Schwab starts work on third office building
Construction of garage also ahead of schedule
Charles Schwab is moving forward with construction on its third, five-story office building and parking garage ahead of its original schedule.
Originally targeted as part of a second phase of development at the Lone Tree campus on Lincoln Avenue, Schwab said it can save money on construction by speeding the construction schedule. The 187,500-square-foot third building will be complete by spring 2015.
“It will have the same square footage as each of the other two buildings and similar footprint and design,” said Schwab spokeswoman Sarah Bulgatz. “Whether or not it will house a comparable number of Schwab employees is still to be determined.”
The 1,233-car, five-level second parking garage could be finished by late 2014.
In February, Schwab announced it will move almost half of its San Francisco-based workforce to other national Schwab offices; some of them likely will come to Lone Tree. About 1,000 of the 2,200 California workers will be relocated in the next three to five years.
Work on the first two large buildings, which combined will house about 2,200 employees, is in the home stretch. Schwab anticipates moving some of its Denver-area employees - now scattered among three leased buildings - to Lone Tree late this summer.
Its retail branch building, a two-story structure at the corner of Park Meadows Drive and Lincoln Avenue, is set to open in early May. Schwab broke ground on the Lone Tree campus in May 10, 2013.
“We're very excited they've moved up their schedule for the third building,” said Lone Tree Mayor Jim Gunning. “I think it shows continued confidence in the Lone Tree community and their commitment to our community.”
It also shows that “there's plenty of room for expansion and corporate commitment,” he said.
The Fortune 500 financial securities firm, based in San Francisco, broke ground on its Lone Tree campus on May 10, 2013.
The first phase of construction includes a 6,500-square-foot cafeteria, a building with a garden rooftop, outdoor amphitheater, parking garage with 18 electric charging stations, bike lockers, connections to area bike paths and walking trails, and interior walkways connecting the buildings.
The company's 76-year-old namesake leader started the San Francisco-based company 40 years ago with four employees. It now employs nearly 15,000 people and serves 8.2 million client brokerage accounts.
At build-out, the campus could house 4,000 to 5,000 employees.