For 30 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.

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Monthly Archives: April 2019

New Industrial Project to Help Meet Demand in Southeast Denver

As Seen On CoStar.com, March 21, 2019

Etkin Johnson Buys 28 Acres in Centennial for 334,000-SF Industrial and Flex Campus

Etkin Johnson plans to develop 28 acres in Arapahoe County.

More industrial real estate is coming to the growing Centennial area outside Denver.

Local investor and developer Etkin Johnson Real Estate Partners said it has purchased 28 acres for a new industrial development in the area. The sale comes on the heels of developer United Properties’ announcement this month that it plans to build in the area, too.

Etkin Johnson continued its recent spate of activity by acquiring for an undisclosed price a piece of land at the southwest corner of South Chambers Road and Compark Boulevard in the Compark Business Campus in Arapahoe County for the construction of Edge 470, a 334,000-square-foot industrial and flex campus that it plans to develop in two phases.

The first phase is planned to include 80,000 square feet and is expected to be completed in the first quarter of 2020.

United Properties said earlier this month that it has also purchased land in the area to develop at least 225,000 square feet of industrial real estate.

The area is home to about 4.5 percent of the overall industrial inventory in the Denver area with 10.8 million square feet, according to CoStar. But with a growing population of employees working in nearby offices and residents in new apartment complexes, the need for industrial space has also increased.

The demand keeps industrial rents in the Centennial area about 24 percent higher than the overall market average at $12.16 per square foot annually, according to CoStar data.

“With its increased demand and sustained growth, the southeast office/industrial market has been on Etkin Johnson’s radar for quite some time,” said Derek Conn, partner at Etkin Johnson, in a statement. “Similar to what we’ve developed along the northwest corridor, our vision for Edge 470 is to create a forward-thinking offering for high-caliber companies looking to grow within metro Denver. This business park is poised to support the recent and continuing population and employment growth in the surrounding area.”

In the northwest corner of the Denver area, Etkin Johnson has developed tens of thousands of square feet of industrial real estate in its Colorado Technology Center. The buildings there cater to industrial users, such as aerospace companies, that are focused on more high tech than those companies that lease space to the east of Denver near Denver International Airport.

Etkin Johnson has completed two large sales so far this year that have positioned it for new investment. The first was a record-setting industrial portfolio sale in which the company sold 1.95 million square feet of real estate across the Front Range for $248 million, and the second occurred when the company sold 58 acres of land in northern Colorado Springs to Centura Health for a new health care facility.

Etkin Johnson sells 57.8 acres to Centura Health for $30M

As Seen In The Colorado Springs Business Journal, February 14, 2019

Etkin Johnson Real Estate Partners, a privately owned commercial real estate investment and development company based in Colorado, announced the firm sold a 57.813-acre parcel to Centura Health for $30 million.

“Located at the intersection of I-25 and InterQuest Parkway, the parcel is slated for a third hospital campus for Centura Health’s Penrose-St. Francis Health Services, a full-service, 522-bed acute care facility in Colorado Springs, which includes Penrose Hospital and St. Francis Medical Center,” according to a news release issued by Etkin Johnson Real Estate Partners.

“Northern Colorado Springs is quickly becoming a leading economic engine, paving a clear path of growth for the city,” said Etkin Johnson partner Ryan Good in the release. “This highly visible site will allow Centura Health to better serve Coloradoans, while also providing their doctors, nurses and staff with multiple options for housing nearby. We plan to reinvest the capital into future developments and acquisitions that are currently in the works.”

Etkin Johnson purchased the site as part of a 77-acre parcel in 2016. The site’s location, just east of the U.S. Air Force Academy, “offers unobstructed views of nearby Pikes Peak and easy access to several new multifamily, office, hotel and retail developments in the area,” according to the release. “In 2017, Colorado Springs’ economic growth hit a seven-year high, leading to a surge of new businesses and residents, particularly millennials. Colorado Springs currently ranks sixth in the country for highest share of millennials overall, at 26.4 percent.”

In 2018, Etkin Johnson broke ground on FalconView, a 288-unit luxury apartment community immediately adjacent to the site.

Etkin Johnson currently owns more than 3 million square feet of industrial and office property, along with hospitality and multifamily assets along the Front Range. For more information about Etkin Johnson and its holdings, visit etkinjohnson.com.

Exclusive: Shoe giant Crocs relocating global HQ after more than a decade in Colorado’s Niwot

As Seen In The Denver Business Journal, February 5, 2019

ATRIA’s south building, and new Crocs headquarters.

After more than a decade in Niwot, shoemaker Crocs Inc. will be relocating its corporate headquarters to Broomfield in 2020.

“Our business is strong and we continue to explore ways to meet the needs of our employees while investing in our future,” Andrew Rees, president and CEO of Crocs (Nasdaq: CROX), said in a statement provided by the company. “This is an exciting time to be at Crocs, and just like our iconic product, this best-in-class new headquarters will help our employees be comfortable in their own shoes.”

Crocs has occupied its current 98,000 square-foot headquarters at 7477 East Dry Creek Parkway in Niwot since at least 2004. The company’s new 88,000-square-foot headquarters will be just 13 miles away at 13699 Via Varra Road in Broomfield.

Shannon Sisler, Crocs’ senior vice president of global human resources, told Denver Business Journal that the company could not discuss the financial details of the company’s move due to the current earnings quiet period, but confirmed that economic incentives from the state of Colorado and the city of Broomfield played a role in Crocs’ move.

“It was just one piece of the puzzle,” she said.

In January, Colorado Economic Development Commission member approved $606,272 in job-growth incentive tax credits for “Project Playa,” an unidentified company believed to be Crocs, according to previous Denver Business Journal reporting. OEDIT leaders told Denver Business Journal that the company’s senior-leadership structure is spread out geographically, leading it to also consider Boston and Dayton for expansion. Crocs’ CEO lives in Boston.

Sisler confirmed that Crocs considered moving its headquarters to another state.

“We looked at all of our options and we decided Colorado was the best option,” Sisler said.

Sean Gould, OEDIT deputy director of business funding and incentives, previously said it was important to nab the Project Playa expansion because it gives Colorado an opportunity to invest in a hometown company that is on the rebound.