Etkin Johnson Fully Leases New 153,018 SF Spec Building in CTC
DENVER — Etkin Johnson Real Estate Partners, a full-service, privately owned commercial real estate investment and development company based in Colorado, have completed construction of its 153,018-square-foot speculative building located at 633 CTC Boulevard in Louisville’s Colorado Technology Center (CTC). Three companies have signed long-term leases to fully occupy the new building: The Keystone Group, Molecular Products and Wild Goose Canning, triggering the development of an additional 400,000 SF of industrial/flex space.
“Our developments have helped drive significant growth in the CTC over the past several years, and the addition of these companies will further add to the economic vitality and longevity of the area,” said Ryan Good, executive vice president and partner at Etkin Johnson. “Now that 633 CTC Boulevard is fully leased, we’re starting construction on a brand new spec campus in the CTC with state-of-the-art technology and amenities.”
The new speculative three-building, 400,000-square-foot industrial/flex campus – dubbed Louisville Corporate Campus at CTC – will be constructed on a 33.12-acre parcel purchased by the company and annexed into the CTC earlier this year. Like other Etkin Johnson properties in the area, Louisville Corporate Campus at CTC will feature 24-foot ceilings, heavy power, loading docks and an energy-efficient design.
At 633 CTC Boulevard, The Keystone Group is leasing 52,336 square feet of space, built out to accommodate offices, a showroom and distribution center. This family-owned and operated company, currently located in Erie, Colorado, specializes in LED safety flares, LED work lights and sun shades. The company is expected to move into the new space in January 2018.
Molecular Products, a world leader in the design and manufacturing of life-critical devices for the treatment of breathable gases, will occupy 63,030 square feet in the new building. Multiple tenant improvements will be made to accommodate heavy manufacturing, laboratory work and office space. Molecular Products was under lease for space at Etkin Johnson’s property located at 2000 Taylor Avenue in CTC, but required additional square footage to consolidate two business operations.
“The new space within the Etkin Johnson facility enables us to consolidate our business into a state-of-the-art global headquarters in the US,” said Chris Rosauer, COO of Molecular Products, which plans to move into the new space at 633 CTC Boulevard in April 2018. “We will be installing new proprietary technologies and capabilities supporting the protection of our soldiers in conjunction with the US government. The new location allows us to keep pace with our rapid growth, and is strategically located, allowing us to improve in many aspects of our business.”
Wild Goose Canning is leasing 37,652 square feet of office, warehouse and manufacturing space in the new building. This Boulder-born company, which plans to move in January 2018, offers innovative canning systems to help craft producers around the world achieve their best canned beer, cider, wine, coffee, spirits, juice, and more. The company is relocating from its current Boulder location due to limited expansion capabilities in that market.
“We see a lot of growing companies in Boulder opting for new space in the CTC,” added Good. “They get to keep their Boulder County address, with proximity to some of the best talent in the nation, and at a lower cost.”
Etkin Johnson purchased the 12.2-acre 633 CTC Boulevard property in 2015 from Hill Properties for $1.975 million ($3.72 per square foot). The company currently owns nearly 5 million total square feet in Colorado.
Chris Boston and Michael-Ryan McCarty from Gibbons-White represented The Keystone Group in the transaction. Eric Brynestad and David Shirazi from JLL represented Molecular Products. Aaron Hafliger from Savills Studley and Chad Kollar from Cresa Partners represented Wild Goose Canning.