Colorado Real Estate Journal - December 16, 2015
Etkin Johnson Real Estate Partners says the appetite for natural foods is fueling demand for space at the Colorado Tech Center in Louisville, where it is building a new building and buying more land. “The growth and demand these companies have for high-quality facilities has reduced the amount of available space across our CTC portfolio and has given us the opportunity to continue building within the technology park,” said Ryan Good, executive vice president and partner. “Colorado Technology Center is an ideal environment for the development and growth of innovative, specialized businesses like organic food and natural product companies. The vision we have for CTC is to provide a growth platform for these small to midsized businesses in order for them to flourish in Boulder County. That vision is taking shape now more rapidly than ever.” WhiteWave Foods, Fresca Foods and Graphic Packaging, which makes packaging for foods and beverages, leased space in Etkin Johnson buildings earlier this year. Given the activity it continues to see, the developer has broken ground on a 120,581-square-foot speculative building at 2000 Taylor Ave. The building will have 24-foot-clear ceilings, heavy power, 16 loading docks, four drive-in doors and an energy efficient design to reduce operating costs. It will be delivered next summer. Next up will be 633 CTC Blvd., a 152,992-sf office/flex building slated for construction next spring. Etkin Johnson recently acquired the 12.2-acre development site from Hill Properties for $1.98 million, or $3.72 per sf. “We’re confident both 2000 Taylor and 633 CTC will see significant interest and we are hopeful they will follow the same trend as our newest CTC spec buildings and lease up prior to full construction,” said Good. Boulder County is considered to be the epicenter of the natural foods and products industry, and Fresca Foods Chief Financial Officer/Chief Operating Officer Zan Powell said CTC’s proximity to Boulder makes it a “natural fit.” “As a partner to many entrepreneurial natural food companies, locating ourselves in CTC has allowed us to be close to many of our partners and thought leaders in the industry,” he said. Etkin Johnson Real Estate Partners has developed almost 1 million sf of space at the Colorado Tech Center. Its CTC portfolio is 100 percent leased.