For over 25 years, Etkin Johnson Real Estate Partners has taken a leading role in the acquisition and development of property throughout Colorado's Front Range, earning the company its current status as the premier commercial real estate company in the greater Denver area. Dedicated to innovating while maintaining a fiscally sound base, Etkin Johnson is committed to providing clients with the highest levels of service.

Contact

Etkin Johnson Real Estate Partners
1512 Larimer Street, Suite 100 (Bridge Level)
Denver, Colorado 80202
303.650.6500

Sign Up For Our Newsletter

Contact: 303.650.6500|info@etkinjohnson.com

Monthly Archives: January 2017

Etkin Johnson reaps rewards with $18.23M Southpark sale

As Seen In The Colorado Real Estate Journal – January 18, 2017

Etkin Johnson turned a 112,179-square-foot office/flex building at Southpark Business Center into a climate-controlled self-storage facility managed by Extra Space Storage.

Etkin Johnson Real Estate Partners reaped the rewards of an asset repositioning with the $18.23 million sale of Southpark Business Center in Littleton.

The multifaceted property at 8000 Southpark Way sold to a private buyer identified in public records as Familia Eubank LLC and San Miguel LLC.

Etkin Johnson bought the property from Lockheed Martin for $4.55 million three years ago and made significant capital improvements to it. It leased a 33,238-square-foot office/flex building to Lockheed’s Autonomous Systems division, converted a 112,279-sf flex building into a state-of-the-art, 772-unit self-storage facility and leased an 8-acre fenced lot to auto sales consultant JFR & Associates.

“The most unique aspect of this property is its three distinct components,” said Derek Conn, Etkin Johnson director of finance. “We thought critically and thoroughly about how to maximize value from each building and lot on the site. Most properties don’t have this type of diversity and we needed to find a buyer who appreciated that.”

The buyer is experienced in the self-storage business and saw upside in continuing lease up of the self-storage facility, according to Charles “Chico” LeClaire, who handled the transaction with Marcus & Millichap’s Adam Schlosser, Drew Isaac and Barry Higgins. The facility is managed by Extra Space Storage, which he called “the best third-party management company in our industry.”

Combined with the Lockheed Martin and JFR leases, the deal provided “steady income, cash flow and a diversified investment all in one,” LeClaire said.

“This was a great opportunity to round-trip an asset from acquisition through value-add redevelopment and ultimately to a sale that achieved great financial success for Etkin Johnson and its investors,” said Conn. “Chico and Adam are preeminent storage brokers both locally and nationally. They made the process smooth and efficient for all parties involved and found a buyer who sees the value in Southpark Business Center’s easy access to Mineral Avenue and C-470, and generous parking.”

Etkin Johnson Sells Newly Renovated Southpark Business Center

As Seen In Mile High CRE – December 29, 2016

Self Storage

Shown above, Southpark Business Center located at 8000 Southpark Way in Littleton, Colorado.

Etkin Johnson Real Estate Partners, a leading full-service, Colorado-based developer, announced today it has sold Southpark Business Center, located at 8000 Southpark Way in Littleton, Colorado, to a private buyer with experience in the self-storage business for $18.225 million.

Etkin Johnson acquired the property in 2013 from Lockheed Martin Corporation for $4.55 million, and made significant capital improvements, which included transforming the larger building into a state-of-the-art self-storage facility, as well as upgrading the landscaping and exterior of the buildings to attract tenants.

The property, which consists of one 112,279 SF building, one 33,238 SF building and an eight-acre fenced lot, is fully leased. The large storage facility has 772 climate-controlled units that are used by area residents and businesses alike. The smaller building is leased by Lockheed Martin’s Autonomous Systems division for research and development. The lot is leased to JFR & Associates Inc., which helps people buy new and used cars.  

“The most unique aspect of this property is its three distinct components,” said Derek Conn, director of finance at Etkin Johnson. “We thought critically and thoroughly about how to maximize value from each building and lot on the site. Most properties don’t have this type of diversity, and we needed to find a buyer who appreciated that.”

Brokers Charles “Chico” LeClaire and Adam Schlosser at Marcus & Millichap worked with Etkin Johnson to find a buyer.

“Chico and Adam are preeminent storage brokers both locally and nationally,” said Conn. “They made the process smooth and efficient for all parties involved and found a buyer who sees the value in Southpark Business Center’s easy access to Mineral Avenue and C-470 and generous parking.”

 

Etkin Johnson Leases Lookout Business Center to FIRST RF Corporation

As Seen In Mile High CRE – December 20, 2016

Shown above, Lookout Business Center in Boulder, CO.

Etkin Johnson Real Estate Partners leased Lookout Business Center, located at 6150 Lookout Road in Boulder, Colorado, to a single tenant, FIRST RF Corporation. The move allows FIRST RF Corporation to consolidate its more than 100 employees from two separate facilities into one modern and centralized location.

Etkin Johnson acquired Lookout Business Center in April, made necessary improvements and then leased the space to FIRST RF, all within the same year. The 50,472-square-foot office/flex building was renovated to feature an open, flexible floor plan, new interior and exterior paint, glass overhead doors, exposed 16-foot ceilings and updated landscaping.

“Lookout Business Center is in a prime location near the Boulder core and will be a vital asset for FIRST RF as the company continues to grow,” said Ryan Good, executive vice president and partner at Etkin Johnson. “Etkin Johnson acquired the property earlier this year, recognizing its potential for maximum visibility, flexibility and convenience. After renovating the space to meet the demands of the next generation of commercial tenants, we’re confident the space will fit the needs of FIRST RF. We look forward to working with FIRST RF to further customize the space and make their vision a reality.”

FIRST RF is a women-owned advanced technologies company specializing in antennas and radio frequency systems.

Etkin Johnson acquired the property from Qualcomm, but the company actually previously owned and managed the property for 16 years before selling to Qualcomm in 2014. The latest acquisition included the main building, an adjacent parking lot at 5150 Lookout, a vacant 3.7-acre parcel at 6100 Spine Road (later sold to Boulder firm W.W. Reynolds Cos.) and a vacant 2.3-acre parcel at 6201 Spine Road (currently under contract for sale).

Denver developer breaks ground on Broomfield office project

As Seen In The Denver Business Journal – December 1, 2016

Etkin Johnson Real Estate Partners is developing a 173,380-square-foot office project in Broomfield.

Denver-based Etkin Johnson Real Estate Partners Wednesday broke ground on a $40 million speculative office project in Broomfield called Atria.

Atria will encompass 173,380 square feet on 15.46 acres at 13699 and 13601 Via Varra Road. Completion is expected in the first quarter of 2018.

The project includes two identical buildings at 86,690 square feet each with flexible floor plans, natural light and roll-up garage doors. The project was designed by Ware Malcomb Architects.

“Today’s office tenants have different needs and preferences in terms of what they expect from the workplace – from supporting different mobility options to providing amenities that foster employee well-being,” said Ryan Good, executive vice president and partner at Etkin Johnson.

Etkin Johnson has been busy in recent years, building a number of industrial buildings in the Colorado Technology Center in Louisville and planning a three-phase mixed-use development on 77 acres in Colorado Springs.