The public speaking and leadership nonprofit Toastmasters International announced plans Monday to buy the property just north of CH2M’s headquarters in Englewood.
Toastmasters International is buying the building from New York-based Columbia Property Trust Inc. for $19.5 million. The nonprofit operates a worldwide network of clubs and plans to complete its move from California to Colorado in 2018.
"We currently employ 168 people and anticipate the new world headquarters will employ approximately the same number," spokesman Dennis Olson said.
Earlier this year, Columbia Property Trust sold the three buildings CH2M leases for $122 million. The real estate investment firm said it plans to focus on properties in central business districts going forward.
Toastmasters International plans to lease at least part of the four-story, 106,575-square-foot building, according to a news release. The nonprofit is moving to find a cheaper workforce and business environment than California offers. It's called Rancho Santa Margarita — about 60 miles southeast of Los Angeles — home for the past 26 years.
"Denver is home to an affordable and talented workforce in a business environment that is more cost-efficient than California. As a nonprofit organization that strives to maximize resources, we're often challenged to do more with less. It's critical for us to be competitive in the marketplace and able to attract and retain employees," Toastmasters CEO Daniel Rex said in a statement.
Toastmasters International said the new space is nearly double the size of its the current world headquarters and will be the right spot for the nonprofit for the next 25 to 30 years.
Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
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