiNo reflects a differentiated and innovative workplace experience, and we’re proud to welcome Xcel Energy and their employees to Denver’s new office environment,” said Chris Crawford, senior managing director and city head of the Denver office of Hines, in a release. “Designed to enhance creativity and collaboration with sustainability at the forefront, T3 RiNo aligns with Xcel Energy’s commitment to its employees and the environment.”