Ricardo Baca, founder of the public relations firm Grasslands, has leased his building located at 100 N. Santa Fe Drive to coworking company Switchyards. This move comes as Grasslands has downsized its local staff due to layoffs and the hiring of employees based outside Colorado. Baca will soon transition his firm’s operations to the new coworking space, where he and his four remaining local employees will be members.
Switchyards, which opened its first location in 2019, has rapidly expanded and now boasts 7,000 members across 30 sites in ten cities. The coworking space made its Denver debut in April 2023 and recently opened another location at 3030 Downing Street. Members of Switchyards enjoy 24/7 access to the facilities, which include internet, private rooms, and coffee sourced from local brands, all for a monthly fee of $100.
Baca expressed enthusiasm about the new tenant, stating, “We really love what they’ve done in LoHi and Five Points, the whole strategy of surrounding Denver with these beautiful workclubs.” His decision to lease the building aligns with the changing landscape of work, especially following a significant increase in remote employment.
The building, which Baca and his wife, Melana, purchased in late 2019 for $1.2 million, came at a time when they were unaware of the impending challenges posed by the pandemic. Over the past few years, Grasslands has faced difficulties, including losing three clients in April due to concerns over tariffs. Baca laid off about one-third of his staff during this time, leading to a workforce of nine, with four employees based outside the state.
With the lease to Switchyards, Baca sees an opportunity to simplify his business model. “We no longer need the 5,000 square feet to do what we do,” he noted, highlighting the shift in his company’s operational needs. Grasslands serves a diverse clientele, including notable names like Illegal Pete’s, edible-maker Flower Union, and Naropa University in Boulder.
Baca described the current economic climate as challenging, particularly for businesses focused on cannabis and related sectors. He remarked, “This is our first big down cycle between tariffs and the federal government’s take on drug policy.” Despite these hurdles, he maintains that companies should continue investing in marketing, referencing Kellogg’s strategy during the Great Depression as a historical example of the benefits of maintaining brand visibility during tough times.
Looking ahead, Baca is preparing for the MJBizCon in December, a key event in the marijuana industry, and has already secured venues for two different events during the conference. He believes that every challenge presents an opportunity for growth, stating, “Every challenge is an opportunity to grow yourself.”
Baca had considered leasing the Grasslands building for over a year before Switchyards submitted a letter of intent just six days after he began marketing it. The transaction was facilitated by John Livaditis of Axio Commercial for Baca, while Kevin Selig of Foundry Commercial and Tanner Mason of Benchmark Commercial represented Switchyards.
This transition marks a significant step for Baca as he continues to navigate the evolving business landscape while managing both Grasslands and his responsibilities as a landlord.
