CBRE Announces Full Lease-Up of 411,485-Sq.-Ft. Industrial Property in Boulder County
08 Apr 2020
CBRE announced that the 411,485-sq.-ft. industrial property located at 333-335 Centennial Parkway in Louisville, Colo., is now fully leased to six tenants. Tyler Carner, Jeremy Ballenger and Jeremy Kroner with CBRE’s Denver and Boulder offices represented the owners, DPC Companies and Long Wharf Capital.
“Tenants are attracted to 333-335 Centennial Parkway because it provides highly functional industrial real estate in a supply-constrained, yet amenity-rich, location in Boulder County. The property just completed an extensive renovation program and is now fully leased to six companies representing some notably high-growth industries,” stated Jeremy Kroner, First Vice President, CBRE.
Built in 1995 and fully renovated in 2019, 333-335 Centennial Parkway includes dock-high and drive-in loading, heavy power, sprinklers, 28-ft. clear heights, ample parking and fiber connectivity. A new roof, improved entries, an updated façadeand new monument signage were part of the renovations completed last year.
“We recognized the potential to modernize this property and differentiate it from other offerings in the market. There’s strong demand from industrial companies in the area that want to be as close to Boulder as possible and who are looking for unparalleled amenities,” said Chris King, President & CEO, DPC Companies.
At the time of acquisition in 2017, the property was 50 percent leased to two tenants: Bestop Inc. and , Inc. CBRE brought the property to full lease-up with six total tenants representinga diverse mix of industries, including e-commerce, robotics, biotechnology, information technology and manufacturing. The four companies who recently signed leases include:
Alpen High Performance Products Inc., a glass and windowmanufacturer, leasing 58,800 sq. ft.
Inc., a biotechnology company, leasing 52,400 sq. ft.
Corp., an information technology company, leasing 46,500 sq. ft.
An undisclosed e-commerce company, leasing 43,200 sq. ft.
The property is located just north of U.S. 36 at the McCaslin Boulevard exit, the last exit before downtown Boulder.
“We are finding more and more tenants want to be located alongthe U.S. 36 corridor with its proximity to Boulder and Denver labor pools and consumer populations. In fact, the Northwest submarket recorded the highest rate of industrial net absorption inthe entire Denver region in 2019. With that said, there are currently no industrial-zoned land sites available for sale in the corridor, putting demand pressure on existing properties like 333-335 Centennial Parkway,” stated Tyler Carner, Executive Vice President, CBRE.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.