Ricardo Baca, founder of the public relations firm Grasslands, has leased his building located at 100 N. Santa Fe Drive in Denver to the coworking company Switchyards. This decision comes as Grasslands has reduced its local staff due to layoffs and a shift towards remote work. Baca and his wife, Melana, purchased the property in late 2019 for $1.2 million, and now they will share the space with Switchyards as they adapt to changing business needs.
Switchyards, which has rapidly expanded since its launch in 2019, boasts a membership base of 7,000 across 30 locations in 10 cities. The company opened its first Denver location in April 2023 and another earlier this month. Members of Switchyards enjoy amenities such as 24/7 access, internet, bookable private rooms, a quarterly publication, and local coffee for a monthly fee of $100.
Baca expressed enthusiasm for Switchyards, noting their successful work in neighborhoods like LoHi and Five Points. “We really love what they’ve done,” he said. “Grasslands’ Colorado-based colleagues will be working at Switchyards Santa Fe as home base.” He anticipates that this arrangement will allow him to focus on managing the property and running Grasslands as separate entities.
The past year has been challenging for Grasslands, which specializes in cannabis-related public relations. Baca laid off approximately one-third of his staff in the spring due to client losses influenced by economic factors, including tariffs on certain products. Currently, the firm employs nine people, with four based outside Colorado. Baca noted that this shift has reduced the necessity for a large office space.
“This simplifies our business structure significantly and gets us in a place where we want to be,” he stated. Despite the challenges, Grasslands continues to serve a diverse portfolio of clients, including Illegal Pete’s, edible-maker Flower Union, and Naropa University in Boulder. Baca remarked that while the firm has faced hurdles, he believes in maintaining marketing efforts during economic downturns, drawing parallels to historical examples from the Great Depression.
Looking ahead, Grasslands is preparing for MJBizCon, a prominent marijuana industry event in Las Vegas scheduled for December. Baca has already arranged for a restaurant and a nightclub to host events during this time, emphasizing the importance of brand visibility even in a challenging market.
Baca had contemplated leasing the Grasslands building for about a year before Switchyards submitted a letter of intent just six days after he began marketing it. John Livaditis of Axio Commercial represented Baca in the deal, while Kevin Selig of Foundry Commercial and Tanner Mason of Benchmark Commercial represented Switchyards.
This lease marks a strategic move for Baca as he embraces new opportunities while navigating the complexities of the current business landscape.