Colorado Real Estate Journal - September 2, 2015
Etkin Johnson Real Estate Partners is leasing up speculative buildings at the Colorado Tech Center in Louisville faster than it can deliver them and intends to keep rolling right along. Packers Plus Energy Services (USA) leased Etkin Johnson’s newest tech center building, a 59,137-square-foot industrial/ flex building under construction at 1960 Cherry St. An oil and gas services company with operations in Canada and throughout the U.S., Packers Plus is expanding its presence in Colorado. Its lease commences Jan. 1. The deal is the third in which Etkin Johnson has fully leased a spec development at CTC prior to completion. Fenix Outdoor Imports leased 136,701 sf at 1900 Taylor Ave., and WhiteWave Foods leased 1900 Cherry, a 66,350-sf building. Construction of the next speculative flex building is set to begin in November. Etkin Johnson also is under contract to buy 45 acres at the tech center for more than 500,000 sf of additional development over the next two years. Executive Vice President and partner Ryan Good said a lack of supply, coupled with “the Boulder effect” are driving demand at the Colorado Tech Center. He estimated more than 50 percent of the activity in the park is from companies that would prefer to be in Boulder but can’t find facilities large enough to accommodate their requirements. “This wave of new leases demonstrates CTC’s appeal to leading technology c o m p a n i e s seeking Class A, energy-efficientindustrial space in a strategic location. The pace at which we’ve been leasing our new properties is a testament to the quality of the developments and the desirability of the business park.” Packers Plus Energy Services’ building is scheduled for completion in early October. It features 24-foot ceilings, nine truck docks, two drive-in doors, heavy power and green features that include low-E glass, a GenFlex cool roof system, electric-vehicle charging stations, skylights, LED site lighting and an energy-efficient HVAC system. Ware Malcomb designed the building. Murray & Stafford Inc. is the general contractor. David Hazlett of Colliers International represented Packers Plus in the transaction. “Packers Plus will be a great addition to Colorado Technology Center and we’re pleased to have them as a tenant in our portfolio,” said Good. Etkin Johnson Real Estate Partners’ next speculative building at CTC will be 2000 Taylor, a 120,877-sf building at the southeast corner of Taylor Avenue and CTC Boulevard. Scheduled for completion in spring, the building will have 16 loading docks, four drive-in doors, 24-foot ceilings and a parking ratio of 3.47 per 1,000 sf. That will be followed by a 152,992-sf building set to break ground in the first quarter on 12.2 acres the developer has under contract at 633 CTC Blvd. Another 33.12 acres is under contract for approximately 400,000 sf capable of housing one or more large corporate users. Etkin Johnson currently owns and manages 10 state-of-the-art industrial/flex properties totaling 900,000 sf in the Colorado Tech Center.