AUGUST 17-SEPTEMBER 6, 2016
by John Rebchook
The Opus Group recently
started construction on a
306-unit, Class A apartment
community, the first project
in the high-profile Jones Dis-
trict along Interstate 25 in
the southeast corridor.
The Jones District, a tran-
sit-oriented development,
will be the largest develop-
ment in Centennial.
A ceremonial ground-
breaking for the Glenn is
scheduled for Aug. 17.
The Glenn, named after
the late cable TV pioneer
Glenn R. Jones, is a 6-story
residential rental building.
Opus inked a deal to buy
and develop the land from
Jones in 2014. Jones died in
July 2015.
The Jones District is a
42-acre
master-planned
development that will
become a destination com-
munity in which to live,
work and play.
“We’re thrilled to share
our plans and kick off work
for the first of many projects
at The Jones District,” said
Peter Coakley, senior vice
president and general man-
ager, Opus Development
Co. LLC.
“The Glenn is a prime
example of what’s in store
for this community with
spectacular mountain views,
upscale amenities and con-
venient access to public
transit – it’s a terrific proj-
ect to start the 1.8 million
square feet of development
to come,” Coakley contin-
ued.
The Glenn, west of Inter-
state 25, will feature retail
space on the ground floor
as well as high-end ameni-
ties for residents, such as a
fitness center, office space,
outdoor pool, hot tub, fire
pit and grilling areas.
The sixth floor will also
feature a clubroom and
outdoor deck designed to
take full advantage of Front
Range views.
Opus is the developer
selected to transform The
Jones District into mixed-
use space including residen-
tial, hotel, office and retail
projects.
The Glenn is truly an in-
house project for Opus.
Not only is Opus Devel-
opment Co. LLC the devel-
oper but also Opus Design
Build LLC is the design-
builder and Opus AE Group
LLC will be the architect
and structural engineer of
record.
The building will be
owned by a joint venture
partnership between Opus
Development Co. LLC and
a Boston-based real estate
adviser.
First National Bank of
Omaha will provide con-
Opus has started construction of The Glenn, a 306-unit apartment community in The Jones District.
by Jill Jamieson-Nichols
Plenty
of
investors
jumped at the chance to buy
a Longmont office/research-
and-development building
leased to a leading technol-
ogy company.
Micron Technology Inc.’s
90,488-square-foot building
at 1900 Pike Road ultimate-
ly sold for $14 million, or
$154.72 per sf.
Pacific Acquisitions LLC,
an Anchorage, Alaska-based
company, was the buyer.
The seller was a Crescent
Real Estate affiliate.
Micron, a publicly traded
advancedmemory and semi-
conductor technology com-
pany, has a long-term lease
commitment to the build-
ing, a single-story, U-shaped
s t ruc ture
that sur-
r o u n d s
a central
courtyard.
“ T h e
a s s e t
r e c e i v e d
t r e m e n -
dous inter-
est due to
the long-term nature of the
lease and the strong credit
tenancy that was provided,”
said Tyler Carner of CBRE,
who listed the property with
CBRE’s Geoff Baukol and
Jeremy Ballenger.
“We certainly had a lot of
attention from single-tenant-
focused investment groups,
both private and institution-
al in nature,” Baukol added.
Micron Technology has
made significant invest-
ments in the property since
it took occupancy in 2012. It
recently expanded into the
entire building with comple-
tion of 21,075 sf of office and
Micron Technology Inc. occupies 1900 Pike Road in Longmont.
CONTENTS
Finance
22
Law &Accounting
34
Inside
Tyler Carner
