81-Acre Mixed-Use Business Park Coming to Broomfield
St. John Properties, Inc. intends to invest $95 million to develop Simms Business park, a 600,000-square-foot mixed-use community on 81 acres of land in Broomfield. Construction activities for phase one are expected to commence in early 2021.
Purchased from Brocade Communications Systems, LLC, the business community located at the intersection of N. Simms Street and W. 112th Avenue will be comprised of two multi-story Class “A” office buildings containing 200,000 square feet of space; five single-story office buildings offering 150,000 square feet of office space; six R&D/flex buildings containing 220,000 square feet of space; an 8,000-square-foot retail building and four pad sites suitable for multiple retail applications. The buildings will be designed for LEED Certification by the U.S. Green Building Council.
“This strategically-positioned site provides the opportunity to execute our long-term development strategy in a section of Colorado that contains every essential metric for sustained growth and economic vitality,” explained Brandon Jenkins, St. John Properties’ regional partner for Colorado. “The philosophy of St. John Properties is to remain ahead of the development curve and speculatively build commercial real estate product that anticipates the future needs of our clients. We were attracted to the site’s proximity to the existing business communities of Interlocken and Westmoor Technology Park as well as easy access to Boulder and Denver markets along the US–36 northwest “creative corridor” of the Denver metropolitan area. Our research shows the continuing trend among users of commercial office space in all product categories to migrate to Denver’s northwest suburbs for expansion and relocation.”
St. John Properties has developed and presently manages nearly one million square feet of commercial real estate assets in the Colorado region including Corporate Center, a fourteen-building 600,000-square-foot business community in Golden; Sixth Avenue Place, a 145,000-square-foot project in Golden; and Walnut Creek Business Park, which contains more than 200,000 square feet of space in the city of Westminster. Brandon Jenkins was named Regional Partner for the St. John Properties Colorado office last year after completing a five-year corporate partner-in-training program. The company also maintains regional offices in Louisiana, Utah, Virginia and Wisconsin.
According to data from the Broomfield Economic Vitality Division, Broomfield County is the third-fastest growing county in Colorado with a population that has nearly doubled over the past 20 years. Approximately two-thirds of new residents have relocated from within the state. The median age of all residents is 37.6 with a median household income approaching $109,000. Major employers include CenturyLink, Oracle America, SCL Health Care, Ball Corporation and Vail Resorts. A number of companies engaged in high technology and research and development have relocated to the region in recent years.