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Monthly Archives: April 2015

Park dedication to celebrate Broomfield community partnership

As Seen In the Broomfield Enterprise – March 21, 2015

Del-Corso-Park

Etkin Johnson’s 4-acre Del Corso community park will be dedicated to the City of Broomfield in a ceremony on Wednesday.

Broomfield will celebrate a new community park on Wednesday.

Etkin Johnson Real Estate Partners will dedicate the 4-acre Del Corso community park during a ceremony Wednesday. The park includes open areas for playing sports and a playground for children.

The park is meant to be a community-focused amenity where people can meet and play, said Etkin Johnson spokeswoman Ann Steinbach.

In the spirit of that community focus, Mayor Randy Ahrens will speak during the dedication, and the real estate group also will donate $5,000 to the Broomfield Community Foundation.

Foundation director Karen Smith said the organization is pleased with the donation.

“We’re definitely going to be at the dedication to say thank you,” she said.

Del Corso Park is one of the first pieces of development in the Broomfield Business Park neighborhood, which is just south of the Northwest Parkway and east of Via Varra Road.

Del Corso Park was developed by Etkin Johnson on the 74-acre site that also includes a new luxury apartment complex called Retreat at The Flatirons.

Etkin Johnson was in charge of most of the maintenance on the park since it was built last year, but will turn over the park to make it an official, Broomfield-owned public park, said Deputy City and County Manager Kevin Standbridge.

More apartments, some offices and retail are in the works for the site, according to a news release from developers.

At a meeting in October, City Council gave initial approval for developers to add 288 more units to the neighborhood near the park.

The park itself is expected to expand by another 1.3 acres as more development moves in.

At the meeting, Councilwoman Martha Derda said the park expansion will be a welcome addition, especially as more families move into the area.

“The bigger, the better. I’m always worried about where kids will go, as more kids move into the area,” she said during the meeting.

It also adds to Broomfield’s inventory of outdoor spaces, which have been a priority since the 1995 comprehensive plan was adopted. Broomfield has a 40 percent open lands goal, which was restated in the 2005 comprehensive plan and the 2005 open space and trails master plan.

“Open lands” refers to the combination of open space, which has native plants and grasses, and parks, which have irrigated land, Kristan Pritz, director of the Open Space and Trails department, said in January.

In January, Broomfield tallied 32.8 percent open lands, according Deputy City and County Manager Kevin Standbridge.

Broomfield calculates its open lands percentages by using the total “planning area,” which is 24,043 acres. That is larger than the acreage of Broomfield proper, in part because leaders worked with neighboring counties, such as Boulder, to develop shared amenities before Broomfield became a county in 2001, he said earlier this year.

Broomfield expects to reach the 40 percent open lands goal at buildout, but it’s unclear when that might be because of ever-changing development plans, Standbridge said.

Megan Quinn: 303-410-2649, quinnm@broomfieldenterprise.com or twitter.com/MeganQuinn2

6 new leases signed at Louisville’s Colorado Tech Center; Fenix to relocate from Boulder

As Seen In The Denver Business Journal – March 10, 2015

1900 Taylor Ave Construction

Six new leases were recently signed at the Colorado Technology Center in Louisville, totaling more than 310,000 square feet.

Six new leases at the Colorado Technology Center in Louisville mean that 310,702 square feet of office space will be occupied by companies either new to the park or expanding facilities there.

The largest lease brings Fenix Outdoor Imports LLC to a new flex industrial building at 1900 Taylor Ave. Fenix Outdoor Imports is leasing 136,701 square feet, relocating its operations from Boulder. Flex industrial buildings are those that can have office uses incorporated in addition to traditional industrial uses, such as warehouse space.

WhiteWave Foods Co. (NYSE: WWAV), which said in November that it would open a food research center in 50,000 square feet at 1900 Cherry St., has decided to lease the remaining space in that building, bringing its total footprint to 66,350 square feet. The 1900 Cherry property began construction as a speculative property, but is now fully leased.

The other new leases are:

51,974 square feet by Graphic Packaging International at 1795 Dogwood St.
20,933 square feet by Lifetime Fitness at 1795 Dogwood St.
19,386 square feet by World Triathalon Corp. at 1795 Dogwood St., also a relocation from Boulder
15,358 square feet by Medtronic Navigation at 1480 Arthur Ave., an addition to its current 40,657 square feet in the building

The trend of relocating from Boulder to Louisville and environs is growing, said Ryan Good, executive vice president and partner at Etkin Johnson Real Estate Partners, which owns all of the properties that were leased.

“Companies looking to expand in Boulder are having a difficult time finding industrial space that meets their requirements,” Good said. “Low supply, high lease rates and few development opportunities are prompting businesses to relocate to surrounding areas and CTC has proven to be the ideal solution.”

Etkin Johnson owns 10 properties in the Colorado Tech Center, which are now 100 percent occupied.

“The growth we’re seeing in the northwest corridor is significant,” Good said. “Two of the properties just leased, 1900 Cherry and 1900 Taylor, were the first speculative industrial properties built in the submarket since the economic downturn. We were able to secure major tenants who have fully leased both buildings before either property was completely developed. The demand for Class A space is evident and we plan to continue delivering it within the region.”

Etkin Johnson is now building a 59,137-square-foot speculative flex industrial building at 1960 Cherry St. Delivery is planned in the third quarter.

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Colorado Technology Center in Louisville adds slew of new tenants

As Seen In the Boulder Daily Camera – March 10, 2015

1795-Dogwood

New tenants at CTC include Graphic Packaging, Life Time Fitness and World Triathlon at 1795 Dogwood Street in Louisville.

Fenix Outdoor Imports and Ironman operator World Triathlon Corp. are moving their Boulder operations to Louisville, officials said Tuesday in conjunction with announcing a slew of leases that could bring hundreds of jobs to the Colorado Technology Center.

The six new leases at the 580-acre business park off South 96th Street and Dillon Road total 310,702 square feet and bring Etkin Johnson’s 10-building portfolio there to 100 percent occupancy, officials for the Denver-based commercial real estate firm said.

The regional business activity also spurred Etkin Johnson to move forward on plans for two speculative buildings at the business park: a 59,137-square-foot industrial and flex building under construction; and a 125,000-square-foot building set for construction in September.

“There’s not many options for quality, Class A, industrial/flex space along the 36 corridor,” said Ryan Good, executive vice president and partner at Etkin Johnson.

The new leases, some of which have taken as long as nine months to come together, are as follows:

  • Fenix Outdoor Imports LLC: 136,701 square feet at the newly constructed 1900 Taylor Ave. building
  • WhiteWave Foods Co.: 66,350 square feet at 1900 Cherry St., fully leasing the new building
  • Graphic Packaging International: 51,974 square feet at 1795 Dogwood St.
  • Life Time Fitness: 20,933 square feet at 1795 Dogwood St.
  • World Triathlon Corp.: 19,386 square feet at 1795 Dogwood St.
  • Medtronic Navigation: 15,358-square-foot addition to current 40,657-square-foot space at 1480 Arthur Ave.

For Fenix Outdoor Imports, the move across Boulder County will result in a doubling of the Swedish outdoor products company’s North American headquarters, said Doug Saunders, vice president of operations.

“We’re in our fourth year right now; we’ve been growing at really, really fast rates,” Saunders said.

With sales growing upward of 50 percent annually, the distributor of brands such as Fjallraven, Brunton and Primus has outgrown its 62,000-square-foot site at 7088 Winchester Circle in Gunbarrel. The new site will house offices, a showroom and distribution operations.

“What we’re trying to do is move to a space that supports the business’ needs for the next few years,” Saunders said.

Those needs could be significant. The current sales gains and rate of retail store expansion could equate to a tripling of Fenix’s 57-person workforce, he added.

Natural products company WhiteWave Foods previously announced plans to build out a new test kitchen and research-and-development facility at the Colorado Technology Center. After the acquisitions of companies such as Earthbound Farm and So Delicious, WhiteWave needed a larger culinary center than what was available at its North American headquarters in Broomfield, officials have said.

WhiteWave officials declined to disclose the number of employees that will work at the Colorado Technology Center.

Officials for Graphic Packaging International, a unit of Atlanta-based Graphic Packaging Holding Co. (NYSE: GPK), could not be reached Tuesday for comment. In 2010, Graphic Packaging shuttered a 150-person beverage-packaging plant in Golden, maintaining a small research-and-development workforce there.

Life Time Fitness is moving its Athletic Events division to Louisville from the fitness club and events operator’s headquarters in Chanhassen, Minn., said Amy Henderson, a company spokeswoman.

About 25 people will relocate to Colorado from Minnesota, and the Louisville office will fill out with roughly 55 employees by year’s end, she said.

Life Time will have a friendly neighbor in World Triathlon Corp., the Tampa, Fla.-based operator of Ironman races. Last week, the two firms announced the exchange of three races.

“I’m looking forward to sharing a parking lot with them in the next five years,” Ironman race director Dave Christen said, giving a laugh.

World Triathlon’s new space in Louisville is roughly the same size as its facility at 3550 Frontier Ave. in Boulder.

“Our term was up in our current location,” Christen said. “There’s a lot of development going on in that area; it’s just too much mixed-use for a warehouse space. … It would have some operational conflicts.”

World Triathlon and the other firms expect to complete their moves in the coming weeks and months, officials said.

Officials for Medtronic, which recently completed a $43 billion acquisition of medical-device maker Covidien, could not be reached for comment.

Alicia Wallace: 303-473-1332, wallacea@dailycamera.com or twitter.com/dc_alicia

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WhiteWave Foods to open food research building in Louisville

As Seen In The Denver Business Journal – November 4, 2014

1900-Cherry

1900 Cherry St. is Etkin Johnson Real Estate’s newest addition to the Colorado Technology Center in Louisville.

WhiteWave Foods Co. has leased 50,000 square feet in Louisville to open a food preparation, research and testing facility.

The lease on the property at 1900 Cherry St. will start March 1, according to Etkin Johnson Real Estate Partners, which is responsible for leasing the newly constructed industrial building on the site.

The WhiteWave (NYSE: WWAV) lease is the first signed on the 66,350-square-foot building, which began vertical construction last spring in the Colorado Technology Center.

WhiteWave manufactures plant-based foods and beverages with distribution throughout North America and Europe.

Etkin Johnson has brought many new tenants to the Colorado Technology Center, including Trelleborg Sealing Solutions in a relocation that was announced last December.

WhiteWave is headquartered in Broomfield and in September announced that it would purchase Oregon-based So Delicious Dairy Free for $195 million in cash.

“We continue to see substantial growth in the northwest corridor and believe this lease is indicative of the demand we’ve seen for Class A industrial/flex space in the market,” said Ryan Good, vice president of leasing and sales at Etkin Johnson. “A sizable lease with a quality tenant like WhiteWave at our most recent development is a testament to the strength of our tenant relationships and our development strategy within the region.”

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