Page 12 —
COLORADO REAL ESTATE JOURNAL
— February 4-February 17, 2015
to Andrew Freeman of Freeman
Myre.
F r e e m a n
represented
AvaDan
in
the sale to
XetaWave.
Xe t aWave
makes “soft-
ware-defined”
radios for use
in industries
including oil
and gas, water and wastewater,
electrical power and industrial
controls.
Other News
n
Johnson Kightlinger and
Co.
recently secured a long-term
lease for 4,562 square feet at 4999
Pearl East Circle in Broadway. The
company has been at 2300 Broad-
way for more than 30 years.
“We are happy we could find a
new office space in Boulder that
is well managed, conveniently
located and affordable. We look
forward to continuing our work in
the Boulder business community,”
said
Mark Kightlinger
of
John-
son Kightlinger.
Todd Walsh
of
The Colorado
Group,
who represented the ten-
ant, said rising rents and limited
availability are pushing some ten-
ants out of downtown Boulder
and into other parts of the city.
“Office rates are on average 20
percent less than their downtown
counterparts and landlords are
more willing to participate with
tenant finishes, free rent and other
incentives to lease their proper-
ties,” he said.
s
XetaWave exercised an option to buy the building at 258 S. Taylor Ave.
in Louisville.
Andrew Freeman
ing to upgrade their image,” said
Hart, citing activity by service,
technology, engineering, financial
services, consumer products and
communications firms.
“It really helps attract employ-
ees to be able to offer the amenity
base that Interlocken has,” said
Hart.
Theparkand thewhole corridor
stand to benefit from the transfor-
mation of U.S. Highway 36 into
a multimodal corridor as part of
the largest highway improvement
project in the state. It will include
a bikeway, bus rapid transit, and
managed traffic lanes for high-
occupancy vehicles.
While smaller than other “cre-
ative corridors” like Silicon Valley,
North Carolina’s Research Trian-
gle and Boston-Cambridge, U.S.
36hasmanyof the same attributes
in terms of the kinds of compa-
nies it has attracted and contin-
ues to attract, said Bo Martinez,
economic development director
for the city and county of Broom-
field. “We’re in a great position
to really go after those types of
businesses and bring them to our
community,” he said, noting the
list of companies already in Inter-
locken and the surrounding area
is “pretty impressive,” including
White Wave Foods, Vail Resorts,
SCL Healthcare Systems, Renew-
able Energy Systems and Sandoz.
Martinez said Broomfield has
seen a lot of activity over the last
three years from companies in
those industries and others.
Interlocken, said Hart, allows
companies that need large space
to maintain a high-tech identity
and proximity to the Univer-
sity of Colorado while drawing
employees from both Boulder
and Denver. It has its own dis-
tinctiveness, too, with biking and
walking trails and a more casual
feel than downtown or even the
southeast suburban office market.
“It’s not for everyone,” said Hart,
“but that’s also a significant draw
and part of the appeal.”
Hines always has taken a long-
termviewwithEos, saidDespard,
who believes the park and the
office campus are well positioned
to capture a large user or users.
“It’s always been a big-user
park,” said Despard. “We see
every RFP that comes through
our market. Interlocken is always
on the radar, and I think inevita-
bly something will land in Inter-
locken. There are not too many
big blocks of space that are in
existence in that area.”
s
