Etkin Johnson Breaks Ground on Industrial/Flex Campus in Loveland and Secures Long-term Lease at CTC
Over the last decade, demand for industrial/flex space has increased significantly in Northern Colorado and long-term effects of the pandemic are projected to boost demand for industrial/flex space due to factors such as booming e-commerce and changing inventory controls, according to CBRE. Etkin Johnson Real Estate Partners, a full-service, privately owned commercial real estate investment and development company based in Colorado, has been very active in the area as of late. The firm recently broke ground on Axis 25, a two-building, 200,000-square-foot Class A industrial/flex campus on a 14.18-acre parcel along I-25 in Loveland.
“Axis 25 is designed to put companies at the center of growth in Northern Colorado,” said Ryan Good, executive vice president and partner at Etkin Johnson. “With its low cost of living, Northern Colorado has experienced exponential growth over the past decade. This campus will be able to offer companies the industrial/flex space and modern amenities needed to grow and attract the area’s skilled workforce.”
Offering highly flexible space that can accommodate a wide range of users, Axis 25 will include expansive 12-foot window bands on three sides, 24-foot clear height, multiple loading capabilities, on-site electric car charging stations, ample parking, and an environmentally responsible design. The property also features a west-facing outdoor amenity space with sweeping mountain views of Colorado’s Front Range.
“Axis 25 combines a highly visible location along I-25 with the Class A amenities that are most in demand with today’s industrial/flex users,” said Matt Patyk, vice president at CBRE. “We expect to see strong interest from a variety of different tenants and users, who want to benefit from new construction and prime accessibility to Northern Colorado’s growing population.”
Project partners on Axis 25 include general contractor Murray & Stafford and architect Ware Malcomb. Matt Patyk and Peter Kast of CBRE will assist in the leasing efforts.
Cycling Company to Expand Operations in the Colorado Technology Center
Etkin Johnson has also secured a long-term lease with The Pro’s Closet, one of the world’s largest and most trusted brands in pre-owned cycling, at a136,701-square-foot industrial/flex building located at 1900 Taylor Ave. in the Colorado Technology Center (CTC) in Louisville.
“The Pro’s Closet is a welcome addition to the Colorado Technology Center,” said Ryan Good, executive vice president and partner at Etkin Johnson. “A true pioneer, The Pro’s Closet is changing the way Coloradans and people across the country are accessing and enjoying the art and sport of cycling. We are excited to support their continued growth in Boulder County.”
The Pro’s Closet, which recently raised $12 million in equity funding, is consolidating operations from two existing facilities in Boulder and Longmont to accommodate the company’s immediate and projected growth. Their new space will support multiple functions, including repair and servicing, storage, distribution and day-to-day office operations. The building features 24-foot clear height, 20 dock and four drive-in loading doors, ESFR sprinkler system, and an energy-efficient design.
“The Pro’s Closet is thrilled to join the Colorado Technology Center community,” said Nick Martin, CEO and founder of The Pro’s Closet. “Our expansion into this space will provide us the opportunity to scale our growth in line with consumer demand, while also allowing us the room to innovate within the outdoor industry and redefine the way people think about pre-owned bicycles.”
Rachel Rohrig from Market Real Estate represented The Pro’s Closet in the transaction.
Since 2019, Etkin Johnson has secured multiple long-term leases within its 1.5 million-square-foot CTC portfolio, including CBD market leader Charlotte’s Web and Sierra Nevada Corporation. Most recently, the firm secured a long-term lease with a leading healthcare research company at its recently completed 113,288-square-foot industrial/flex building at 600 Tech Court.
“As companies re-evaluate their needs during the pandemic, we continue to see strong activity in the Colorado Technology Center as they look to relocate from Boulder into highly amenitized space at a lower operating cost,” added Good. “Add to that the benefit of accessing multiple talent pools along the Northwest Corridor and this location becomes extremely attractive for many companies.”
Renderings courtesy of Etkin Johnson