Tenant Improvement: Xcite Media

The Tenant

Xcite Media is a media/marketing agency with a variety of services, including web development, SEO, social media marketing, video production and advertising. They focus their services on small and medium companies and aim to bring their clients overall success online. They work with a variety of partners and pride themselves on their transparency and focus on client success. 

The Project

Xcite Media signed a lease as a new tenant at Stanford I, a 273,000 square foot office building owned by Alturas Capital Partners in Denver, CO, in January of 2022. This media brand was to occupy a 3,113 square feet commercial office suite for a team of about three to five people. They wanted to create a space that reflected their brand ideals and would work best for their business. They were looking to incorporate open spaces, inviting seating areas, a kitchen island workspace and a specific flow of traffic.  

The Process

At the time,  Xcite Media’s future space  was in the middle of being renovated as a spec suite: a vacant space used by the landlord or available to potential tenants. Because the project had already begun, construction materials were already ordered, and delays to construction materials being delivered made ordering new material time consuming. Alturas Capital Partners property managers met often with the contractor, EJCM, and the new tenant at the beginning of this process to work through the transition between the spec suite project to the tenant improvement project. Xcite Media worked with Alturas Capital Partners to get what they needed for their suite and were able to work with the contractors to create something using what they had already constructed/ordered. During this time, Xcite media was able to occupy a temporary suite just down the hall from their project, so they could check in on the project and stay up to date on the status. 

The Result

This project is a great example of the partnership between tenants and landlords. Alturas Capital Partners was able to work with Xcite to create a space that the tenant was happy with. This included adding features outside the building standard, including a large, free-standing kitchen island. At the same time, Xcite was able to work with Alturas Capital Partners and adapt to some of the plans that had already been made for the space. The project was finished at the end of April 2022. 

Upon the completion of this TI project, Mike Papi from Xcite Media said, “The Xcite group worked with Alturas on a complete redesign of our new office space. Alturas was responsive and kept us informed the entire process. We could not be more excited with the improvements and to get our employees back to the office with the improvements made to the office.”

Tanya Pomirchy, property manager of Stanford I said, “Our purpose is to build partnerships with the tenants. We want them to feel supported and heard. This project was sticky at the beginning, but the level of professionalism and consideration provided by the Xcite Media team made it an enjoyable process where both parties truly benefited.”

About Alturas Capital Partners

Alturas Capital Partners is a real estate investment and operating company based in Boise, Idaho. Alturas owns and operates real estate throughout the Western United States, with an emphasis on the Intermountain West and Inland Northwest. The company has been built on long-term partnerships with investors, brokers, and tenants, and its mission is to provide value to these partners. The company acquired its first property in 2015 and has grown significantly to approximately $500 million in assets under management. Alturas Capital Partners is currently seeking to acquire additional assets in the Western United States.