Good industrial space is hard to find in Boulder, Etkin Johnson EVP Ryan Good tells us. Increasing demand for space, especially in the Northwest market, spurred by a more robust Denver-area economy, is driving companies to look further afield.
We spoke with Ryan ahead of his appearance this morning at Bisnow's 3rd annual Denver State of the Market. "Companies are looking for a minimum of 24-foot-clear ceiling height, energy-efficient design, a lot of natural light and good access to public transportation," he says. Space meeting that description is mostly taken in Boulder. Low supply, high lease rates and few development opportunities are spurring businesses to relocate to surrounding areas, Ryan explains. Etkin Johnson's industrial/flex properties at the Colorado Technology Center in Louisville are benefiting from the exodus.
Etkin Johnson recently completed a flurry of leases at the CTC, totaling more than 300k SF, with Ryan repping his company in the deals. Etkin Johnson's 10-building, 870k SF industrial property is now fully leased. The largest of the leases was 136k SF for Fenix Outdoor Imports at the newly finished spec 1900 Taylor Ave (seen under construction). CTC is also home to Fresca Foods, Zeon Corp and Intertek, among other tenants. Etkins Johnson has also unveiled plans for ATRIA, a two-building office campus in Broomfield. Construction is slated to begin in November with delivery anticipated in Q3 '16.
Snapped this morning: over 250 real estate pros came out for our State of the Market at EOS Campus at Interlocken. Besides Ryan, speakers included execs from Alberta Development Partners, East West Partners, Etkin Johnson, Gogo, Hines, Holland Partner Group, McWhinney, SCL Health, Unico and more. To sum it in one word: hopping (both the market and the panel discussions). Watch for complete coverage next edition.
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