Colorado Technology Center in Louisville, Colorado U.S. Highway 36 corridor.

As Seen In The Colorado Real Estate Journal May 15-June 4, 2013

Medtronic Navigation Inc. signed a lease for 40,657 square feet of office/flex space in the Colorado Technology Center in Louisville, boosting its presence on the U.S. Highway 36 corridor. The global medical technology company will occupy a portion of the 92,576-sf building at 1480 Arthur Ave. in July. Etkin Johnson Group owns the property. Ryan Good, Etkin Johnson vice president of leasing and sales, negotiated the transaction with Todd Wheeler of Cushman & Wakefield of Colorado, who represented the tenant.

“This is a great opportunity to have a leading medical technology company as a tenant in our portfolio,” Good said in a statement. “Medtronic is a perfect addition to the long list of high-tech companies that are located in the CTC, and the quality and location of our property at 1480 Arthur made it their top choice.”

Medtronic Navigation is the world’s leading maker of medical devices, with 45,000 employees and operations in more than 120 countries. The company provides innovative medical therapies to treat cardiac and vascular diseases, as well as a wide range of other chronic medical conditions.

In Colorado, Medtronic has operations in Denver and Parker, as well as a North American education center in Louisville. The newly leased space will be used primarily as a production facility. Kiosk occupies a large portion of the building, and 20,000 sf is available for lease.

The Colorado Tech Center is a master-planned business park that is home to several leading manufacturing and high-tech companies, including Fresca Foods, Zeon Corp., Intertek and Kiosk. Located just off the Northwest Parkway, it is within an approximately sixminute drive of Boulder and 15 minutes from Denver.

Etkin Johnson Group owns approximately 700,000 sf in the tech center, and Good said it is seeing strong activity. We’re seeing good activity. It’s been strong from good-credit tenants, and overall we currently have only one additional vacancy in the park, he said. That space totals 51,000 sf.