BrokerageIndustrial

CBRE Completes Full Lease-up of Industrial Property in Louisville

A 411,485-square-foot industrial property located at 333-335 Centennial Parkway in Louisville, is now fully leased to six tenants representing e-commerce, robotics, biotech, IT and manufacturing.

Tyler Carner, Jeremy Ballenger and Jeremy Kroner with CBRE represented the owners, Denver-based DPC Companies and Boston-based 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 façade and 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 Servtech, Inc. CBRE The four companies who recently signed leases include:

 Alpen High Performance Products Inc., a glass and window manufacturer, leasing 58,800 sq. ft.
 ArcherDX Inc., a biotechnology company, leasing 52,400 sq. ft.
 Synnex Corp., an information technology company, leasing 46,500 sq. ft.
 An undisclosed e-commerce company, leasing 43,200 sq. ft.

“We are finding more and more tenants want to be located along the 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 in the 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.

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