Etkin Johnson Leases Spec Industrial/Flex Building at CTC to Market Leading CBD Company
Etkin Johnson Real Estate Partners announced today that the firm has secured a long-term lease with Boulder-based Charlotte’s Web Holdings, Inc., the market leader in the production and distribution of innovative hemp-derived cannabidiol (CBD) wellness products. The 136,610-square-foot speculative industrial/flex building is located at 700 Tech Court in the Colorado Technology Center (CTC) in Louisville.
“Charlotte’s Web is a pioneer, not only because of the innovative products they manufacture and sell, but because of their extensive research and development into the cultivation and processing of industrial hemp for CBD extracts,” said Ryan Good, partner at Etkin Johnson. “We are in the midst of a game-changing moment for companies in the CBD space, and we’re proud to be a part of it with Charlotte’s Web. We look forward to supporting the company’s continued growth in Boulder County.”
Through its vertically integrated business model, Charlotte’s Web strives to improve lives, providing stringent product quality, efficacy and consistency. The company is in a period of rapid growth and along with distribution and R&D, the large cGMP grade building at 700 Tech Court will encompass the company’s new manufacturing operations, initially adding more than three times the capacity of its current operations. The lease agreement includes further expansion options into adjacent buildings (to be constructed) as necessary to accommodate the company’s future growth.
”We are grateful to the Etkin Johnson team for their quick and efficient assistance in locking down this outstanding facility in Louisville,” said Stephen Lermer, chief operating officer of Charlotte’s Web Holdings, Inc. “Louisville is a prime location for us midway between Boulder and Denver where we have and source top employee talent. We look forward to contributing to the growth, economy and families of Louisville as we continue to grow.”
Dawn McCombs and Justin Rayburn from Avison Young represented Charlotte’s Web in the transaction.
With 700 Tech Court fully leased, Etkin Johnson recently broke ground on 600 Tech Court, the second building of the three-building Louisville Corporate Campus. Expected to deliver during Q1 2020, this 113,288-square-foot industrial/flex building will feature 24-foot ceilings, ample natural light from 10-foot window bands wrapping three sides of the building, overhead glass doors to create indoor/outdoor workspaces, multiple loading capabilities and an energy-efficient design.
Etkin Johnson currently owns more than 3 million square feet of industrial and office property, along with hospitality and multifamily assets along the Front Range.