Scottrade purchases operations facility in Westminster

Scottrade, a leading branch-supported online investing firm, announced it has purchased a 204,000-square-foot office building in Westmoor Technology Park in Westminster. The property, purchased from CB Richard Ellis Investors, LLC, will accommodate the growing needs of the firm.

The four-story facility at 10955 Westmoor Drive is located in the northwest submarket of Denver and was the largest office sale in the metropolitan area in the fourth quarter of 2009. The building will serve as a secondary business operations center housing additional operations, information technology and National Service Center associates.

"Westminster is a thriving community with a talented pool of workers, making it the ideal location for Scottrade’s business expansion," said Scottrade founder and CEO Rodger Riney. "As we expand our national branch office network and the number of customers we serve continues to grow, it is necessary for Scottrade to grow outside of the St. Louis area. We are excited to be a part of the greater Denver community."

As part of the decision to move into the area, the Westminster City Council is scheduled to consider an assistance package during its Monday meeting. In addition, officials from Jefferson County, and the State of Colorado will also be considering incentive packages.

"The Colorado Office of Economic Development, the Jefferson Economic Council and the City of Westminster Economic Development Office have been great to work with and we appreciate their support in this expansion," Riney said. "We look forward to growing our business in Westminster."

The firm, named last week to FORTUNE’s 2010 "Best Companies to Work For" List for the third consecutive time, plans to hire 285 new associates in the next five years and will be posting these positions in the coming weeks at www.scottrade.jobs. The average wage for these positions will exceed 110% of Jefferson County’s average wage and include generous medical benefits.

"Colorado continues to retain and attract new, quality jobs despite the current economic downturn," Colorado Gov. Bill Ritter said. "I am very pleased that Scottrade will be increasing their presence in Westminster through the addition of hundreds of new jobs. Scottrade’s decision demonstrates not only the attractiveness of Colorado as a place to do business, but also the strong working relationship among state, regional and local officials in attracting new business."

Westminster Mayor Nancy McNally echoed Ritter’s sentiments.

"We look forward to continuing to have Scottrade as a community partner and working with them as they expand," McNally said. "The retention and expansion of Scottrade in the City of Westminster will bolster our growing IT and financial services sectors."

Jones Lang LaSalle’s Todd Roebken and Brady Alshouse represented Scottrade in the purchase of the Westmoor Park building. Scottrade will occupy 40,000 square feet initially and expand into more of the building’s space as needed. 

"Jones Lang LaSalle was able to help Scottrade identify and purchase a premier Class A building in one of Northwest Denver’s premier office parks," Roebken said. "The current real estate market conditions provided Scottrade with a great opportunity to expand its operations in Westminster."

Scottrade’s Colorado branch locations include two in Denver on 17th Street South and on University Boulevard as well as in Greenwood Village, Westminster, Aurora, Littleton, Fort Collins, Boulder and two locations in Colorado Springs. The firm has more than 3,000 associates nationwide.